Corporations & LLC’s
Over the past ten years, we have witnessed a significant increase in the number of businesses who are incorporating or forming limited liability companies (“LLCs”). The reasons for this increase are two-fold: (1) protection from liability; and (2) tax benefits.
Most business owners no longer choose to operate in their individual capacities for fear that their businesses may be sued and their personal assets taken to satisfy a judgment. Also, many CPAs are recommending to their clients that they form either Sub-S corporations or LLCs in order to take advantage of certain tax benefits.
A business does not have to be large to justify incorporating or becoming an LLC. Also, the costs associated with this process are fairly low considering the advantages associated with incorporating or forming an LLC. For further information, please do not hesitate to contact us.