| > | | | | literally limited liability which means that LLC owners will |
| If you want to take your business to the next level it's | | | | enjoy the protection of a corporation structure. So |
| probably time for a corporate structure of some kind. | | | | they will not be directly burdened with debt of the |
| Deciding on how to write a business plan may seem | | | | organization. Secondly, there is also a greater degree |
| difficult, as you need to weigh the pros and cons. | | | | of flexibility when it comes to how the profits are |
| Here's a look at LLC vs. Corporation vs. S corporation. | | | | distributed. You also don't have to take minutes of |
| There are many different vehicles through which to | | | | every single meeting that is held and even if you do, |
| register one's business and in economic times such as | | | | these don't have to be made public. Perhaps the best |
| these it is very important that people are aware of the | | | | advantage is that there is a principle called flow |
| benefits of both. It is therefore a good idea to | | | | through taxation which means that it is possible to |
| understand the differences between LLC vs. | | | | avoid having to pay both corporate and individual tax. |
| corporation. | | | | The S corporation is called this due to its registration |
| The acronym LLC stands for Limited Liability Company | | | | as a company under Subchapter 5 of the United |
| which represents a combination of partnership and | | | | States Internal Revenue Code. The main advantage |
| corporation structures. The very important thing to | | | | here is that the company itself does not pay income |
| note is the manner in which a company such as this is | | | | taxes. |
| formed, means that it is neither a corporation or a | | | | But the individuals of the company get direct access |
| partnership. The point of this kind of organization is to | | | | to the company's profits and losses, so they are the |
| try to combine the best of both worlds and be | | | | ones that will pay the tax. |
| implemented when you decide how to write a plan | | | | At the end of the day it can be a difficult choice to |
| business plan. | | | | decide between the LLC vs. Corporation company |
| This type of company set up has a number of | | | | type. You need to make sure that you weigh up your |
| advantages to it. The first of these is that there is | | | | options carefully. |