It’s our job to make sure you are in the correct entity for your business model in order to maximize your tax savings. For example, a real estate business that “flips” houses should be set up in a corporate entity while a long term hold real estate property should be held in an LLC or LP.. A doctor or lawyer is often required to set up personal corporation in order to abide by the law. Your business needs to have a foundation that is appropriate for your goals. Tax savings with the correct entity choice can be quite significant, if you choose the wrong entity or the wrong state to set up the entity, the costs of that error can be quite high. Be very careful of setting up NV corps and LLCs if you’re doing business in other states, we see this mistake quite often when business is conducted in California or other states.
Asset protection is another extremely important issue when dealing with entities. Business owners sometimes make the mistake of doing business in their own names. They put their hard earned assets at risk in these scenarios. We educate business owners on the best choices for their businesses.
The most common entities include:
S Corporation; C Corporation; LLC (Limited Liability Company) ; 501(c)(3) (Non-Profit); APC (A Personal Corporation)
Once your entity is up and running, you need to have training and guidance on how to set up the books, keep minutes, set up payroll etc. It is our job to educate you on how to run that portion of your business and the price on our entities include this unlimited education with Carey Lampel, the tax strategist at EBS Consulting Inc. Call or email for a free consultation today.