If you work as a professional in the accounting, legal, medical, or architectural field, and wish to establish a business, you may what to know more about forming a PLLC.
So, what is a PLLC (and who needs a PLLC?)
The following information will explain how this type of business entity works. A PLLC is short for professional limited liability corporation. This type of entity protects your personal assets and enables you to use pass-through taxation.
By choosing this business formation, you can separate your personal and professional assets and avoid paying taxes on your business. Only your personal income is taxed, thereby making it easier to stay ahead financially.
What Is a PLLC and Its Legal Definition?
Let’s first give a legal definition to a PLLC by answering the question, “What is a PLLC?”
By definition, a PLLC stands for a professional limited liability company. Again, a PLLC offers tax benefits and limited liability for professionals,
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