business entity structure

An OIC allows you to settle your tax debt for less than the full amount you owe, providing a fresh start for those who qualify.

Eligibility is based on your ability to pay, income, expenses, and asset equity. We can help determine if an OIC is right for you.

It involves submitting detailed financial information to the IRS to demonstrate that paying the full debt would create financial hardship.

Most tax debts, including federal income taxes, penalties, and interest, can be settled, but there are exceptions, such as certain penalties.

The process can vary, typically taking 4-12 months, depending on the complexity of your case and IRS backlog.

Acceptance isn't guaranteed. Success depends on your specific financial situation and meeting the IRS's criteria for compromise.

If rejected, you can appeal the decision, or we can explore other tax relief options that might better suit your situation.

Starting is as simple as scheduling a consultation with us to review your financial situation and discuss the feasibility of an OIC.

You may choose to make payments to reduce your balance; however, certain types of tax collection actions are suspended while the OIC is under review.

Accepting an OIC requires you to stay compliant with all filing and payment requirements for the next five years, or the compromise can be revoked.

An LLC offers flexibility and personal asset protection, an S-Corp provides pass-through taxation, and a C-Corp allows for unlimited shareholders and potential tax benefits.

The right structure depends on several factors, including liability concerns, tax implications, and your business goals. We can help you weigh these factors to make the best choice.

Each structure has unique tax considerations, from self-employment taxes to corporate taxation. We'll guide you through these to find the tax-efficient option for you.

Yes, as your business grows and changes, you may find that a different business structure better suits your needs. We can assist with the transition process.

Generally, you'll need a business name, a registered agent, and details about the owners and management structure. We'll provide a complete checklist.

The timeframe can vary based on the complexity of your business and the state's processing times, but we aim to make it as swift and smooth as possible.

Yes, both LLCs and corporations can provide a shield for your personal assets from business liabilities when properly structured and maintained.

Yes, most entities have annual reporting requirements and other ongoing obligations. We offer services to help you stay on top of these.

We can conduct a search to ensure your desired business name isn't already in use and help you secure it as part of the entity formation process.

Costs vary by state and entity type, including state filing fees and any required licenses or permits. We provide a detailed breakdown of expected costs upfront.