C-Corporations are the most basic of all corporate types. Like all corporations it consists of share holders and officers. It is a powerful asset protection tools and when properly set up can save you a ton of taxes. It is important to have an expert help you set up this type of corporation because it could lead to double taxation
S-Corporations are what we call a pass through entity. basically that mean the corporation pays no taxes and all income or profit is passed through to the shareholders so there is no possibility of double taxation. The IRS allows corporations to choose to be taxed as either a "C" corporation" or an "S" corporation. Like the "C" Corporation the "S"Corporation is excellent for asset protection however once again you need expert consultation before deciding on an "S' Corporation
A limited Liability Corporation (LLC) is a type of partnership that has many of the advantages of a "S' Corporation including asset protection. There are many important nuances between these different entities that can affect which one is best for you. before deciding contact us and we can help you make the right choice
A nonprofit organization, also known as a non-business entity or nonprofit institution, is dedicated to furthering a particular social cause or advocating for a shared point of view. In economic terms, it is an organization that uses its surplus of the revenues to further achieve its ultimate objective, rather than distributing its income to the organization's shareholders, leaders, or members. Nonprofits are tax exempt or charitable, meaning they do not pay income tax on the money that they receive for their organization. They can operate in religious, scientific, research, or educational settings income. You want to make certain you are classified properly so that you are not listed as a foundation . call us before making a decision on forming a nonprofit organization
A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own living trust, keeping full control over all property held in trust. It is an excellent tool for estate planning. give us a call and we can help you get set up right away