As leader of the firm Companies Incorporated, Kevin Wessell has helped many businesses take important steps toward more secure futures. In particular, Kevin Wessell provides assistance in forming various types of legal business structures.
There are many different types of incorporated business structures. Business owners might feel overwhelmed by the possibilities, or they might be unsure of the differences between the various types. However, developing a basic understanding of these business structures, as well as their advantages and disadvantages, is important for individuals.
One of the most popular and common types of incorporated business structures is a limited liability company. This model lets business owners receive tax benefits that they would not otherwise have received as an unincorporated business. In addition, it provides the owners with asset protection. Namely, personal, non-business assets cannot be seized in lawsuits against the business.
Another kind of incorporated business structure is the C Corporation. In this model, the business forms a legal entity that is separate from the owners. In this type of arrangement, bank accounts can be opened in the business’ name. By talking with an expert in business structures, owners can make an informed decision about the type of structure they want to adopt.