One of the most common questions we get from clients is:
What type of entity should I have for my business?
The answer, as you would expect, depends on a lot of factors! You should consider the following:
Is this a long term business?
Is it profitable?
Do I want to raise capital?
Do I want to sell the business some day?
Do I want to use the business to reduce my tax liability?
Our favorite entity for tax efficiency is an S Corporation. Although this requires a lot more administrative overhead than other types of entities such as an LLC, it tends to save our clients thousands of dollars each year. 🚀
If you’re curious about what an S Corp means for your business, check out our S Corp Calculator