Tax & Business Forms Service
We Care About Your Business Filing Needs
Is a sole proprietorship right for you? If you're in business for yourself and you haven't created a formal business structure, then chances are, you're already a sole proprietor–so make sure you understand the implications. Sole proprietors are personally liable for the debts of their business. If the business is sued, your house, savings, and other personal assets are at risk. A sole proprietor is responsible to report all business profits as personal income, and pay self-employment tax on those profits, to cover Social Security and Medicare. There are no partners, shares, or membership interests in a sole proprietorship so it's generally difficult to attract investors without changing your business structure.
Business Services
We Make Your Business Our Business
We have an outstanding track record in dealing with a wide variety of tax and business filing needs. Floyd's Tax And Bookkeeping Service has worked with individuals and businesses - from the smallest of startups to the largest corporations - and is equipped for any challenge that may come our way. Whatever financial management advice you may need, please contact us to see how we can help you out.
DBA's
Sole Proprietorship
Build your brand with a DBA
Your business name helps establish your brand. Make it yours. Make it memorable.
DBA: If you're a sole proprietor, the legal name of your business is your own name. In most states, if you want to operate the business under a different name, you'll need to file for a DBA, "doing business as.
LLC's
Limited Liability Company
Limit your liability As a sole proprietor, you'll be personally liable for your business's debts and other liabilities. You may want to consider operating as a limited liability company (LLC) instead, so you're better protected.
What are the benefits of an LLC?
Unlike with a corporation, you aren't required to have a board of directors or shareholders with an LLC. You have more options in setting up your management structure.
An LLC protects you and your personal assets—including your car, home, and bank accounts—from liability if your business is ever sued or incurs debts.
With an LLC, you get to choose how you'll be taxed. By default, LLCs are taxed as pass-through entities, but you can decide to be taxed as a corporation or an S corporation.
Business Licenses
License your business now. We simplify the process.
We can help you obtain business licenses, tax registrations, seller's permits, DBAs, EINs, and 200 other license types from your government authorities.
Business Licenses You may need state or local permits and/or licenses to legally operate your business. We can help you figure out the business licenses you need.
Corporations & Non Profits
Saving You Money
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A corporation is a legal entity created under state law that can open a bank account, purchase property, enter into contracts and operate a business. One of the most important features of a corporation is that its owners are generally not personally liable for the debts of the corporation. Corporations are owned by shareholders and run by officers and directors.
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The difference between C-Corporations and S-Corporations:
C corp
C corp income is taxed twice, once to the business and once to the shareholder.
C corps have no limit on shareholders and also allows you to bring in foreign investors.
C corp shareholders get the benefit of preferred stock, should the corporation choose to distribute them. Preferred stock may not come with voting rights, but it can include guaranteed dividends.
S corp
S corp income is taxed once to the shareholder.
For S corps, you can't have more than 100 shareholders and they must be U.S. citizens or permanent residents.
An S corp can only issue common stock because common stock shareholders get voting rights. No one has preferred status—all shareholders are treated equally.
