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Friday 22 September 2023
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Common Business Structures

A Sole Proprietorship is a one-person business. There is no paperwork to fill out to accomplish this. The profit or loss from the business is carried to the personal tax return of Sole Proprietor. The Sole Proprietor is liable for all debts and other liabilities of the company.

A Fictitious Name Registration (DBA = doing business as) is required in most states. You must file your fictitious name registration before starting the operation of your business. In some cases, it must be filed within 30-40 days of your first business transaction. In addition, several states require that you publish your DBA statement in a local newspaper, and then file proof of publication with the proper government office. The purpose of the publication requirement is to ensure the public is informed of new businesses in the area, their legal name and ownership.

A Partnership has two or more people involved. The profit or loss is divided between the partners and carries to their personal tax returns. Each partner is personally liable for the debts or other liabilities of the company.

A Corporation is a separate and distinct legal entity. That means that a Corporation can open a bank account, own property, and do business all under its own name. Corporations are managed by a Board of Directors which is responsible for making major business decisions and overseeing the general affairs of the Corporation. Directors are elected by the Shareholders of the Corporation. Officers who run the day to day operations of the Corporation are appointed by the Directors.

The main advantage of the Corporation is that its owners, known as Stockholders or Shareholders, are not personally liable for any of the debts or liabilities of the Corporation. For example, if a Corporation gets sued or it is forced into bankruptcy, in most cases, the owners will not be required to pay the debt with their own money if the assets of the corporation are not enough to cover the debts. The creditor cannot, in most circumstances, go after the Shareholders, Directors or Officers of the Corporation to recover any loss.

Investors in business often risked everything they had if the new business turned bad. When the company was out of money and didn’t have the cash to pay creditors, the investors had to make up the difference with their own money. With the advent of the Corporation, investors could avoid this type of liability by forming a Corporation and as a result more people are more willing to invest their money in business ventures. The formation of Corporation as a business entity can help reduce your taxes but more importantly you can provide for peace of mind by protecting your personal assets.

There are two types of Corporation. The IRS allows for a Corporation to be taxed either as a C Corporation or as an S Corporation.

A C corporation’s profits are taxed at two levels which is commonly referred to as double taxation. A C Corporation pays the corporate tax on its corporate income then the C Corporation distributes profits as dividends to shareholders who pay income tax on those dividends.

The way to avoid the double taxation of a C corporation is to make a special election with the IRS to be taxed as an S Corporation. This means that your income will be taxed like a partnership or sole proprietor. That way there’s only one level of taxation. Corporate profits and losses are passed through to the owners who pay the taxes on the profits at the individual personal tax rates instead. You can use income shifting to take advantage of lower tax brackets

Let’s look at an example:

For purposes of this example we will assume that ABC Company is a sole proprietorship and has an income of $100,000. As a sole proprietorship the tax rate is 25%. If it were ABC Corporation instead, let’s assume business owner takes $50,000 in salary and leaves $50,000 for profit. The federal corporate tax rate would be (15% of $50,000) The personal tax rate is at (15% of $50,000) as well. This is a distinct advantage of forming a Corporation.

Other Advantages:

Corporations can provide employee benefit packages for your employees. You can lease assets to your Corporation. The business pays a lease fee and can claim rental income and expenses including interest, depreciation, repairs, maintenance, insurance and administrative costs.

In a Corporation there are no restrictions on the amount of capital or the operating losses that a Corporation may carry back or forward to subsequent tax years. A sole proprietor can’t claim a capital loss greater than $3,000 unless he or she is offsetting capital gains.

