If you’re opening a new business, what is the best choice for tax efficiency and legal protection for you and your investors or partners? For those who have not yet incorporated their business, this might be your best chance to plot a course towards the future that means paying less taxes and reaping sizable benefits that will allow for more sustainable growth in the future. In this article we’ll cover the five most common corporation types (Sole proprietor, LLC, S Corp, C Corp, B Corp) that you can choose from and how they benefit you when it’s time to turn in your taxes.
Since different tax structures have different parameters for filing their taxes, it’s important to figure out which one will be the most beneficial for you and your business.
*This blog does not constitute solicitation or provision of legal advice and does not establish an attorney-client relationship. This blog should not be used as a substitute for obtaining legal advice from an attorney licensed or authorized to practice in your jurisdiction.*