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Are You a Sole-Proprietor?
By Heather Cozby & Christine Bruno
Many business owners start out as sole-proprietors. They require little set up. A business license from the town, a bank account, maybe some insurance and you’re up and running. It gives you a chance to see if the business idea will work before moving to a more formal business entity.
But, it may be time to re-evaluate your entity type.
There can be strong reasons and benefits to change to a different type of entity such as legal protections and tax savings. There are many types of entities such as a limited liability company, C-corporation, S-corporation or partnership. A meeting with a C.P.A. and attorney can determine the best fit for you and your business.
If you have any questions regarding this topic or if you would like our firm to review your entity status, please call (508)224-4113 for an appointment.
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