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The Corporate Transparency Act

THE CORPORATE TRANSPARENCY ACT & FINAL RULE FOR BENEFICIAL OWNERSHIP REPORTING The Corporate Transparency Act (CTA), which was passed by Congress as part of the Anti-Money Laundering Act of 2020, requires reporting of beneficial ownership information (BOI) and was...

The Advantages and Disadvantages of Organizing Your Business as an LLC

A limited liability company (LLC) is generally a low-cost structure many entrepreneurs utilize in an attempt to limit financial and tort liability, and assure that any problems that arise business remain company concerns, not personal ones. It’s important to...

LLC vs. S-Corp – which one is right for you?

At least once a week, our office gets a call from someone asking us whether they should form a Limited Liability Company (LLC) or an S-Corporation (S-Corp). We always say that there is no “one size fits all” answer to this question. Both are “disregarded” entities to...

Should you change your business entity status?

In the early days of your business, you likely filed your company as a sole proprietorship or LLC. While that status might have been ideal during the start-up phase, your business entity status might not make sense for your emerging business as it grows and changes....

Flipping an LLC to a C-Corp

Many early-stage businesses start as an LLC because the costs are so low. However, there may be a time to flip to a C-Corp. It can be done. Decisions made for a company early in its existence, even if they were ideal at that time, can become less than optimal as the...