BEACON FINANCIAL SOLUTIONS

A corporation is another common business structure. Unlike proprietorships and partnerships, the law considers a corporation an entity that is separate from its owners, who are the shareholders. In fact, corporations file their own tax returns independent of shareholders, and corporate losses cannot be used to offset income on a shareholder's personal tax return... Ownership in a corporation can be easily changed through the purchase and sale of shares of the corporation, without impacting the operations of the corporation's business. In regards to commercial activities, corporations have the same rights as individuals - they can sue, be sued and own and sell property.

Also known as: Beacon Financial Solutions Inc.