John J Wallace

Attorney & Counselor at Law, PC

Incorporations

We will guide you through the set up of your business including the required state and federal documentation.

We prepare:

  • Entity formation documents for LLC’s, incorporations, and partnerships 
  • By-laws and related documents 
  • Applications for Federal ID numbers 
  • S-Corporation elections 


Frequently Asked Questions:

Q: Should I open an LLC or an S-Corporation?
A: These are 2 separate issues:
    1) The choice of legal entity, Limited Liability Company or Corporation is a legal question.
        Typically clients prefer LLC for because of the ease of administration.
    2) Whether or not to operate as an S-Corporation is a tax question. Doing so may reduce payroll taxes.
        An LLC may elect to have its tax status be an S-Corporation, a regular C Corporation, possibly to
        be a partnership, or even simply to be reported directly on an individual’s tax return.