The Profiles of 7 Business Entities…The OPTIMUM One For YOU

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The Profiles of 7 Business EntitiesThe OPTIMUM One For YOU

Here I am discussing strategies for small businesses, other than real estate investments. Below are the Business Owners choices of an ownership form for their business

1. Sole Proprietorship (IRS Schedule C)

VERY HIGH IRS Audit Risk ending up in a costly, time-consuming audit!

NO legal protection at all

NO privacy, you are totally exposed

ALL profits subject to self-employment taxes

Limited tax-free benefit deductions

Difficulty in deducting losses

Other costly pitfalls.

2. Single Member LLC (IRS Schedule C)

Except for some possible legal protectionSame expensive pitfalls as above Sole Proprietorship.

3. General (Regular) Partnership (IRS Form 1065)

Low IRS audit profile, filing Form 1065, but

NO legal protection partners are jointly and severally liable

ALL profits of ALL partners subject to self-employment taxes

Limited tax-free benefit deductions.

4. LLC-Partnership (IRS Form 1065)

This is a limited liability company elected to be taxed as a partnership.

Low IRS audit profile filing Form 1065

Legal protection with an LLC, but

ALL profits of ALL partners subject to self-employment taxes

Limited tax-free benefit deductions.

5. S-Corporation (IRS Form 1120S)

Legal protection, but all downhill from here

High IRS audit risk and Tax Court litigation where the taxpayer always loses likean 0-16 football season!

Owners must receive highly taxed W-2 salaries with all kinds of garbage withholding taxes

Payroll filings along with the hassles

Limits on fully deducting any net losses

Other costly tax traps inherent with complex S-corps IRS regulations.

6. C-Corporation as a Primary Entity

(IRS Form 1120S)

Legal protection

Best tax-free fringe benefit deductions, but

Higher IRS audit profile (but not as high as Schedule C or S-corporations)

Double taxation on distributions to owners

Total limits on deducting any business net losses on your 1040 none!

Constructive dividends taxable

Numerous penalty taxes.

The Best Business Entity Ever, Lucky Number 7

The Special Two-Class Member

LLC-Partnership Using

Business Business LLC System

Summary of its Money-Saving Benefits:

Legal protectionwith a 2-class member limited liability company

Very low IRS audit risk (on Form 1065)

Most of the net profits are NOT subject to self-employment taxes

NO controversial IRS issues as with corporations like reasonable salary or constructive dividends

NO highly taxed W-2 salaries have to be paid to the Members

NO payroll taxes withheld from the Members

NO payroll filings and hassles for the Members

NO limits on fully deducting any business net losses

NO double taxation

Tax-free fringe benefit deductions

NO other costly pitfalls

In summary, the best Legal Protection Tax Saving IRS Audit-Proofing benefits with no costly detriments, unlike any other ownership form! TrulytheOPTIMUMEntity For You.

Business Business LLC System-The Complete LLC System For All Types Of Small Businesses With The Most Powerful Legal Documents WITHOUT Expensive Lawyers.

Many CPA or law firms(if you could find them) would charge much higher, like $2,000, $3,000, $5,000, even more for one LLC and not with the extraordinary documents of this system!

Please Click Link Below No Discount Code is Needed at Checkout !!!

The Business Builders LLC System

https://information-services-unlimited.myshopify.com/products/the-business-builders-llc-program

To see all of our Products, please click link below

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