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.

BSB_2023 Year End Tax Planning for Businesses

2023 Year End Tax Planning For Businesses

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It is important that businesses and business owners review your tax and financial plans at year end. While there has been minimal tax legislation passed, the potential for change is…
BSB_2023 Year End Tax Planning for Individuals

2023 Year End Tax Planning for Individuals

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As we wrap up 2023, it’s important to take a closer look at your tax and financial plans and discuss steps to reduce taxes and help you save for your…
The Virginia State Flag and the US Flag flying together

Latest Tax Changes from Virginia Department of Taxation’s September Special Session

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The Virginia Department of Taxation recently released their updated 2023 Legislative Summary, which details the state and local tax legislation enacted during the 2023 Special Session held on September 6,…

Virginia Switches to Rolling Conformity Beginning With Tax Year 2023

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On April 12, following a special one-day reconvene session of the Virginia General Assembly, Gov. Glenn Youngkin signed S.B. 1405 to change Virginia’s method of conformity with the Internal Revenue…