So you have an idea and considering starting a business. Not sure where to start? Bignall Concierge Financial Services will work with you and guide you along the path of determining what business entity is right for you and the best business model for your new business industry.

Types of Business entities

Sole Proprietorship

A Sole proprietorship often referred to as a DBA (Doing Business As) or a Sole Trader is typically referred to business that is owned by one person that has not elected to attain a legal distinction between the business entity and the business owner. A Sole Proprietorship is usually registered in your county or state.

Limited Liability Company (LLC)

A LLC is private limited company recognizable by the United States. A LLC is considered a pass-through entity that is typically adopted by sole proprietors and partnerships to limit the liability of the owner’s and their assets. Limited liability companies are typically registered with the secretary of state in your state and requires the election of a registered agent.

S-Corp

A S-Corp is a hybrid of the Limited Liability Company which combines the limited liability of an LLC and the tax breaks of a C Corporation. A S-Corp is an election made with the Internal Revenue Code.

C Corporation

A C-Corporation is an entity that is taxed separately from its owners and acknowledged by the Federal Income Tax law. A C-Corp is owned by share-holders who must elect a board of directors that make business decisions and oversee policies.

Contact Us