REMEMBER, NEVADA IS THE NUMBER ONE STATE TO FILE YOUR COMPANY! THE SECRETARY OF STATE FILING AND DISCLOSURE REQUIREMENTS AND CORPORATE LAWS ARE LIKE NONE OTHER IN THE COUNTRY!

The Nevada C-Corporation is a wonderful entity because it is considered an individual person according to the IRS and the courts. It pays its own taxes, can live anywhere and transact business domestically as well as internationally. Click C-Corp above to read more.

The Nevada S-Corporation has many characteristics similar to the C-Corporation with some very important differences. It in itself is a major entity for what is called income or loss “pass through” for tax purposes. Click S-Corp above to read more.

The Limited Liability Company (LLC) is similar to an S-Corporation, but again, with some differences. The LLC has members rather than shareholders and is not bound by the formalities of meetings, meeting minutes and stock ownership. Click LLC above to read more.

The Nevada C-Corporation is a wonderful entity because it is considered an individual person according to the IRS and the courts. It pays its own taxes, can live anywhere and transact business domestically as well as internationally. It is generally in a lower tax bracket than an individual or proprietorship. A powerful tax strategy used is the ability for businesses offering individual products or services to separate multiple incomes thus, keeping their tax bracket lower; W-2 wage earners cannot do this. They must take in “ALL” income from all sources (W-2, 1099, Dividend, Interest, Capital Gains and the like) and include it under “One Tax Bracket!”

It can have many owners (stockholders) or just one. The owner can be known all over the world (like Donald Trump) or the company can be structured where no one can find whom the owner is and where he or she lives. In addition, it separates business liability from the owner’s assets.

There are two things a corporation cannot do…It cannot die nor can it vote; you get to do both of these! This means you are able to give your company to your children’s, children (if you so choose).

The Nevada S-Corporation has many characteristics similar to the C-Corporation with some very important differences. It in itself is a major entity for what is called income or loss “pass through” for tax purposes. The S-corporation is great for real estate since most will lose money (after depreciation and business expenses) “on paper for tax purposes” but in reality, there is a cash flow enjoyed by the shareholder. Another difference is the company’s tax return is filed as part of the owner’s personal tax return. If there is a loss, it will be transferred to the owner’s 1040 reducing any other taxable income.

Another major difference between the S-Corporation and a Sole Proprietor, if there is a taxable income, the dividend is not subject to the 15.3% “Self Employment” tax. This alone may save thousand of dollars in taxes

The Limited Liability Company (LLC) is similar to an S-Corporation, but again, with some differences. The LLC has members rather than shareholders and is not bound by the formalities of meetings, meeting minutes and stock ownership. Many choose LLCs because they are simple to operate and have the “pass-through” characteristics for tax purposes without the burden of encumbering the 15.3% self-employment tax.

“NOTE” Let me caution you out there, the IRS is going after this Self Employment issue because many LLCs are not paying any salaries to any of their Managers and/or Managing Members. Because of this, the IRS has begun treating LLC pass through like schedule-C income when auditing a taxpayer that is in violation. This means if the IRS wins the day, this pass-through benefit may cease to exist and the 15.3% Self Employment tax will then apply! There are still cases pending before the courts, but the IRS seems to be setting precedence. You do not have these issues with corporations as long as there is a reasonable salary paid.

All three entities provide Liability Protection and tax benefits. No one should ever be in business without at least one of these structures set in place. Always remember, structure is everything, especially when you are protecting everything you have worked for your entire life!

C-Corp, S-Corp Order Form
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LLC Order Form
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Print both pages of the order form, fill out the forms, and fax to our Main Office at 775-636-7569. Please contact us with any questions or concerns regarding the order form.