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The United States has witnessed a significant surge in corporate bankruptcies, reaching a 14-year high in 2024. Businessbankruptcy filings increased by 33.5% In contrast, customer bankruptcies or other defaults typically cause the loss of most, if not all, the AR owed. Do you need help improving cash flow?
Pass-through taxation is the default, but LLC can elect corporate tax status. Owners aren’t personally liable for business debts. Owner is personally responsible for business debts. A sole proprietorship is an unincorporated business with one owner, and it’s the simplest and least expensive type of business to form.
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