VOLUME 8 2023

As a new business owner, it's crucial to pick a business structure that'll work for you. From running an LLC to starting a partnership, we're breaking down the advantages and disadvantages to each structure.

There are many varied factors to consider when structuring your new business, so in this newsletter you’ll find the definitions for each entity, their filing requirements, and what our advisors can do for you. We’ll also cover what it takes to be the sole owner of your business or take on a partner, preparing you to take the next step for your business.


Sole Proprietorships vs. Partnerships

Learn about the pros and cons of sole proprietorships and partnerships when it comes to ownership, management, liability, and continuity.


Everything you need to know about C Corps

With this guide, weigh the advantages of complex ownership structures against potential double taxation.


Everything you need to know about S Corps

As a tax-efficient and liability-protective business structure, an S Corp can be a good way to structure your small business. Take a look at the eligibility and filing requirements.


Everything you need to know about LLCs

Discover the advantages of forming an LLC and explore filing requirements and key considerations for small business owners in this comprehensive guide.


Visit our Tax Hub

Have you visited our Tax Hub yet? For other helpful tools like the ones linked in this newsletter, such as tax checklists, our tax deadline calendar and more, be sure to check it out.


About Padgett

At PADGETT BUSINESS SERVICES®, we know the stresses of running a business can keep owners awake at night. Your business is your livelihood — and quite possibly the livelihood of your employees — so it’s no wonder it’s always on your mind. PADGETT is here to help. We offer tax, accounting, payroll and advisory services that can help your business reach new heights, allowing you to rest easy.

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PADGETT BUSINESS SERVICES® is dedicated to meeting the accounting, tax, payroll, compliance and advisory needs of small businesses. This publication is intended for informational purposes only and should not be construed as tax or legal advice. Such information is by nature subject to revision and may not be the most current information available. You should seek advice from a PADGETT BUSINESS SERVICES® representative or an independent advisor before acting on any of the information contained in this document. Each office is independently owned and operated.