Neeraj Shah, Esq., MBA, CPA - call 585.388.8388, www.penfieldtax.com

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Q. What can Shah CPA Firm, PLLC do for me with respect to forming a business?
A. 
The owner of Shah CPA Firm, PLLC, Neeraj L. Shah, has not only earned the C.P.A. designation, but is also admitted as an Attorney. To deliver the best product, it is essential to fully understand all of the moving parts. Neeraj offers clients a depth of knowledge, skill and business acumen that very few practitioners can match.

With respect to forming a business, Shah CPA Firm, PLLC will assist you with every step including drafting and filing the appropriate documents, obtaining certified copies of the filing, producing necessary documents such as stock certificates or member certificates, obtaining a federal tax identification number, and offer you advice with respect to your chosen entity.

Once formed, Shah CPA Firm, PLLC offers a range of services to support your business, including: tax preparation, accounting services, and business succession planning.

​Q. … Sole Proprietorship?
A.
 A Sole Proprietorship is a business owned and managed by one person. This person is personally liable for all business debts and obligations.

Q. … Partnership?
A.
 A Partnership is a business owned by 2 or more people. Some of the more common types of partnerships include the General Partnership, Limited Partnership, Limited Liability Partnership, and the Limited Liability Limited Partnership. One of the benefits of partnerships is “pass-through” taxation. There are unique legalities with respect to each of the above-mentioned partnership types. Choosing the right kind of partnership is critical to ensure proper structure of ownership and exposure to liability.

Q. … Corporation?
A.
 A Corporation is a legal entity that has shareholder ownership. There are many benefits of the corporation. Some of the main advantages include: limited liability for shareholders, the transferability of ownership, and perpetual existence. One of the main disadvantages of the corporation is the potential for “double-taxation.” The C-corporation is the default corporation type. Those corporations that meet certain standards can elect to avoid “double-taxation,” and create an S-corporation.  There are unique legalities with respect to each of the above-mentioned corporations types. Choosing the right kind of corporation and following proper formalities is critical to ensure the protection that a corporation offers.

Q. … Limited Liability Company?
A.
 A Limited Liability Company (LLC) is a legal entity that has member ownership. Members are afforded limited liability and have benefit from pass-through taxation similar to partnerships. There are pros and cons of forming an LLC with respect to the other business entities mentioned above. Choosing the right kind of entity and following proper formalities is critical to ensure the protection that you desire.

- ensure proper ownership

FAQs - business formation; a practice area of Shah CPA Firm, PLLC

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Shah Law Firm, PLLC - "a LAW firm with a focus in estate planning, tax law, and business"

​April 15th Countdown!

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DISCLAIMER: Attorney Advertising. This website is advertising material. The choice of a lawyer is an important decision and should not be based solely upon advertisements. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. You are invited to contact the office by phone, letters or electronic mail. Contacting the office does not create an attorney-client relationship. Please do not send any confidential information to the office until an attorney-client relationship has been established in writing. Top 5 neighborhoods that we serve for tax preparation in Rochester, NY are: Penfield, Webster, Pittsford, Fairport and the city of Rochester. Also serve for tax preparation in: Irondequoit, Henrietta, Macedon, Walworth, and Mendon.

KEYWORDS: Neeraj Shah, Neeraj L. Shah, Neeraj, CPA, C.P.A., MBA, M.B.A., J.D., Esq., attorney, tax, law, estate planning, financial, legal, Rochester, Penfield, Fairport, Webster, Pittsford, tax preparation, tax prep, rochester tax preparation, penfield tax preparation, fairport tax preparation, webster tax preparation, pittsford tax preparation, perinton tax preparation, macedon tax preparation, walworth tax preparation, mendon tax preparation, canandaigua tax preparation, east rochester tax preparation, greece tax preparation, henrietta tax preparation, irondequoit tax preparation, rochester tax prep, penfield tax, rochester tax, 14526, 14625, 14580, 14534, 14450

- Limited Liability Company

why is it important?

- Partnerships

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Neeraj L. Shah, Esq., MBA, CPA
(585) 388-8388

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Q. What type of business entity is right for me?
A. There are several types of business entities available. Some of the more popular entities include Sole Proprietorship, Partnership, C-corporation, S-corporation, and Limited Liability Company. Choosing the right entity is the first step in ensuring proper structural ownership of your business and understanding its liability protection, if any.

- liability protection, if any

forming a business?

- Corporations

what are the options?

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​​​​​​​Attorney Advertising Material * CPA Advertising Material * With the designations of being an attorney and a CPA, we are proudly one of the most qualified tax preparation firms in Rochester, NY. Don't opt for an inferior product; call 585-388-8388! Webster tax preparation? We've got it. Fairport tax preparation? We've got that too. Yes, Pittsford tax preparation and of course, Penfield tax preparation. Top 5 neighborhoods that we serve for tax preparation in Rochester, NY are: Penfield, Webster, Pittsford, Fairport and the city of Rochester.  Brilliant tax preparation in 14526 and 14625.

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