Business Advisory

An LLC offers flexible management, pass-through taxation by default, and fewer formal requirements, which is why it's the go-to structure for most small businesses. A corporation offers clearer ownership through shares and better options for bringing in outside investors. C-Corps face corporate-level tax, while S-Corps pass income through to shareholders. The best choice really depends on your goals, your investors, and your tax situation.

With an S-Corp, business profits pass through to shareholders and get taxed at the individual level, which avoids the corporate tax layer. More importantly, shareholder-employees can pay themselves a reasonable salary and take the rest of the profit as distributions, which aren't subject to self-employment tax. That can add up to meaningful payroll tax savings as your income grows. We run the numbers to see if an S-Corp election makes sense for you.

Most businesses do. An EIN works like a Social Security number for your business and is required if you have employees, operate as a corporation or partnership, file certain returns, or want to open a business bank account. Even sole proprietors often benefit from having one to keep business and personal finances cleanly separated. We take care of the EIN registration as part of our formation process.

It depends on your industry and where you're located. Most businesses need a general business license from the city or county. Businesses selling taxable goods need a seller's permit. Regulated professions require professional licenses, and certain locations need zoning approvals. We'll identify the specific requirements for your business type and location so you're operating legally from day one.

Open a dedicated business bank account and get a business credit card as soon as the business is formed. Pay every business expense from the business account and never mix personal and business funds. This is what protects your liability shield, makes bookkeeping clean, and keeps your tax records organized. We'll walk you through the right setup from the start.

Most states require annual report filings and a franchise tax or registration fee to stay in good standing. Corporations have more formal requirements like annual meetings, meeting minutes, and proper stock issuance. LLCs have fewer formalities but still need updated operating agreements when ownership changes. Falling behind on these can mean penalties or even dissolution. We track all your compliance deadlines so nothing slips.

Yes, and it's more common than people think. A sole proprietor can form an LLC, and an LLC can elect S-Corp status. Some changes are straightforward, while others involve asset transfers or reorganizations that need careful planning to avoid unexpected tax consequences. We look at the full picture before recommending any change.