General partnerships are the simplest way to organize a business that has more than one owner. Partnerships are not as complicated as corporations to form. All it takes is two or more prospective partners, a desire to earn a profit, and an agreement between the partners hopefully in written form. Partners must share a vision [...]
The least expensive and perhaps the easiest way to start operations as a business is to become a sole proprietorship. No documents or forms are necessary, although in some jurisdictions a business cannot operate unless the owner gets the proper types of licenses. Legally, a sole proprietorship is not considered a separate entity from the [...]
In general an S corporation is almost exactly like a regular corporation. It operated in the same manner, must have directors, officers, and shareholders, and the entity functions as a regular corporation. The only difference is that the S corporation elects to be taxed as a partnership for federal tax purposes. Eligible domestic corporations can [...]
Every small business owner faces the question: which form of organization is best for their company? This can be a difficult decision. There are several choices, and each has its own advantages as well as disadvantages. An attorney can often give solid advice about this type of decision. The following is a general overview of [...]
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