Did you know that LLC’s are the most common type of business entity? They are great but not for everyone, every circumstance, and for the life of your business.
In fact, you might be ready for a different business classification altogether.
Here are three common reasons people may “outgrow” an LLC business entity:
- If you want to receive different tax benefits, an S-Corp may be a better fit for you.
- If your business has grown from a single-member or a partnership to a different operating structure, it is probably time for a corporation (either a C-Corp or S-Corp).
- If you want to raise public funds for business expansion, you will probably need to convert to a C-Corp.
In any case, you will need to have the right business entity upon filing taxes.
When was the last time you reviewed these business details? Book a call with us to discuss your growing business and changing needs. We’ll make sure your business is in tip-top shape!
P.S. Did you know that we offer a free 15-minute consultation for new clients? If that’s you, we invite you to click here for your complimentary intake call!