CONTACT
US

What are the disadvantages of an LLC or a Corporation?

What are the disadvantages of an LLC or a Corporation?

The maintenance and formality of an LLC or S-corp is somewhat inconvenient compared to a sole practitioner in that, once a year, minutes or notes of major company activities should be written. Further, a separate tax return will have to be prepared for the LLC or corporation in addition to the personal tax return, therefore a CPA is usually necessary. However, the peace of mind of asset protection provided by an S-corp or LLC is generally worth the paperwork.