Limited liability companies, or LLC's, are very popular, but necessarily the best choice.  LLC's combine the personal liability protection of a corporation along with operating flexibility. Like an S-corporation its owners (called members) enjoy the benefit of being taxed only once on their profits. Moreover, LLCs are very flexible regarding ownership and profit allocations.

In an LLC, it’s members are not personally liable for the debts and liabilities of the LLC. For example, if an LLC loses a big lawsuit and is forced into bankruptcy, the members will not be required to make up the difference with their own money.

One disadvantage of using a limited liability company is the potentially high payroll related and social security taxes.  The S-corporation is often a better choice.

We can help you make the right choice for your specific circumstances.

Simply call us 212-889-0781.