Those starting a new business as well as anyone with an established business sometimes require expertise and guidance when it comes to forming or changing a business designation.
Anytime a new business is started there are a number of decisions that must be made. Perhaps one of the first decisions of all is to choose the type of business entity that would be most advantageous to your particular needs.
Businesses can be set up as a C-corporation or an S-corporation as well as a sole proprietorship, partnership and even a nonprofit. Other options include Limited Liability Companies and Limited Liability Partnerships.
CPA For Taxes In Atlanta
The question really becomes which type of business entity is best for your unique situation. An Atlanta IRS tax lawyer can often help you navigate the complexities of making this type of choice.
There are number of factors that must be taken into account when it comes to determining which organization will be best for your situation.
There are legal factors, business-related considerations and tax considerations that must all be addressed when choosing which type of business organization will suit your situation in a most beneficial way.
IRS Tax Help In Atlanta
In the simplest of terms, business organizations can be separated into two main groups. There are corporations where taxes are calculated at the corporate level and then there is what is known as pass-through entities where shareholders must bear the burden of taxation.
Businesses that will be taxed in a corporate capacity are typically C-corporations, LLCs that are taxed as C-corporations and various types of nonprofits.
Conversely, there are businesses that are taxed as pass-through entities. These would include S-corporations, sole proprietorships, partnerships and LLCs.
Impact On Profitability
From a tax perspective in terms of Federal income tax, there are several forms of business organizations that must be taken into account. This includes the sole proprietorship, C-corporation, S-corporation, partnership, nonprofits and trusts.
Choosing the right type of organizational structure can have a profound impact on profitability and overall tax burden. Working with the IRS lawyer in Atlanta will help to streamline your business operation and ensure that you make the right choice when it comes to your organizational structure.
Modern Tax Code
Working with a dedicated Atlanta tax attorney or CPA can be priceless in terms of saving businesses money over the short and long-term. Working as a true advocate for the individual or a business, an Atlanta tax lawyer can guide you through the complexities of today’s modern tax code.
Ultimately saving time, trouble, effort and money is what to expect when working with a tax pro. While many individuals and even some businesses choose to go it alone and do their own taxes, many experts recommend always working with the IRS tax lawyer in Atlanta.
Consult with your Atlanta tax expert to get all the details. Contact The Gartzman Law Firm, P.C. an Atlanta, Georgia tax lawyer today to learn more.