Over 30 Years of Accounting & Tax Knowledge
BUSINESS ENTITY SELECTION
The "choice of entity" decision is one of the most important decisions facing those who own and operate businesses. There are several forms to choose from, each of which generates different legal and tax consequences. Further, there is no single form of entity that is appropriate for every type of business owner or entity.
Choosing the appropriate form of entity in which to operate a business is a complex decision. It depends upon many factors, including the owners' needs and desires and the particular characteristics and needs of the business in question. Federal and state tax consequences of each type of entity also play an important role; especially in closely held entities where the parties' combined tax liabilities should be analyzed as part of the decision-making process.
Choosing the form of entity of your business (e.g. "S" corporation, sole proprietor, limited liability company…) is a crucial decision that can have longstanding tax implications, positive or negative.
We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company. Call us at (626) 858-6950 or Contact Us.