What are the tax consequences of changing my business’ organization type?
A change of entity status can have large, long-term tax implications. Planning is needed to avoid extra taxes on the…read more
If my business is a professional practice, are there special conditions?
Malpractice liability is the biggest concern. You cannot be protected again malpractice liability in your own practice, however, there are…read more
What type of business entity has the most tax advantages?
A pass-through entity is best, as it eliminates taxes on the entity as a whole. Instead, owners of the entity…read more
What is the “corporate double tax”?
A corporate double tax occurs when a business entity is taxed on its income, and its owners then pay taxes…read more
Do some forms of business organizations or entities limit liability to business creditors?
Yes. Limited liability companies (LLCs), limited partnerships, limited liability partnerships (LLPs), and corporations all limit liability in some way.