Business Formation and Legal Structure
Entrepreneurs and business minded people must juggle countless tasks and competing priorities well before they open shop, including the creation of a legal structure. Business formation is a necessary early step when starting a business, whether you're registering a simple DBA, incorporating or forming a partnership.
The way in which your business is formed will determine the personal liability of the founders, how taxes are paid, and other important details. For example, a sole proprietor typically makes decisions on her or his own, while a partner in a partnership must get approval from all other partners prior to making major decisions for the company. ASAP specializing in helping you setup one of these main business legal structures:
- Sole Proprietorship
- Limited Liability Company (LLC)
Tax Information from the IRS
- Tax Forms: Sole Proprietorship - Filing requirements of sole proprietorship, with applicable tax forms.
- Tax Information for Partnerships - FAQs, updates, tutorials and related tax information for partnerships.
- Tax Forms: Partnerships - Filing requirements of partnerships, with applicable tax forms.
- Tax Information for Corporations - Collection of FAQs, updates and other tax information for corporations.
- Tax Forms: "S" Corporations - Filing requirements of "S" corporations, with applicable tax forms.
- Tax Information for LLCs - Overview of tax requirements for limited liability companies (LLCs), with links to forms.
- Tax Information for Nonprofits - Various updates and guides pertaining to the filing requirements of nonprofits.
ASAP will help to structure your business with your tax responsibilities in mind for the the short term and long term planning. How you handle this part of your business will determine your profitability and sustainability.