For any new entrepreneur, the selection of the correct entity type is important because business entity type selection has implications on taxes as well as business legalities. In the US, the types of entity to choose from are:
3.Limited Liability Company (LLC)
4.Limited Liability Partnership (LLP)
6.S Corporation (Technically speaking, S Corporation is not an entity type; rather it is a tax election. But that is another discussion altogether.)
Our team at NileCPA has worked with a large number of entrepreneurs and businesses to help them choose the correct entity type. Our business entity selection consulting team helps our clients understand the difference between each entity type. Each entity type has certain benefits as well as certain drawbacks when considered from a tax and other business liabilities perspective. Our team analyzes the clients’ business model, revenue streams, operations, etc. and helps to select the correct entity type that provides maximum benefit to the businesses as well as the business owners.
Our professional team knows that business entity selection is not permanent; rather, it is temporary. Any business can change its entity type throughout its lifecycle – when the business is in the introduction, growth or maturity phase. Hence, our team does not provide entity selection as just a one time service; we suggest the change in entity type as and when the business grows and enters different phases or whenever there is a change in business ownership. We suggest and help to select the best entity type that suits the business at a particular time and a particular phase of the business life cycle. NileCPA is well known in the market for business entity selection services due to our professionalism, knowledge, expertise and experience. Our clients are always highly satisfied with our services.
Do connect with us, if you are looking for professional and expert services for entity selection of your business.