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  165. Coral Business Times: Coral Business Times delivers news, insights, and analysis on various business topics. Stay informed about market trends, industry updates, and corporate developments.
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  167. Global Business Tips: Global Business Tips provides valuable insights and tips for businesses operating in the global market. Explore their articles to navigate international trade, cultural differences, and global business trends.
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  170. Great Business Ideaz: Great Business Ideaz showcases innovative business ideas and success stories from around the world. Get inspired and explore new possibilities for your own entrepreneurial journey.
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  173. World Business Infos: World Business Infos delivers news, analysis, and insights into the world of business. Stay informed about global market trends, industry updates, and economic developments.
  174. Tips2Biz: Tips2Biz provides practical tips, advice, and resources for entrepreneurs and small business owners. From productivity hacks to customer acquisition strategies, this blog covers various aspects of running a successful business.
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  177. Business Links: Business Links provides a curated collection of useful links and resources for entrepreneurs and small business owners. Discover valuable tools, websites, and platforms to support your business endeavors.
  178. Loud Business Tips: Loud Business Tips offers practical advice and tips for entrepreneurs and business owners. From leadership skills to marketing strategies, this blog helps you navigate the challenges of running a business.
  179. Web Business Tips: Web Business Tips provides insights and resources for online businesses and digital entrepreneurs. Discover e-commerce strategies, website optimization tips, and digital marketing tactics.
  180. LLC Business News: LLC Business News delivers news, updates, and insights for limited liability companies (LLCs). Stay informed about legal requirements, tax implications, and management best practices for your LLC.
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  187. World Bizness Market: World Bizness Market offers a platform for businesses to showcase their products and services to a global audience. Expand your market reach and connect with potential customers worldwide.
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  190. Success Business 101: Success Business 101 provides resources and insights for individuals aspiring to start or grow their own business. Discover success stories, tips, and strategies for entrepreneurial success.
  191. Core Business Ideas: Core Business Ideas offers a collection of business ideas and opportunities for entrepreneurs. Explore various industries and discover potential ventures to pursue.
  192. Usual Business Tips: Usual Business Tips provides practical advice and tips for running a successful business. From management strategies to customer service tips, this blog covers essential aspects of business operations.
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  200. Biotech CBD: Biotech CBD offers insights and updates on CBD research, biotechnology advancements, and the intersection of CBD with healthcare. Stay informed about the latest developments in the CBD industry.
  201. Cannabis Plants 4U: Cannabis Plants 4U provides resources and guidance for cannabis cultivation. Whether you’re a home grower or a commercial producer, explore their articles for tips on growing healthy cannabis plants.
  202. Top Shop Cannabis: Top Shop Cannabis showcases a wide range of cannabis products, accessories, and merchandise. Discover quality products and stay updated with the latest trends in the cannabis industry.
  203. Just Talk CBD: Just Talk CBD offers insights, tips, and information about CBD and its potential benefits. Join the conversation about CBD and its impact on health and wellness.
  204. CBD Tipz: CBD Tipz provides tips, advice, and resources for individuals interested in incorporating CBD into their lifestyle. Learn about different CBD products, dosage recommendations, and potential health benefits.
  205. CBD Life Better: CBD Life Better explores the world of CBD and its impact on overall well-being. Discover articles, product recommendations, and personal stories related to CBD and its applications.
  206. Live with Cannabis: Live with Cannabis promotes a lifestyle centered around cannabis and its various uses. Discover cannabis-related events, experiences, and lifestyle tips.
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  211. Advice4CBD: Advice4CBD provides expert advice and information about CBD products and their usage. Explore their articles for guidance on finding the right CBD products for your needs.
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  213. Store2Cannabis: Store2Cannabis offers a curated selection of cannabis products from various brands and dispensaries. Discover a wide range of products and find the ones that suit your preferences.
  214. Cannabis Wikis: Cannabis Wikis provides comprehensive information, guides, and resources related to cannabis. Explore their articles to expand your knowledge about cannabis cultivation, strains, and usage.
  215. A2Z Cannabis: A2Z Cannabis offers a comprehensive directory of cannabis-related businesses, including dispensaries, delivery services, and product manufacturers. Find the best cannabis products and services in your area.
