Business Entity Selection

Let us help you elevate your business to the next level.

The business structure you choose effects everything from daily operations, to taxes, to how much of your personal assets are at risk. You should choose a business structure that gives you the right balance of legal protections and benefits.

Comparison of the most popular business structure and characteristics, but always remember that ownership rules, liability, taxes, and filing requirements for each business structure most likely will vary by state.

Business structure Ownership Liability Taxes
Sole proprietorship One person Unlimited personal liability Personal tax only
Partnerships Two or more people Unlimited personal liability unless structured as a limited partnership Self-employment tax (except for limited partners) Personal tax
Limited liability company (LLC) One or more people Owners are not personally liable Self-employment tax Personal tax or corporate tax
Corporation - C corp. One or more people Owners are not personally liable corporate tax
Corporation - S corp. One or more people, but no more than 100, and all must be U.S. citizens Owners are not personally liable Personal tax
Corporation - B corp. One or more people Owners are not personally liable Corporate tax
Corporation - Nonprofit One or more people Owners are not personally liable Tax-exempt, but corporate profits can't be distribute

Services

Our Tax Accountant & Bookkeeper serves clients across Dallas, Tarrant County, Denton County, and the surrounding areas.

Quick Inquiry

Quick Inquiry Form

✓ Valid