Business Entity Selection

Choosing a business entity is one of the most important decisions a new business makes.

The team at BSB helps you weigh the pros and cons of each entity type and work with you to determine the right choice for your business.


Let's explore them together

You Have Options

Some of the most common business entity choices include Sole Proprietor, Partnership, Limited Liability Company (LLC), and Corporation. We look at several factors, including your need for liability protection, whether you want to avoid Social Security and Medicare on net earnings, and your comfort level in making estimated tax payments.

We also discuss different types of LLCs, S-Corporations, and other factors that may determine the best entity for your business. We look forward to answering- and asking-questions to help you make a confident, educated choice.

State and Local Income Tax Issues to Consider Before Making Your Next Tax Payment

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State and local taxes represent a key and often material part of a business’s total tax liability. Many states are reporting budget surpluses, reducing tax rates and offering new credits and…

Plan Sponsor Alert: Planning for the End of the COVID-19 Public Health Emergency and Outbreak Period

To help the American public endure the COVID-19 pandemic, Congress passed laws that provided billions of dollars in emergency funds to buy vaccines, tests, and other treatments that were free…

Mandatory Capitalization of R&E Expenses

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The Impact on Government Contracting Companies Government contracting entities often incur considerable expenses associated with the performance of research and development activities — both on behalf of their government agency…

Revised Filing Instructions for K-2 and K-3 for Partnerships and S-Corps

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The IRS recently issued revised instructions regarding 2022 Schedules K-2 and K-3 for partnerships and S corporations. In these instructions, the IRS responded to requests for expanded relief and clarity…