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  218. CBD4Lifes: CBD4Lifes offers information, tips, and resources on incorporating CBD into a healthy lifestyle. Learn about the potential health benefits of CBD and explore a variety of CBD products.
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  220. HARB Cannabis: HARB Cannabis offers a curated selection of premium cannabis products, emphasizing quality and sustainability. Explore their products and elevate your cannabis experience.
  221. Cannabidiol Power: Cannabidiol Power provides insights, news, and updates about CBD and its potential health benefits. Stay informed about the latest research, product reviews, and industry developments.
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  223. Bright Crypto FX: Bright Crypto FX provides news, analysis, and insights into the world of cryptocurrency trading. Stay updated with market trends, trading strategies, and investment opportunities.
  224. Buy BTC Ethereum: Buy BTC Ethereum offers resources and guidance for individuals interested in buying and investing in cryptocurrencies. Learn about Bitcoin, Ethereum, and other digital assets.
  225. Bitcoin4Businesses: Bitcoin4Businesses provides insights, news, and updates on the integration of Bitcoin and other cryptocurrencies into the business world. Discover the potential applications and benefits of cryptocurrencies for businesses.
  226. Brokers4Bitcoin: Brokers4Bitcoin offers a platform for individuals to buy, sell, and trade Bitcoin and other cryptocurrencies. Discover trusted brokers and exchanges to facilitate your cryptocurrency transactions.
  227. BTC Blockchains: BTC Blockchains delivers news, insights, and updates on blockchain technology and its impact on various industries. Stay informed about the latest developments in blockchain and decentralized applications.
  228. Cryptocurrency Tradings: Cryptocurrency Tradings offers resources, tips, and strategies for trading cryptocurrencies. Learn about technical analysis, risk management, and trading platforms to enhance your trading skills.
  229. Buy Sells Bitcoin: Buy Sells Bitcoin provides resources and guidance for individuals interested in buying, selling, and investing in Bitcoin. Stay updated with market trends and investment strategies.
  230. How2TradingCrypto: How2TradingCrypto offers educational resources and guides for individuals venturing into cryptocurrency trading. Learn the basics, trading strategies, and technical analysis techniques.
  231. Cryptocurrency Tipz: Cryptocurrency Tipz delivers tips, insights, and analysis for cryptocurrency enthusiasts and traders. Stay informed about market trends, ICOs, and investment opportunities.
  232. Follow Cryptocurrency: Follow Cryptocurrency provides news, analysis, and insights into the world of cryptocurrencies. Stay updated with the latest developments in Bitcoin, altcoins, and blockchain technology.
  233. Gain My BTC: Gain My BTC offers resources and insights for individuals looking to earn, accumulate, and grow their Bitcoin holdings. Discover various methods, platforms, and strategies to increase your BTC portfolio.
  234. Coinbase BTC Blog: Coinbase BTC Blog provides updates, news, and insights from the popular cryptocurrency exchange, Coinbase. Stay informed about new features, listings, and industry partnerships.
  235. BTC Insight: BTC Insight delivers news, analysis, and insights into the world of Bitcoin and cryptocurrencies. Stay updated with the latest market trends, regulatory developments, and technological advancements.
  236. Crypto Biz Tips: Crypto Biz Tips offers tips, advice, and resources for individuals interested in starting or growing a business in the cryptocurrency industry. Discover entrepreneurial opportunities in the crypto space.
  237. Business with Coin: Business with Coin provides insights, resources, and success stories of businesses integrating cryptocurrencies into their operations. Learn about the benefits and challenges of adopting cryptocurrencies in business.
  238. Invests in Crypto: Invests in Crypto offers investment strategies, tips, and recommendations for individuals interested in the cryptocurrency market. Explore potential investment opportunities and stay updated with market analysis.
  239. Crypto Business Tips: Crypto Business Tips provides insights, resources, and tips for entrepreneurs and businesses operating in the cryptocurrency industry. Discover strategies for success in this dynamic market.
  240. The Crypto Coinbase: The Crypto Coinbase offers news, updates, and insights from Coinbase, a leading cryptocurrency exchange. Stay informed about platform features, security measures, and industry trends.
  241. BTC Coinbase Blog: BTC Coinbase Blog delivers news, updates, and analysis related to Bitcoin and Coinbase. Stay informed about the latest developments in the world of cryptocurrencies.
  242. News Global BTC: News Global BTC provides news, analysis, and insights into the world of Bitcoin and cryptocurrencies. Stay updated with market trends, regulatory changes, and technological advancements.
  243. Insider Crypto Trading: Insider Crypto Trading offers trading strategies, tips, and insights for cryptocurrency traders. Enhance your trading skills and stay updated with market analysis and indicators.
  244. Brokers4Crypto: Brokers4Crypto offers a platform for individuals to find and compare cryptocurrency brokers and exchanges. Discover trusted platforms for buying, selling, and trading cryptocurrencies.
