Finance Business LLC Formation Guides

Forming a business entity for a finance practice is one of the first steps a financial professional takes when going independent – and the right structure depends on the specialty and the state. Whether someone is launching a bookkeeping practice, a tax preparation service, a financial planning firm, or a payroll company, an LLC or the appropriate professional entity creates legal separation between personal finances and the business obligations that come with client engagements. Many state licensing boards for CPAs, financial advisors, and tax professionals also have specific requirements about the type of business entity that can be formed, making it essential to understand those rules before filing. The guides below walk through business formation for the most common finance business types.