Do You Need an LLC or Corporation?
Hello, this is your LLC Guru, welcome to our site! We believe in helping people get started in business worry-free & protected! We help regular people get their own LLCs quickly, inexpensively, and with confidence!
If you need an LLC or are even thinking about one, you have come to the right site, YourLLCGuru.com! We take the guesswork out of getting an LLC!
Before we start I would like to mention that this is in no way legal or tax advice.
LLC or Corporation?
Let’s get started by explaining a primary difference between LLCs, or Limited Liability Companies and Corporations. An LLC is owned by one or more individual people whereas a corporation is owned by its shareholders.
Other big differences between the two business structures center around taxation and business maintenance or day-to-day running. In the eyes of the IRS, an LLC can choose to be a “pass-through entity”. Making things very simple. Whereas corporations are thought of strictly as separate taxable entities This can lead to double taxation in many cases when you choose a corporation.
LLCs are generally thought of as being the easiest business entity to maintain. Corporations are required to hold annual shareholder meetings each year. In general, keeping a Corporation going year to year is much more complex than an LLC. Corporations are also generally required to file an annual report.
Starting a Business – an LLC or Corporation?
If you’re reading this then you’re probably considering starting a business. We’d like you to get started right, so we are giving away our free pdf, “10 Steps to Start a Business”! It’ll really help you start your business correctly!
It can be confusing when starting your own business and you will want to be sure you choose the correct business entity for your situation. Generally speaking, LLCs will be easier than Corporations to set up and maintain with less paperwork, less meeting requirements and without double taxation.
We believe that everyone in business deserves the protection an LLC can provide. We are making the business world a better place one LLC at a time!
In our next post, we will unpack more details around LLC’s. Check out some of my other posts or our videos on YouTube so you can learn more helpful information about LLC’s and how to use them to protect yourself in business. This is your LLC Guru, thanks for reading!