Business Incorporation Services

The Questions

  • How do you incorporate a business?
  • What is the right corporate structure for your situation?
  • Should you restructure your business entity?
  • How does incorporation help you to protect your income and assets?
  • What is the benefit of multiple corporations?

No longer can you count just on your employment to ensure financial security. Many of our clients, like you, are looking into starting new businesses either part time or with a full time effort. While there is still plenty of opportunity to successfully start an additional income stream, it is equally important to structure your new business the right way.

Properly structuring your business can help you save on taxes, secure retirement investments and protect you, your family and your assets from frivolous law suits and potentially help you regain your futures financial security.

The Answer

Since 1991, we have helped thousands of people with business incorporation in Illinois and elsewhere.  We have used nearly every structure and entity type to securely and legally save thousands of dollars.

Here are some distinctions between Entity types you should consider:

Sole Proprietorships
  • Easy to form and operate
  • Owner reports the business profit or loss on personal tax return
  • No state filing required to form a sole proprietorship
  • Owner does remain liable for lawsuits filed against the business
S Corporations
  • Sets up independent legal and tax structures separate from owners
  • Required to hold annual meetings and record minutes
  • The profit or loss is the Corp is reported on personal tax returns
  • Personal assets are separated from the business debts
  • Must be US citizen or Resident, limited amount of Shareholders
C Corporations
  • Sets up independent legal and tax structures separate from owners
  • Required to hold annual meetings and record minutes
  • Taxed on Corporate Profit and Shareholder dividends
  • Personal assets are separated from the business debts
  • No limit to amount of Shareholders
Limited Liability Corporations
  • Sets up independent legal and tax structures separate from owners
  • Not Required to hold annual meetings and record minutes
  • Taxed like a sole proprietorship (if one owner) or a partnership (if more than one owner)
  • Personal assets are separated from the business debts
  • No limit to amount of owners
Partnerships
  • The partners can be liable for lawsuits filed against the business
  • Usually no state filing is required
  • It’s easy to form and operate
  • Owners share of profit and loss is reported on personal tax returns

Please call us at 773-728-1500
We’re here to help you make sure you keep every dollar you deserve.