Entity Registration (Corp/Inc – LLC):
An important step to succeed in the United States is the registration of a company. There are basically two types of company: Corporation (Corp/Inc) and LLC Company (Limited Liability Company).
The main differences among them are the way the income is taxed, and the responsibilities of the liabilities with the company creditors.
Application for S Corp status:
There is a benefit, exclusive for US Residents and US Citizens, in which the income from a Corporation is pass-through its shareholders and the tax is paid only at personal level, eliminating double taxation. In order to get this benefit the company needs to apply for a Small Corporation status with Form 2553.
Are you looking to invest in an operating business? The due diligence process is the best way to determine if it is profitable or not, by examining through different techniques, the income, expenses and other operating information provided by the seller.
What is a Business Plan? It is a roadmap that provides directions by projecting income, costs, payroll, expenses, investments and taxes of a company during a certain period of time in order to determine if said business is profitable or not, helping you avoid future obstacles in the road.