Top 5 Mistakes in Forming Your Corporation
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Incorporating without getting the advice of a good CPA
Since every state has different requirements and tax tables for corporations, and because there are different types of corporate entities (S corporations and C corporations, in addition to the separate category of LLCs), forming a corporation without getting input from a good CPA can cost you money in the long-run. Why? Because of the different ways corporate income and LLC income can be treated. In addition, very few states will permit a company to change business structures once that structure is decided upon, so it's important upfront to choose your entity wisely.
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