OUR SOLUTIONS
FOR BUSINESSES AND CORPORATIONS
Starting your business was a big deal - something you might only do once in your life. Don't risk getting it wrong now.
Starting a business can literally change your life. Taking the first step is usually the most difficult task. Beginning the process correctly by forming an LLC is vital. It offers you and your family protection by separating your personal and business assets. It also helps to ensure that you are not not personally liable for mistakes your business might make. But, none of these processes take into consideration neither the growth that you envision, or the investment and money management strategies needed to achieve it.
Frequently Asked Questions about LLC's
What is an LLC?
- An LLC stands for a Limited Liability Company.
- The main reason for forming an LLC – whether you are starting a new business or formalizing an existing one – is to separate your personal affairs from your business.
- When done properly, and kept compliant, an LLC means you are not responsible personally for debts or liabilities of your business: invaluable protection.
- An LLC is also very flexible about who can own and manage the business and how you decide to manage its tax affairs.
- An alternative is a Corporation, which is often preferred by companies either seeking external investment, or plan on taking the company public. This comes with greater formalities such as requiring a Board of Directors, issuing stock, and creating bylaws.
- If you decide to create an LLC, it is possible to convert it to a Corporation in the future if your needs change.
How do I form an LLC?
- Forming an LLC is usually an easy process.
- First you need to pick a name for your LLC. You will need to conduct an initial name search to ensure that your proposed business name is available.
- You will then need to file official paperwork with your State. The exact rules vary by State.
- A filing fee is payable to the State as a cost of having an LLC there.
- You will also need an operating agreement (setting out the ‘rules’ of your company), an EIN to open a bank account and pay taxes, and licenses and permits.
- All but a few States require, by law, the appointment of a registered agent.
- There are also ongoing requirements – such as the filing of Annual reports and other Compliance documents.
- The set-up costs of an LLC are usually tax deductible.
Close
When you partner with Global Advisers, your questions help us understand your financial goals, and our answers help you to achieve your long term objectives.
Our Corporate Solutions combine enterprise-wide needed support services based on specialized knowledge and best practices. These include ongoing relationships with investment managers, attorneys, CPA and tax specialists, and financial advisers. Corporate services also include finance and banking services for complex issues. Some examples of tailored services include corporate bank accounts, offshore bank accounts, multi-currency accounts, brokerage accounts, private banking, market research, and risk evaluation.
Frequently Asked Questions about Corporations
What’s the difference between a C corporation and an S Corporation?
The IRS allows corporations to choose to be taxed as either a “C corporation” or an “S corporation.” Income from C corporations are subject to double taxation; that is, the corporation pays taxes on its net income and then the shareholders also pay taxes on the income that they receive from the corporation.
S corporations have only one level of taxation. The shareholders still have to pay taxes on money that they receive from the corporation, but an S corporation does not pay taxes on its net income. While the S corporation is popular among small business owners, C corporations have greater tax planning flexibility.
How does a corporation protect my personal assets?
If a business operates as a corporation, the business owners, called shareholders, are not personally liable for debts or other claims against the corporation. That’s because the corporation is a separate legal entity from its owners. If a corporation complies with the formalities required for it to be treated as a separate legal entity, then anyone seeking to collect a debt from, or enforce a claim against, a corporation, would not be able to collect from the shareholders themselves. They would only be able to pursue the assets held in the name of the corporation.
Why do many people choose to form their corporation in Delaware?
Delaware is a very popular place in which to form corporations. However, the primary benefits apply to larger public corporations or those planning to go public. Delaware’s laws provide heightened protection for board members against lawsuits brought by shareholders, and Delaware has a court exclusively dedicated to resolving corporate disputes. These benefits don’t mean much to smaller corporations. Keep in mind that if a corporation forms in Delaware and does business in another state, the corporation would be required to file additional paperwork, and pay any taxes and/or fees required to do business in that state. Given those factors, many smaller corporations keep it simple and form in the state in which they plan to do business.
What is an EIN?
An employer identification number (EIN), also known as a federal tax identification number, is used to identify a business entity for tax purposes. It’s like a Social Security number, but for a business. In general, most businesses need an EIN. The only reason a business would not get an EIN is if it has only one owner, elects to be treated as a sole proprietor for tax purposes, and does not want to open a separate business bank account. In this case, the owner would use their Social Security number as the business identifier. However, there are disadvantages to this approach, namely the risk of liability.
What is a registered agent?
A registered agent (sometimes called a resident agent or statutory agent) is a person or business authorized to accept important legal documents on behalf of a business. States require businesses to provide the name of their registered agent at the time they form their business entity. While you can be your own registered agent, there are disadvantages. You have to be available during regular business hours and your information goes on the public record. If you miss a filing deadline, you risk being fined or shut down.
