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.

Companies Must Prepare Now to Get Ahead of the SEC’s New Cybersecurity Rules

| ASSURANCE | No Comments
The Securities and Exchange Commission’s (SEC) finalized cybersecurity rules expand public companies’ cyber risk management and disclosure responsibilities. A host of new requirements not only mandate timely disclosure of material…

Understanding the Impact of Workforce Reductions on 401(k) Plans

Employee turnover often triggers a wave of issues for a company and its human resources department. Even 401(k) retirement plans — one of the most sought-after employee benefits — can…

Revisiting Eligibility for Small Business Taxpayer Exemptions

| TAX | No Comments
“An exemption from UNICAP? And no limitation on the amount of business interest expense I can deduct? Sign me up!” Many taxpayers (and their tax return preparers) have eagerly embraced…

Complying with SECURE Act Changes to Long-Term Part-Time Employee Eligibility and IRS Form 5500

| TAX | No Comments
Two significant regulatory changes to retirement plans require immediate attention from plan sponsors, both to ensure current operational compliance and to comply with upcoming deadlines. Many long-term, part-time (LTPT) employees…