Choosing the best retirement plan for small business owners and their employees is no simple matter. Learning the nuances between a traditional IRA, including the Simple IRA and SEP IRA, can make your head swim. Add to that 401k plan options like Traditional, PEP, Solo, Roth, and Safe Harbor 401k, and you’re practically under water.Continue reading
Category Archives: Startups
Advantages and Disadvantages of Forming an LLC
1. Limited Liability
The most popular reason people form an LLC is to protect their personal assets. LLCs ensure that, legally, you are not held personally responsible for the debts and liabilities as a result of the company’s business. This avoids personal litigation, seizure of personal property, and bankruptcy.
3 Reasons to Incorporate Your Business
When starting a new business, one of the first decisions to make is whether to form your company as a sole proprietorship, partnership, Limited Liability Company (LLC) or incorporating a business. Incorporating an existing business brings up other questions of when, why and how. There are advantages and disadvantages to each type, but the benefits of incorporating your business should play a key role in your decision-making process. Here are the top 3 reasons to incorporate your business: