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Posts Tagged ‘corporations’

Corporations 101: Double Taxation, Write-Offs, and Fringe Benefits

My corporations 101 series, which began with a look at roles, responsibilities and structure, continues. Let’s talk today about C corporations and money matters. When you create a C corporation, you’re establishing an entity that is legally independent of its shareholders and managers. The IRS views this entity as a “legal person” that can do business and make contracts. Most big brand companies are C corporations, and for good reasons: They […]

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Corporations 101: Roles, Responsibilities, Structure

How are corporations structured? What must you do to fund them and take money out? How do you set them up? What are best business practices? I’ve talked in previous blog posts about specific aspects of closely held businesses, such as shareholder disputes and the rights of minority shareholders. Today, I want to get back to basics with a series that I’m calling Corporations 101. Let’s start with the first question above: […]

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Do Good or Make Money? Benefit Corporations Have it Both Ways

It used to be that the business world was divided in a binary manner: for-profit companies on the one side, nonprofits on the other. A company’s purpose was either to make the most money or to do the most good, and entrepreneurs who wanted to seek profits but also act in a socially responsible way had a hard time defending their business practice against shareholder interests. As an answer to […]

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Corporation v LLC: Which is Better For Startups?

You’re the entrepreneurial type. You and your friend would like to open a gym in your neighborhood strip mall. Or you want to sell mini quiches to a couple of cafés around town. Or you’ve designed an app that, with some help from investors, is destined to be the next big thing on the high-tech market. Questions arise: do you need to form a company to pursue your dream? If […]

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