As an attorney, it is very important to plan what entity you are going to be from a tax perspective, and today we’re going to talk about the pros and cons of each entity type.
Are you considering forming a business entity and unsure of what type to choose? With so many options, it can be overwhelming to decide which type of entity is best for your business. From Sole Proprietorship to Limited Partnership to C Corporations and S Corporations, this article will explore the pros and cons of each type of business entity.
From which entity is best for low-risk businesses to which will save you the most money in taxes, this episode will help you decide which type of business entity is best for you. Learn why a General Partnership may not be the best choice for decision-making, why a C Corporation may be beneficial for splitting profits and losses, and why an S Corporation is the favorite of many. With the right information, you can make the best decision for your business.
Here’s what I cover:
1. The different types of business entities, and the pros and cons of each from a tax perspective.
2. The taxation of S corporations, and how they compare to other types of business entities.
3. The requirements for businesses to report and pay taxes in their home state.
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Jayden was not always the financial guru that he is today. Growing up in a household just shy of the federal poverty line in Prince George’s County, Maryland, he knew the importance of money management but didn’t have the tools to create the financial stability he so desperately craved. After graduating Towson University with a B.S in Accounting and incurring a large amount of debt, Jayden was determined to make a change.
With a little hard work, and A LOT of sacrifice, Jayden became independent, gained professional growth as an accountant at a small CPA firm in Atlanta, and became a Certified Public Accountant. Over the next years, he’s worked with clients in just about every industry — helping them not only expand their financial portfolios, but to create plans that ensure financial sustainability and minimize taxability.
As a CPA, Jayden’s goal is to help entrepreneurs like himself gain independence and create a unique action plan to bring more to their bottom line while paying less in taxes. Invest in yourself and start working with Jayden TODAY!
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