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Business Entity Selection and Formation

Choosing the right business entity is crucial for your new venture, as it influences everything from daily operations and tax obligations to your ability to raise funds and personal liability. Our expertise extends beyond advising on the optimal business structure; we actively facilitate the setup and strategic tax planning for each entity.

Common Business Structures:

  • Sole Proprietorship (DBA): Simplest structure, with minimal paperwork and direct control, but with personal liability for debts.

  • Partnerships (General and Limited): Suitable for multiple owners; involves more complex agreements concerning liability and profit distribution.

  • C Corporation: Offers liability protection, but with potential double taxation on profits and dividends.

  • S Corporation: Combines liability protection with pass-through taxation, suitable for smaller companies that meet specific criteria.

  • Limited Liability Company (LLC): Provides flexibility and protection from personal liability while allowing for pass-through taxation.


Selecting and setting up the right business entity requires careful consideration of its tax implications and how it aligns with your long-term business goals.

How We Can Help:

At Wong & Shao CPAs, we offer a holistic approach to business entity selection. Our services include:

  • Entity Setup: Handling all aspects of business formation including filing incorporation documents, EIN applications, and S-corp elections.

  • Strategic Tax Planning: Providing preliminary tax strategies tailored to each business structure to ensure optimal tax benefits.

  • Regulatory Compliance: Guiding you through the compliance requirements specific to each business structure, preparing you for long-term success.


Our team is committed to ensuring that your business foundation is robust, compliant, and strategically poised for growth. Let us help you navigate the complexities of entity selection and setup, ensuring a smooth start for your business venture.


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