Post on 29-Nov-2014
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Business Education SeriesChoosing The Right Business Entity
Presented by:
“you would have to be brain dead not to start your own business”
Sandy Botkin, CPA, Esq.
www.laughlinusa.com
•Corporate Compliance
•Education
•Choosing The Right Entity
•Professional Assistance
•Retirement Planning
•Estate Planning
•Exit Strategies
•Buy Sell Agreements
•Trusts
•On-Going Support
The Complete Solution
Choosing The Right Entity
• Personal Asset Protection
• Additional Fringe Benefits
• Added Tax Savings
• Enhanced Credibility
• Professional Image
• Financial Privacy
1-888-386-3811
Different Types of Business Entities
Which is right for you?
Sole Proprietorship
General Partnership
Corporation
Limited Liability Company
Sole Proprietorship
•Simplest Form Of Doing Business
•No Paperwork To File
•Single Level Of Taxation
•Low Cost
Pros vs. Cons
•No Liability Protection
•Self-employment Tax
•Single Level Of Taxation
•Limited Tax Deductions
You Are A Target!
Limited Partnership
•Separate Legal Entity
•Income Splitting
•Single Level Of Taxation
Pros vs. Cons
•Limited Tax Deductions
•Formal Documentation
•Loss of Control
•Annual Filings
1-888-386-3811
Corporation (C)
•Limited Liability
•Separate Legal Entity
•Corporate Tax Deductions
•Income Splitting
•Centuries Of Case Law
•Credibility For Your Business
•Stock Options
•Easy Transfer of Ownership
Pros vs. Cons
•Formal Documentation
•Annual Filings
•Separate Tax Returns
•Potential Double Taxation
1-888-386-3811
Corporation (S)
•Limited Liability
•Separate Legal Entity
•Single Level Of Taxation
•Most Corporate Tax Deductions
•Centuries Of Case Law
•Credibility For Your Business
Pros vs. Cons
•Formal Documentation
•Annual Filings
•No Income Splitting
•Limits On Shareholders
•Limits On Owner/Employee Benefits
Limited Liability Company (LLC)
•Limited Liability
•Separate Legal Entity
•Flexible Taxation
•Management Flexibility
•No Restrictions On Membership
•Corporate Tax Deductions*
•Income Splitting*
•Credibility For Your Business
*based on tax election
Pros vs. Cons
•Formal Documentation
•Annual Filings
•Separate Tax Returns*
•Limited Case Law History
1-888-386-3811
Things To Consider
• Legal Liabilities
• Tax Implications
• Flexibility
• Future Needs
• Cost of Formation
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Key Factors When Choosing an Entity
Asset Protection
Tax Implications
Flexibility-Future
Key Factors When Choosing an Entity
Asset ProtectionTax Implications
Flexibility-Future
• Enhanced Liability Protection
• Protect Your Business
• Protect Your Personal Assets
• Protect Your Personal Wealth
Asset Protection
1-888-386-3811
What is Limited Liability?
Personal Assets:
•Home
•Bank Accounts
•Retirement
•Other Assets
Business Assets:
•Property
•Bank Accounts
•Equipment
•Cash Assets
•Other Assets
Corporation/LLCCo-mingled Life
Key Factors When Choosing an Entity
Asset Protection
Tax ImplicationsFlexibility-Future
1-888-386-3811
CORPORATIONOR LLC
WAGES
FRINGE BENEFITS
DIVIDENDS/DISTRIBUTIONS
LOANS
RENT
ROYALTIES
Money In-Money Out
Key Factors When Choosing an Entity
Asset Protection
Tax Implications
Flexibility-Future1-888-386-3811
Flexibility-Future
Do You Need To Raise Capital? Do You Want Total Control? What Is Your Exit Strategy? Are You Holding Property or Running
a Business?
1-888-386-3811
Thank You For Attending
Call 1-888-386-3811 or send me an email to receive your complimentary whitepaper outlining a side-by-side comparison of C-Corporations vs. S-Corporations.
Presented By: Randy Reesrrees@laughlinusa.com
1-888-386-3811www.laughlinusa.com