A limited liability company (LLC) is business entity authorized by a state. Neither a partnership nor a corporation, an LLC provides sole proprietors and business partners many of the rights afforded ...
Another distinction lies in flexibility. LLCs allow owners to reinvest profits or distribute income in a variety of ways, while S-Corps must distribute earnings based strictly on ownership percentage.
In addition to leading Fuentes & Angel CPAs LLC in Jericho, Lynne Fuentes has a new title: president-elect of the 24,000-member New York State Society of CPAs. She talked with the Long Island Press ...
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