Carpal Tunnel
New Member
- 7
Hi. First post here.
I have an existing business doing bookkeeping and taxes. I am registered as a for-profit corporation and I have an s-corp election with the IRS.
I am now licensed to sell life & health products.
I am considering splitting into two separate businesses -- insurance and tax -- and I'm wondering about the best way to protect myself against unknown potential threats of lawsuits, IRS, etc.
For the insurance business, is it better to be an llc taxed as a corporation, or to register as an for-profit corp?
Should I even split the businesses?
Does anyone have any strategy for protecting personal assets?
I know the tax benefits of a s-corp, but does it make piercing the veil easier?
Thanks for any insight you may have. I know this is a lot.
I have an existing business doing bookkeeping and taxes. I am registered as a for-profit corporation and I have an s-corp election with the IRS.
I am now licensed to sell life & health products.
I am considering splitting into two separate businesses -- insurance and tax -- and I'm wondering about the best way to protect myself against unknown potential threats of lawsuits, IRS, etc.
For the insurance business, is it better to be an llc taxed as a corporation, or to register as an for-profit corp?
Should I even split the businesses?
Does anyone have any strategy for protecting personal assets?
I know the tax benefits of a s-corp, but does it make piercing the veil easier?
Thanks for any insight you may have. I know this is a lot.
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