When is the last time you open a Corporation. Did you you know there are three types to choose from. Choosing the wrong one will cost you money in the future. If you can not answer the last questions you are in the right place
If you are planning to go into business in the near future, you might be wondering if it’s best to open up a corporation, an LLC or maybe even a sub S corporation.
Ultimately, it comes down to your specific needs. But in many cases, it’s best to go with a sub S Corp. Let’s take a look at some of the main reasons why right now…
Better Accounting and Legal Benefits
For starters, when operating under a sub S corporation each of the shareholders and the shareholder employees get to experience major advantages.
They are perfect when it comes to helping a business experience benefits in the areas of legal liabilities and general accounting. When you compare a subchapter S corporation to an LLC or a partnership, as an example, it makes more sense to open corporation in Florida because the shareholders aren’t personally liable for the company debt. This protects your personal assets in case anything bad was ever to happen.
And speaking of reasons why open corporation or why start corporation instead of an LLC… the tax accounting is always much easier. You’ll learn this after speaking to your accountant, but ultimately a partnership will complicate tax accounting where as an S corporation makes it much more simple.
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Let’s face it. Nobody wants to pay income tax. And when it comes to corporate income tax, you might as well put yourself in a situation where you can save as much as possible. That’s where the sub S Corp. really shines.
When you compare this type of corporation to a regular C Corp., there’s no question that you will save money. It’s a little bit tricky to explain why, but all’s you really need to know is that you’ll put more money in your pocket this way as opposed to opening just a regular corporation.
Last but not least…
Sub S Corporation
Savings on Payroll Tax
The last thing we need to mention is payroll tax savings. Again, why give all of your hard-earned money to the IRS when you can keep it for yourself. Saving on payroll taxes is going to help boost your bottom line and help you keep more of your money.
If you need help starting a corporation, we are glad to help. Please contact Corey & Associates as soon as possible.
Corey & Associates Tax Accountants has open Corporation for clients since 1984. They Can open in 15 minutes. This accounting firm as a office located at 1800 W 68 St Suite 118,Hialeah, Florida. Office is located just minutes away from any where in Miami,Miami Lakes,Hialeah,Hialeah Gardens, Miami Gardens . Its just off the 826 at NW 122 St Exit. If you do not live in the area, Can fax or email your information and they can take open your Corporation. Free Consultation.