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Colorado Springs, CO 80916
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The decision to start your own business is a big step. It is important to understand the different business organizational structures to choose from, not only for liability purposes, but also to ensure appropriate tax planning.
Your initial consultation is free, with many of the services available for fixed, flat fees.
Contact us to set your business up, help you remedy any issues from an ongoing business and/or review your leases and contracts. We are a full service firm that can handle all aspects of your business needs.
It is important to start your business properly with the necessary licensing depending on your type of business and whether you have employees. We can help you choose the best option for your situation and business, as well as provide you with monthly bookkeeping and payroll services.
The traditional corporate structure still exists and can elect to be taxed as either an S corp or C corp.
The second structure is that of the Limited Liability Company or LLC. This structure offers limited personal liability to the members. Additionally, an LLC can choose the taxing structure it wants to use in order to control its taxes.
The most common structure is that of a sole proprietorship. If you open a business on your own and do nothing, then you are a sole proprietorship. If you and any other persons start a business, you are then a partnership. The two main issues with these structures is the personal liability and the increased tax ramifications of self employment tax.
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