With the many challenges that may arise with a new business formation in San Diego, having to deal with extensive paperwork should not be one of them. There are several types of businesses we can help you form such as Corporations, S-Corporations, Partnerships, LLC’s, Non-Profit Organizations and Homeowners Associations. All six types of new business formations have different requirements and separate rules for them to be formed and maintained.
Our team can take care of the business classification and the financial aspect of your company for you. We are up to date with all the requirements, rules, protocols, and regulations that your organization will need to succeed. A well-qualified team that will ensure everything runs smoothly from beginning to end is crucial when you are working on creating a successful business.
To help you focus on growing your business, our business advisory services in San Diego will work with you to determine which entity classification selection is best for your type of business.
Business Formation Classifications
If your business falls under the following classifications, we can help you maximize the financial potential your business has:
Corporation
A corporation is a business entity in which its profits are taxed separately from its owners. A corporation enjoys most of the rights and responsibility that an individual would. What this means is a corporation has the right to enter into loans, contracts, borrow money, be sued and sue others.
S-Corporation
An S-corporation is a company that can only be used for small businesses as it pays no income tax. All the income or losses for the year are reported through the shareholder or holders who later report it on their individual returns. Starting a business under this section helps avoid double taxation.
Partnership
Partnership-AA partnership is a legal form of the business corporation between two or more individuals who share ownership and profits. Under this classification, each partner contributes to all aspects of the firm, including gains and losses.
LLC
An LLC (Limited Liability Company) is a corporate structure where the members of the organization can’t be held responsible for any debt incurred by the company. This kind of company is essentially a hybrid of 3 different companies it combines the characteristics of a corporation, partnership, and sole proprietorship.
Nonprofit Organization
A non-profit organization is an organization that is established for the purpose of achieving a mission and making a difference instead of making a profit.
Homeowners Association
A homeowners association, is a subdivision or planned community that makes and enforces rules for the properties in its jurisdiction.
