If you’re getting ready to start a new business, you may already know the many benefits of officially registering it with your state. As a successful entrepreneur, a top-flight corporate executive or a wealthy individual, you may have had experience starting or registering businesses. Or maybe you’ve turned an existing partnership or sole proprietorship into a corporate entity.
If you're wondering about the difference between an LLC, a C corp, or an S Corp, get help from an expert at Miller & Company, NY Certified Public Accountants, a best rated CPA firm in NYC.
Starting a new business in NYC is a thrilling time. Once the thrill has worn off, however, you realize how much hard work you have ahead of you. If you can get the business off to good start, though, you can carry that energy forward and reap even more of those hard-won rewards.
You need a methodical plan of action to start and run a successful NYC business enterprise. The business accounting experts at Miller & Company help you avoid the common pitfalls of many new businesses. Take advantage of the expertise for new business formation and business registration. Get help choosing a corporate structure and incorporating your business with your state. There are several viable business registration entities to select from:
The main reason to register and incorporate your business is to limit your liability. Starting a new business requires that you invest considerable time and money. By incorporating, you protect your personal wealth from the company’s profits or losses. That’s the main reason to incorporate and register your business. But there are other good reasons too, including:
But it’s not all wine and roses. Starting a corporation does have some disadvantages, such as:
A C corp is a standard corporate structure in which shareholders own the business. C corps limit each shareholder’s liability to their investment in the company. A C corp may be right for you and your shareholders if the following conditions apply:
The difference between a trade name and corporate name is that a trade name is typically a fictitious name. Your company might use a trade name when doing business — it’s also known as a DBA or Doing Business As. If your trade name differs from your corporate name, you can register a trade name with the Secretary of State to keep other businesses from using it.
A corporate name, on the other hand, is used by the entity formed by your corporation. Corporate names are typically followed by “LLC” or “Inc.” A corporate name is the official name of your business.
The process of incorporation transforms your business into a legal entity that’s separate from the individual founders, offering various levels of protection. Your new incorporated venture gives your business more creditability to vendors, employees and potential customers. It’s also more compliant with state law. New business formation follows specific steps that include:
In addition to the advice above and the links to areas where best CPA in Manhattan, Miller & Company can help get your business off the ground, these business experts can:
Do you have questions about services we offer including Business Registration in NYC and Long Island? Would you like to receive a personal Business or Company Registration consultation customized to your specific needs? To schedule an appointment with a nationally recognized, best CPA in Manhattan, Paul Miller of Miller & Company LLP, please contact our Long Island or NYC tax accountants for a FREE cpa consultation.
|Queens CPA Firm
Miller & Company LLP
Paul Miller, CPA (Queens Certified Public Accountants)
141-07 20th Ave, Suite 101
Whitestone, NY 11357
☎ (718) 767-0737
|Manhattan CPA Firm
Miller & Company LLP
Paul Miller, CPA (NYC Certified Public Accountants)
274 Madison Avenue, Suite 402
New York, NY 10016
☎ (646) 865-1444