Types of Business Entities | S Corporations

Posted by Rick J. Alfera, CPA, MST, PFS on Jul 17, 2017 4:48:18 PM


  Previously in this blog series, we discussed
sole proprietorships, partnerships, LLCs, and Corporations, and areas to consider when deciding on a business structure (read our first post in this series for more detail regarding these areas). In this post we'll be discussing S corporations.

What is an S Corporation?

A Subchapter S (S Corporation or S Corp.) is a form of corporation that meets specific Internal Revenue Code 1361 requirements, giving a corporation with 100 shareholders or less the benefit of incorporation while being a pass-through entity.  S corporations pass income directly to shareholders and avoid double taxation on the dividends of corporations, while still enjoying the advantages of the corporate structure. 

Read More

Topics: Different Types if Business Entities, Structuring Your Business, S Corporations

Types of Business Entities | Corporations

Posted by Rick J. Alfera, CPA, MST, PFS on Jun 19, 2017 5:13:37 PM
"Risk comes from not knowing what you are doing." - Warren Buffet. Determining the best legal structure for your business requires a healthy knowledge of the different business entity options and what they entail. Otherwise, owners face risks such as, paying too much in taxes or taking on too much liability.
 
Read More

Topics: Different Types if Business Entities, Structuring Your Business, Corporations

Types of Business Entities | Partnerships

Posted by Rick J. Alfera, CPA, MST, PFS on Apr 10, 2017 12:14:00 PM


This is our third post in our series on Types of Business Entities. In our
first blog post of this series, we covered areas to consider when structuring a business. In this post we'll take a look at these areas again while discussing the advantages and disadvantages of partnerships.

According to the United States Small Business Administration;
"A partnership is a single business where two or more people share ownership. Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business."

There are three types of partnerships; General, Limited, and Joint Ventures. The definition above applies to General and Limited partnerships. The below definition applies to Joint Ventures.

Read More

Topics: Partnerships, Different Types if Business Entities, Structuring Your Business

Subscribe to Email Updates

Recent Posts