What type of business structure should I choose: LLC, S-Corp, or C-Corp?
The best structure depends on your business goals. An LLC offers flexibility and personal liability protection, making it great for small businesses and startups. An S-Corp provides tax benefits by avoiding double taxation, but it has stricter ownership rules. A C-Corp is ideal for businesses planning to scale and attract investors, though it involves more regulations and taxes. We can help you determine the best fit based on your needs.
How long does it take to set up my business?
The timeline depends on the state and type of business you are forming. Generally, business formation can take anywhere from a few days to a few weeks. Expedited services may be available for faster processing. Once registered, additional steps like obtaining an EIN, setting up a business bank account, and ensuring compliance can add a few more days.
Do I really need a business bank account, or can I use my personal account?
Yes, having a separate business bank account is crucial. It helps maintain legal protection, simplifies accounting, and makes tax filing easier. Mixing personal and business funds can cause financial confusion and even jeopardize your legal liability protection. We assist in setting up your business bank account to ensure everything is structured properly.