  245. Coin BTC News: Coin BTC News delivers news, analysis, and insights into the world of Bitcoin and cryptocurrencies. Stay informed about market trends, ICOs, and blockchain technology.
  246. The Cryptocurrency Coins: The Cryptocurrency Coins provides news, analysis, and insights into the world of cryptocurrencies. Stay updated with the latest developments in Bitcoin, altcoins, and decentralized finance.
  247. Day Trades Crypto: Day Trades Crypto offers strategies, tips, and resources for day trading cryptocurrencies. Learn about technical analysis, market indicators, and risk management to improve your trading performance.
  248. Coins Trading Forum: Coins Trading Forum provides a platform for cryptocurrency enthusiasts to discuss trading strategies, share insights, and exchange knowledge. Connect with fellow traders and expand your network.
  249. The BTC Coinbase: The BTC Coinbase offers news, updates, and insights from Coinbase, a leading cryptocurrency exchange. Stay informed about market trends, listings, and industry developments.
  250. Trade Crypto 4 Profit: Trade Crypto 4 Profit provides resources, tips, and strategies for profitable cryptocurrency trading. Learn about technical analysis, market timing, and risk management to maximize your trading profits.
  251. Major Coins News: Major Coins News provides the latest news, updates, and insights on major cryptocurrencies. Stay informed about market trends, ICOs, and regulatory developments.
  252. The Coinbase News: The Coinbase News delivers news, analysis, and updates on Coinbase, one of the leading cryptocurrency exchanges. Stay informed about platform features, listings, and industry partnerships.
  253. How2TradeCoin: How2TradeCoin offers educational resources and guides for individuals venturing into cryptocurrency trading. Learn the basics, trading strategies, and technical analysis techniques.
  254. Coins FX: Coins FX provides insights, news, and updates on the foreign exchange market and its intersection with cryptocurrencies. Stay informed about currency trading strategies and market trends.
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  256. 360 Crypto Coin: 360 Crypto Coin provides comprehensive coverage of the cryptocurrency market. Stay informed about market prices, altcoins, and blockchain technology.
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  258. Power Crypto Systems: Power Crypto Systems provides resources and tools for individuals interested in cryptocurrency mining and blockchain technology. Discover the latest mining hardware, software, and profitability calculators.
  259. Crypto Cash Center: Crypto Cash Center offers resources and guides for individuals interested in earning, managing, and cashing out cryptocurrencies. Learn about crypto wallets, exchanges, and secure storage options.
  260. Crypto Coin Inquiry: Crypto Coin Inquiry provides comprehensive information and analysis on various cryptocurrencies. Explore their articles to understand the technology, use cases, and potential of different coins.
  261. Crypto Financial Traders: Crypto Financial Traders offers financial insights, market analysis, and trading strategies for cryptocurrency traders. Stay updated with the latest trends and opportunities in the crypto market.
  262. CryptoNiox: CryptoNiox provides news, analysis, and insights into the world of cryptocurrencies. Stay informed about market trends, regulatory changes, and technological advancements.
  263. FXCryptoz: FXCryptoz offers resources, analysis, and educational content for individuals interested in cryptocurrency trading. Learn about forex trading strategies, market analysis, and risk management.
  264. Buy Sell Cryptocurrencies: Buy Sell Cryptocurrencies provides a platform for buying and selling cryptocurrencies securely and efficiently. Explore their platform for seamless transactions.
  265. Crypto Ruble Coins: Crypto Ruble Coins focuses on providing information and updates on the Russian cryptocurrency market. Stay informed about regulations, projects, and market trends specific to Russia.
  266. Experts Crypto Trading: Experts Crypto Trading offers expert insights, analysis, and trading signals for cryptocurrency traders. Stay ahead of the market with their comprehensive trading strategies.
  267. International Crypto Trades: International Crypto Trades provides insights and resources for individuals interested in global cryptocurrency trading. Explore international exchanges, regulations, and investment opportunities.
  268. Crypto Nice Deals: Crypto Nice Deals showcases the latest deals, discounts, and promotions on cryptocurrency-related products and services. Save money while exploring the crypto world.
  269. Just4UCrypto: Just4UCrypto offers personalized insights, recommendations, and resources for cryptocurrency enthusiasts. Discover tailored content based on your interests and investment preferences.
  270. Best Tradings Crypto: Best Tradings Crypto provides trading tips, market analysis, and insights for cryptocurrency traders. Enhance your trading skills and stay updated with market trends.
  271. XBTC Crypto: XBTC Crypto delivers news, analysis, and insights into Bitcoin and its ecosystem. Stay updated with the latest developments in the world’s leading cryptocurrency.
  272. AOI Crypto Traders: AOI Crypto Traders offers resources, tips, and insights for cryptocurrency traders. Explore their articles for trading strategies, technical analysis, and market updates.
  273. News4BTC: News4BTC provides the latest news, updates, and insights on Bitcoin and other cryptocurrencies. Stay informed about market trends, regulatory changes, and technological advancements.
