Discover how LLCs can optimize their tax status to benefit from various taxation strategies—whether as a disregarded entity, partnership, or corporation

"In this world nothing can be said to be certain, except death and taxes"

We are pleased to send our warm congratulations to our foremost external consultant on passing the final section of the CPA exam. We look forward to working and growing together for years to come.

At Bold Horizons, we champion the entrepreneurial spirit, and we work tirelessly to empower the next generation of visionaries. As we begin this new week, we want to share the wisdom of President John F. Kennedy when he introduced our country to its lunar destiny. Like President Kennedy, we encourage our readers to pursue the difficult. Adversity breeds resilience and, as the poet Robert Frost writes, “the best way out is always through.”

The letters LLC are everywhere. They have become synonymous with business. We routinely hear very smart people conflate proper LLCs with the general idea of a business entity with limited liability. Today, we will dispel the confusion. This piece will provide insight into what an LLC is and what an LLC is not. We will primarily be discussing what an LLC is in general and why it can be advantageous for your business to form one. Furthermore, we will touch on what it means for an entity to be considered a pass-through entity.

Sole proprietor? Partnership? Corporation? LLC? The biggest challenge for many small businesses is finding the right choice of business entity. There are pros and cons to each type of business structure, so it’s critical to make sure you’re making the right choice. This is the first article in our series The Many Shapes of Business where we discuss different types of business entities. To help you figure out your best option, today we’ll cover what a corporation is and why forming one can be beneficial. We will also set you up for our next installment in this series, where we tackle LLCs.