Incorporation and New Businesses

Incorporations and new business advisementWhen you’re starting a new business, there is a seemingly-endless number of things to do. Taking advantage of Robert Abrams, CPA’s incorporation and new business advisor services should be at the top of your list.

We’re among the leading Santa Clarita CPA firms because we provide a variety of services especially for new businesses. For example, if you plan to incorporate, we can help you explore the various types of entities and determine the one that best suits your needs. Did you know that you can incorporate in a state other than your own? We can tell you why that might be advantageous. Even if your business has been around for a while, it’s a good idea to let us assess whether you’re using the best structure for maximum tax savings.

Robert Abrams, CPA can also help in many other ways, including:

  • Strategic tax planning
  • Filing start-up paperwork
  • Setting up accounting and other financial systems
  • Ensuring compliance with payroll, Social Security, insurance, and other regulations
  • Securing funding
  • Establishing a budget
  • Creating a business plan

Limited Liability Entities

As the name implies, these entities provide limitations on the liability incurred by the company’s partners or members. There are two types:

  • A Limited Liability Partnership (LLP) is comprised of general partners who have personal liability for the company’s financial obligations, and limited partners who are liable only up to the amount of money they have invested.
  • A Limited Liability Company (LLC) shields its members from personal liability for its debts and obligations, but the members must report any money they receive on their personal income tax returns.

Corporations

Corporations are separate legal entities, and their owners or shareholders are not held personally liable for their financial obligations.

  • C Corporations are taxed on their income, and shareholders are also taxed on any distributions or dividends they receive from the company.
  • S Corporations are not taxed, but their shareholders pay taxes on income they receive from the business.

We offer a free, confidential consultation for new clients, so call 661-251-6281 or 818-775-0327 today to learn more about our new business advisor and incorporation services.