Business formation is the process of legally setting up an entity by selecting a business structure, best suited for your business needs, enabling it to operate in compliance with local, state, and federal laws. It’s the step where a business idea becomes a formally recognized organization with its own legal and tax identity.
A Limited Liability Company protects your personal assets, reserves your business name in your filing state, boosts credibility, opens doors to funding, simplifies structure, and can offer tax perks. If you're building for the long haul, it's a smart move.
3rd Party Fees Not Included.
A Nonprofit 501(c)(3) is a federally recognized tax-exempt organization formed for charitable, religious, educational, scientific, or literary purposes. It's designed to serve the public good, not generate profits for owners or shareholders.
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A Doing Business As, is a registered business name designed so businesses can operate under a name different. Whether you are a sole proprietor or LLC, a DBA offers flexibility to brand a business without forming a new legal structure.
3rd Party Fees Not Included.
A Sole Proprietorship is the most straightforward form of business ownership. It’s an unincorporated entity owned and operated by a single individual, with no legal distinction between the owner and the business.
3rd Party Fees Not Included.
A Corporation is a high-capacity business entity designed for longevity, growth, and legal precision. It operates as a separate legal person, capable of owning assets, entering contracts, and raising capital, independent of its shareholders. With a formal governance structure and the ability to issue stock, corporations are built to scale and last.
A C-Corporation is the IRS’s default business structure, taxed separately from its owners—resulting in double taxation. It offers strong flexibility for raising capital and scaling growth.
An S-Corporation is a tax status for corporations and LLCs that offers pass through taxation. It keeps the corporate structure but is taxed on individual returns.
3rd Party Fees Not Included.
A Partnership is a flexible and collaborative business structure formed by two or more individuals who agree to share ownership, responsibilities, profits, and liabilities.
General Partnership (GP) All partners manage the business, share profits & losses, and all liabilities equally.
Limited Partnership (LP) One general partner has full liability; limited partners invest but don’t manage and are protected per investment amount.
Limited Liability Partnership (LLP) Partners manage the business and are shielded from each other’s liability, but remain responsible for their own misconduct.
3rd Party Fees Not Included.
Join our webinar and identify the income you will need in retirement and how to create a plan to get there. We will also go over wealth generating products, with illustrations, for a clear, visual understanding.
See where you stand. Stay on track. Adjust as needed.
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