  274. Crypto Prices 4U: Crypto Prices 4U offers real-time cryptocurrency prices, market charts, and portfolio tracking tools. Monitor your investments and stay updated with the market.
  275. 247 Crypto Tradings: 247 Crypto Tradings provides comprehensive resources and insights for cryptocurrency traders. Explore their articles and stay ahead of the curve in the dynamic crypto market.
  276. Let’s Crypto: Let’s Crypto offers educational resources, guides, and news for individuals interested in learning about cryptocurrencies and blockchain technology. Discover the fundamentals and potential applications of crypto.
  277. Newz Cryptos: Newz Cryptos delivers news, analysis, and insights into the world of cryptocurrencies. Stay updated with the latest developments, market trends, and regulatory changes.
  278. Buy Crypto Bitcoins: Buy Crypto Bitcoins provides resources and guides for individuals interested in buying Bitcoin and other cryptocurrencies. Learn about exchanges, wallets, and security practices.
  279. Crypto ATM 360: Crypto ATM 360 offers a comprehensive directory of cryptocurrency ATMs worldwide. Find the nearest ATM to buy or sell cryptocurrencies conveniently.
  280. BTC Bloger: BTC Bloger delivers news, analysis, and insights into the world of Bitcoin. Stay updated with market trends, price movements, and adoption developments.
  281. Sell Crypto BTC: Sell Crypto BTC provides resources and guidance for individuals looking to sell their Bitcoin and other cryptocurrencies. Explore different selling options and exchanges.
  282. Cryptos World Currency: Cryptos World Currency provides information and insights into the world of digital currencies. Learn about the evolving landscape of alternative currencies and their impact on global finance.
  283. Great Crypto Coin Biz: Great Crypto Coin Biz offers news, analysis, and resources for individuals interested in the cryptocurrency industry. Stay informed about market trends, ICOs, and investment opportunities.
  284. Business Crypto Account: Business Crypto Account provides resources, insights, and tips for businesses venturing into the cryptocurrency space. Discover the potential benefits and challenges of adopting cryptocurrencies in business operations.
  285. Best Crypto Major: Best Crypto Major provides news, analysis, and insights on major cryptocurrencies. Stay updated with the latest trends, technological advancements, and market opportunities.
  286. Crypto 4 Interest: Crypto 4 Interest offers resources and insights for individuals interested in earning interest on their cryptocurrency holdings. Explore different platforms and strategies for passive income generation.
  287. Crypto Invest Account: Crypto Invest Account provides resources and guidance for individuals interested in investing in cryptocurrencies. Learn about different investment strategies, portfolio management, and risk mitigation.
  288. Crypto Investing 247: Crypto Investing 247 offers insights, tips, and resources for individuals interested in investing in cryptocurrencies. Stay updated with market analysis, ICOs, and investment opportunities.
  289. Crypto Into Wallet: Crypto Into Wallet provides information and resources on cryptocurrency wallets and security practices. Learn about different wallet types and best practices for securing your digital assets.
  290. A2Z Cryptocurrencies: A2Z Cryptocurrencies offers comprehensive information and analysis on various cryptocurrencies. Explore their articles to understand the technology, use cases, and potential of different coins.
  291. Trades Cryptocurrency: Trades Cryptocurrency provides insights, tips, and resources for cryptocurrency traders. Stay updated with market trends, trading strategies, and investment opportunities.
  292. Cryptocurrency 4U: Cryptocurrency 4U offers educational resources and insights for individuals interested in cryptocurrencies and blockchain technology. Learn about the fundamentals and potential applications of crypto.
  293. Crypto Supports: Crypto Supports delivers news, analysis, and updates on cryptocurrencies and blockchain technology. Stay informed about market trends, new projects, and regulatory developments.
  294. World Buy Crypto Currency: World Buy Crypto Currency provides resources and guides for individuals interested in buying cryptocurrencies from different regions. Discover international exchanges and local buying options.
  295. GTO Bad Teacher: GTO Bad Teacher offers resources, tips, and guidance for individuals interested in improving their poker skills and strategies. Learn from experienced players and enhance your game.
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  301. Fashion Styles: Fashion Styles showcases the latest styles, outfit inspirations, and fashion tips for individuals looking to enhance their personal style.
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  308. Improve Your Finances: Improve Your Finances provides tips, tools, and strategies to help individuals improve their financial well-being. Learn about money management, debt reduction, and wealth creation.
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  314. Money Finance Newz: Money Finance Newz delivers news, updates, and insights on personal finance, investing, and financial markets. Stay informed about market trends and new financial products.
  315. New Source of Finance: New Source of Finance provides resources, insights, and news on emerging sources of finance, such as crowdfunding, peer-to-peer lending, and impact investing.
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