Carey Accounting specializes in assisting businesses to determine and establish the type of organizational entity which best fits their goals.
Both startups and existing businesses considering a change in business structure, must decide between the Limited Liability Company (LLC) and the C or S Corporation as the appropriate entity for their business.
While all of these options provide limited liability protection, they also have distinct differences in terms of taxation and ongoing regulatory requirements. Carey Accounting can assist you in evaluating these options and making the right decision for your company.
We also take care of the time-consuming formalities of filing official documents with the state government. The first step is to determine whether there is any potential conflict regarding the availability of the business name you have selected.
We complete all of the business formation documents, file them with the state and track your submission until the process is successfully completed. Once the state approves your LLC or incorporation, we provide you with the official documents for your new business.
Regulatory Compliance
Both LLCs and corporations cope with ongoing compliance requirements. However, business owners often neglect these procedures. Failing to satisfy these regulatory standards is a serious mistake.
The primary objective of forming either an LLC or a Corporation is to gain limited liability protection. By neglecting regulatory requirements, a company can lose its LLC or corporate entity status, obviating the owners’ limited liability protection.
Internal requirements are most commonly overlooked. Both LLCs and corporations are required to document internal compliance and maintain appropriate records. There are also external requirements, which often require quarterly and annual filings and payment of fees.
If an LLC or a Corporation is sued and is unable to demonstrate that it has met all state requirements, a judge may rule that the “corporate veil” has been pierced and the assets of the individual owner’s are accessible to a judgment.
Carey Accounting clearly identifies all of the procedures, which must be documented by clients and puts systems in place to ensure that the company’s limited liability status remains in full force.
“Kelly Carey got my business incorporated in one day. She personally walked my incorporation papers through the Maryland State Department, got them approved, and delivered them to my office the same day. The level of service she provides is unbelievable. I highly recommend her.”
-Robert Nunn, President-O'Geary, Inc.