Close
Compare S-Corp to C-Corp
| C corp | S corp | |
|---|---|---|
| Taxation | C corp income is taxed twice, once to the business and once to the shareholder. | S corp income is taxed once to the shareholder. |
| Ownership | C corps have no limit on shareholders and also allows you to bring in foreign investors. | For S corps, you can't have more than 100 shareholders and they must be U.S. citizens or permanent residents. |
| Shareholder rights | C corp shareholders get the benefit of preferred stock, should the corporation choose to distribute them. Preferred stock may not come with voting rights, but it can include guaranteed dividends. | An S corp can only issue common stock because common stock shareholders get voting rights. No one has preferred status—all shareholders are treated equally. |
Close
Global Advisers understands that starting off right is the first step in getting donor support.
Running a non-profit organization has many challenges and benefits. You become eligible for state, federal, and certain other income tax exemptions. Once you form your non-profit, you can apply for 501c3 status, which renders contributions to certain types of nonprofits as tax deductible. It allows you to protect your assets. Members and directors are shielded from personal liability for the nonprofit’s actions. We understand what non-profits need in order to achieve their goals and maintain donor support. Our financial planning services and solutions target specific areas that all non-profits require for long-term financial success.
Frequently Asked Questions about Non-Profit Organizations
Who qualifies for 501c3 status?
In order to qualify for tax-exempt status, the organization must operate for charitable, educational, religious or scientific purposes, among others.
What is the difference between a public charity and private foundation?
They’re both 501(c)(3) organizations, but the difference is their source of funding. Public charities generally get their funding from the general public. Private foundations are usually supported by a few individuals, a family or corporation.
Which types of non-profits do not qualify for 501c3 status?
Civic leagues, homeowner’s associations and groups endorsing a political candidate are common types of nonprofits that don’t qualify for 501(c)(3) status.
How do I obtain 501c3 status?
After filing your nonprofit’s articles of incorporation with the state, you’ll need to file an application with the IRS. If it’s approved, your nonprofit will be a qualified 501(c)(3)organization.
Is the formality of incorporation necessary?
Incorporating your nonprofit provides liability protection for the directors and officers of the organization. If your group is concerned about credibility, having an official nonprofit corporate structure can improve your organization’s status in the eyes of potential donors and the public.
Close
- + Limited Liability Company
-
Starting your business was a big deal - something you might only do once in your life. Don't risk getting it wrong now.
Starting a business can literally change your life. Taking the first step is usually the most difficult task. Beginning the process correctly by forming an LLC is vital. It offers you and your family protection by separating your personal and business assets. It also helps to ensure that you are not not personally liable for mistakes your business might make. But, none of these processes take into consideration neither the growth that you envision, or the investment and money management strategies needed to achieve it.
Frequently Asked Questions about LLC's
What is an LLC?
- An LLC stands for a Limited Liability Company.
- The main reason for forming an LLC – whether you are starting a new business or formalizing an existing one – is to separate your personal affairs from your business.
- When done properly, and kept compliant, an LLC means you are not responsible personally for debts or liabilities of your business: invaluable protection.
- An LLC is also very flexible about who can own and manage the business and how you decide to manage its tax affairs.
- An alternative is a Corporation, which is often preferred by companies either seeking external investment, or plan on taking the company public. This comes with greater formalities such as requiring a Board of Directors, issuing stock, and creating bylaws.
- If you decide to create an LLC, it is possible to convert it to a Corporation in the future if your needs change.
How do I form an LLC?
- Forming an LLC is usually an easy process.
- First you need to pick a name for your LLC. You will need to conduct an initial name search to ensure that your proposed business name is available.
- You will then need to file official paperwork with your State. The exact rules vary by State.
- A filing fee is payable to the State as a cost of having an LLC there.
- You will also need an operating agreement (setting out the ‘rules’ of your company), an EIN to open a bank account and pay taxes, and licenses and permits.
- All but a few States require, by law, the appointment of a registered agent.
- There are also ongoing requirements – such as the filing of Annual reports and other Compliance documents.
- The set-up costs of an LLC are usually tax deductible.
Close - + Corporations
-
When you partner with Global Advisers, your questions help us understand your financial goals, and our answers help you to achieve your long term objectives.
Our Corporate Solutions combine enterprise-wide needed support services based on specialized knowledge and best practices. These include ongoing relationships with investment managers, attorneys, CPA and tax specialists, and financial advisers. Corporate services also include finance and banking services for complex issues. Some examples of tailored services include corporate bank accounts, offshore bank accounts, multi-currency accounts, brokerage accounts, private banking, market research, and risk evaluation.Frequently Asked Questions about Corporations
What’s the difference between a C corporation and an S Corporation?
The IRS allows corporations to choose to be taxed as either a “C corporation” or an “S corporation.” Income from C corporations are subject to double taxation; that is, the corporation pays taxes on its net income and then the shareholders also pay taxes on the income that they receive from the corporation.
