article thumbnail

Business Prenup: What To Do Before You Start A Company With A Partner

YoungUpstarts

For example, an attorney can assist with issues concerning corporate formation (such as the pros and cons of corporations, limited liability companies and other structures) that may impact liability. A CPA provides input on tax structure and metrics, and assists with due diligence related to your industry.

Partner 203
article thumbnail

Establishing and Starting a New Business from Home: The Ultimate Guide

Women Entrepreneurs Can

For example, are you a sole proprietorship, limited liability company (LLC), or corporation? Again, it would be advisable that you hire a professional such as Safe Harbor CPA Firm to assist you. Establish Your Business Structure The first thing you need to do is decide on the structure of your business.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

With New 21 Percent Corporate Tax Rate, S-Corps Are Taking A Second Look At C-Corp Status

YoungUpstarts

Given that reality, it is imperative for S-Corp – along with other passthrough entities, such as limited liability companies and partnerships – to carefully consider the plusses and minuses of both scenarios. Yet, in all cases, the switch to a C-Corp can have long-lasting. Here are a few to consider.

Dividend 138
article thumbnail

Tips On Starting A Business Without Sabotaging Your Personal Finances

YoungUpstarts

by Tim Steffen , CPA/PFS, CFP ® , CPWA ® , Director of Financial Planning for Baird. Set up a limited liability company (LLC) and separate bank account. Yet too many people put their personal finances at risk to launch a business, but I believe it can be done without sabotaging your financial future. Keep a fall back.

Finance 100
article thumbnail

How To Close The Books on Your Startup

mashable.com

If no shares were issued, the Board of Directors must approve to dissolve the company. If you’ve been operating as an LLC, review the dissolution requirements in your state’s LLCA (Limited Liability Company Act). Otherwise, members of the LLC can be held liable for debts of the company after it’s been dissolved.

LLC 68
article thumbnail

5 Critical Tips to Reduce Your Business Taxes This Year [WEBINAR]

Up and Running

Earlier this month I hosted Ryan Clower, a CPA from the accounting firm M. I am a CPA, down here certified in the great state of Texas and really just stoked to be here. ” If you see here in the graphic, the LLC, which is a limited liability company, many of you are probably set up in that format. Where am I?

.Net 85