If you’re a married business owner and you want your business to be taxed as an S corporation, there are several things you need to know. Here are points to remember when filling out various forms, including what not to do. It is important to pay attention to the things you need to avoid so you are preventing problems and not stuck trying to solve them later on.
One of the most important steps when starting your business is deciding what you will name it. Choosing a name takes a lot of work and research because you want to make sure you have a unique name. It is also important to make sure your business is easily found online and not confused with others. Here are some more important points regarding the name of your business.
There are many things you are thinking about when starting your new business and it can all easily get overwhelming. One of the biggest questions you ask yourself might be whether to form a limited liability company taxed as a partnership (LLC) or a corporation making an S election (S corp). We have summarized the similarities and differences between both here for you so you can have a better understanding before making this important decision.