S corporations have only one level of taxation. The shareholders still have to pay taxes on money that they receive from the corporation, but an S corporation does not pay taxes on its net income. While the S corporation is popular among small business owners, C corporations have greater tax planning flexibility.
How does a corporation protect my personal assets?
If a business operates as a corporation, the business owners, called shareholders, are not personally liable for debts or other claims against the corporation. That’s because the corporation is a separate legal entity from its owners. If a corporation complies with the formalities required for it to be treated as a separate legal entity, then anyone seeking to collect a debt from, or enforce a claim against, a corporation, would not be able to collect from the shareholders themselves. They would only be able to pursue the assets held in the name of the corporation.Why do many people choose to form their corporation in Delaware?
Delaware is a very popular place in which to form corporations. However, the primary benefits apply to larger public corporations or those planning to go public. Delaware’s laws provide heightened protection for board members against lawsuits brought by shareholders, and Delaware has a court exclusively dedicated to resolving corporate disputes. These benefits don’t mean much to smaller corporations. Keep in mind that if a corporation forms in Delaware and does business in another state, the corporation would be required to file additional paperwork, and pay any taxes and/or fees required to do business in that state. Given those factors, many smaller corporations keep it simple and form in the state in which they plan to do business.What is an EIN?
An employer identification number (EIN), also known as a federal tax identification number, is used to identify a business entity for tax purposes. It’s like a Social Security number, but for a business. In general, most businesses need an EIN. The only reason a business would not get an EIN is if it has only one owner, elects to be treated as a sole proprietor for tax purposes, and does not want to open a separate business bank account. In this case, the owner would use their Social Security number as the business identifier. However, there are disadvantages to this approach, namely the risk of liability.What is a registered agent?
A registered agent (sometimes called a resident agent or statutory agent) is a person or business authorized to accept important legal documents on behalf of a business. States require businesses to provide the name of their registered agent at the time they form their business entity. While you can be your own registered agent, there are disadvantages. You have to be available during regular business hours and your information goes on the public record. If you miss a filing deadline, you risk being fined or shut down.CloseCompare S-Corp to C-Corp
C corp S corp Taxation C corp income is taxed twice, once to the business and once to the shareholder. S corp income is taxed once to the shareholder. Ownership C corps have no limit on shareholders and also allows you to bring in foreign investors. For S corps, you can't have more than 100 shareholders and they must be U.S. citizens or permanent residents. Shareholder rights C corp shareholders get the benefit of preferred stock, should the corporation choose to distribute them. Preferred stock may not come with voting rights, but it can include guaranteed dividends. An S corp can only issue common stock because common stock shareholders get voting rights. No one has preferred status—all shareholders are treated equally. Close - + Non-Profit Organizations
-
Global Advisers understands that starting off right is the first step in getting donor support.
Running a non-profit organization has many challenges and benefits. You become eligible for state, federal, and certain other income tax exemptions. Once you form your non-profit, you can apply for 501c3 status, which renders contributions to certain types of nonprofits as tax deductible. It allows you to protect your assets. Members and directors are shielded from personal liability for the nonprofit’s actions. We understand what non-profits need in order to achieve their goals and maintain donor support. Our financial planning services and solutions target specific areas that all non-profits require for long-term financial success.Frequently Asked Questions about Non-Profit Organizations
Who qualifies for 501c3 status?
In order to qualify for tax-exempt status, the organization must operate for charitable, educational, religious or scientific purposes, among others.What is the difference between a public charity and private foundation?
They’re both 501(c)(3) organizations, but the difference is their source of funding. Public charities generally get their funding from the general public. Private foundations are usually supported by a few individuals, a family or corporation.Which types of non-profits do not qualify for 501c3 status?
Civic leagues, homeowner’s associations and groups endorsing a political candidate are common types of nonprofits that don’t qualify for 501(c)(3) status.How do I obtain 501c3 status?
After filing your nonprofit’s articles of incorporation with the state, you’ll need to file an application with the IRS. If it’s approved, your nonprofit will be a qualified 501(c)(3)organization.Is the formality of incorporation necessary?
Incorporating your nonprofit provides liability protection for the directors and officers of the organization. If your group is concerned about credibility, having an official nonprofit corporate structure can improve your organization’s status in the eyes of potential donors and the public.Close
When it comes to your wealth, the answers to your questions could be your most valuable asset.
From the first conversation you have with one of our investment managers, we address risk, goals, and other concerns pertaining to your particular situation. We are clear on the fees we charge, where your money is invested, and how your investments are performing.
When it comes to your wealth, the answers to your questions could be your most valuable asset.
From the first conversation you have with one of our investment managers, we address risk, goals, and other concerns pertaining to your particular situation. We are clear on the fees we charge, where your money is invested, and how your investments are performing.