“I’m starting a new business. Which business structure is best for me?”
That is the most important decision to consider when starting a new business.
Many new business owners make the mistake of picking a LLC and they end up paying dearly for it!
Did You Know That Your Business Structure Determines How Much You Pay In Federal Income Taxes?
Here are a few of the reasons why a LLC is often a bad choice:
- Up to $15,000.00 a year in Self Employment Tax.
- Expensive lawyers to form it CORRECTLY… or you could try and be your own lawyer and that could be both risky and potentially devastating!
- The IRS DOES NOT recognize the LLC as a business form.
- Tax laws for LLC’s are not fully developed and you are more likely to run into an issue that the IRS and the Courts haven’t decided yet.
- One of the original members of a Texas LLC cannot sell their interest (did the “online lawyer” website warn you about that?)
How Business Taxes vary on the same income
|Payroll Tax on 60%||5,508||7,344||9,180||11,016||18,870|
|Net Income Before Owner Comp.||60,000||80,000||100,000||120,000||240,000|
Don’t make the LLC mistake! Let Gray & Associates CPA, P.C. help you decide which business structure is right for you!
Here’s why we should talk:
- We have carefully studied the IRS tax code to determine which business structures offer our clients the best possible tax scenarios.
- We can set you up with a smart business structure that will hold up in Court.
- We can set you up with a tax-friendly business structure that could save you thousands of dollars in taxes each year.
Why Risk It? Contact Us Today for a Free Consultation
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