Frawley Financial Services, CFP®, CPA, MBA is happy to offer new business owners and entrepreneurs information on various business structures. Please read some of the advantages and disadvantages of different business structures, and learn more about each type here. In addition, we are happy to help you determine the best business structure to fit your needs and your strategy. Frawley Financial Services, CPA is located in Naples, FL, and serves clients nationwide remotely in Tax Preparation, Financial Planning, and Consulting Services.
Please take time to review the following common business structures, and call us if you need helping deciding the most advantageous business structure for you, during your free half-hour consultation. You can call or email us here now. As your CPA and CFP®, I can tell you that choosing the proper business structure at the beginning is essential to saving you time, headaches, and more money later. Here are the major types of organizations:
We are happy to help you decide on the most advantageous entity for your business, given your business, industry, strategic mission and vision. In addition, we can help draft your articles of incorporation, including bylaws, voting rights, and more. If you form a corporation, and are eligible for electing S-Corp status, we can assist you with that, as well as the property accounting of basis, and annual tax preparation and planning.
Alternatively, forming a single member LLC is quite simple, and although you are treated as a pass-through entity for tax purposes, you can elect to be treated as an S-Corporation, or C-Corporation for tax purposes, by making the proper elections in a timely manner. There are advantages to this when your salary is above the social security limit, and as an S-Corp you are taking a salary that at least maxes your required social security benefit contributions. Income you receive above that will not be subject to further social security taxes.
We will be happy to assist you with any of your business and consulting questions. Give us a call or set up an appointment, and we will be happy to assist you. You can call or email us here anytime. Thank you!