If you are starting a business and you don’t have a specific reason to form a corporation, you should opt for an LLC.
Yep. It’s that simple. The LLC is so flexible and there are so many options down the road that, unless you are absolutely certain you need the double taxation of the C-Corporation, or any of the benefits of the S-Corporation right out of the gate, you can postpone that decision by forming an LLC.
Of course, there is a more complicated explanation. Of course, there are a lot of factors to consider. But, that is what the professionals are for. There are reasons and things to consider. You could think of:
Or, you could take the next step and move forward.
We have eliminated the excuses for you to not start your new venture. Or worse, to start it without first forming an entity. Start with an LLC. Make sure you set it up right. But, start with the LLC.
Legal impacts every area of your business. But, sometimes, just sometimes, the decision doesn’t need to be over complicated and create an excuse for standing still. Starting with an LLC gives you:
- the limited liability protection you need from an entity
- the flexibility of creating an ownership structure anyway you like
- the option to alter your tax structure down the road as you need based on your goals as a business owner
Now, go enjoy the holiday weekend, and let’s hit the ground running when we get back.