What are the advantages of forming a Corporation?
There are several advantages to organizing your business as a formal corporation. A corporation is a separate legal entity that is distinct from its individual owners. Businesses that …
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What is an S Corporation?
There are several different types of corporations from which business owners can choose when they initially set up their business. One type of corporation is an S corporation. The …
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What is a C Corporation?
A C corporation is the most common type of corporation. The “C” refers to the subchapter of the Internal Revenue Code which explains the rules of taxation for this type of business …
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The Sarbanes Oxley Act: Success or Failure?
After the Enron scandal shocked the world and created doubt about the accounting principles of public companies, the United States Congress passed the Sarbanes-Oxley Act of 2002. The Sarbanes-Oxley Act created new standards that had to be met by publicly traded companies and accounting companies. It was designed to protect shareholders from fraud that could ultimately destroy their …
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Choosing your Business Entity Structure
Businesses can operate in a variety of structures, such as a sole proprietorship, partnership, limited partnership, corporation, or limited liability company. Each of these forms of incorporation provides certain benefits and also certain limitations. The legal structure of a business determines how it is managed, how it is taxed, and what regulations it must follow. So how do you …
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