If you are thinking of forming a San Diego LLC or Corporation, we can help you make the right decision for your business by evaluating the many aspects that need to be considered in choosing a business structure.
Common business structures:
LLC - The Limited Liability Company (LLC) is a business structure that combines the personal liability protection of a corporation with the tax benefits and simplicity of a partnership. LLCs are more flexible and require less ongoing paperwork than corporations.
C-Corporation - A corporation is a legal entity that exists separately from its owners. A properly created corporation limits liability; personal assets of the owners are usually not available to repay the corporation's debt and obligations. Ownership of a corporation is easily transferable, but a corporation has some formalities that must be adhered to in order to maximize the benefits it can provide.
S-Corporation - A Subchapter S Corporation is a general corporation that has elected special tax status with the IRS after the corporation has been formed. Instead of being taxed at the corporate level, this is a "pass through" entity and income is reported on the individual tax returns of the shareholders. There are specific guidelines that must be met for qualification as an S-Corp.
These are not the only business structures available, but are popular structures formed in California. I can also provide advice on:
Family Limited Partnerships
Call us today, your San Diego Business Planning Attorneys, and we can help you make the right decision for your new or existing business.
The Barger Law Group, APC. assists clients with Estate Planning, Trusts, Wills, Powers Of Attorney, Advance Directives, Business Services and Incorporation matters in San Diego, California, CA as well as La Jolla, Solana Beach and Rancho Santa Fe in San Diego County.