You want to start a business...so, you have to decide what type of business entity to use, right?
Well, yes and no. Yes in the sense that it is an important decision. But no in the sense that you should first focus on how you're going to build the business...and you should probably just start the business and see if it will work.
But, it is an important decision. And there is a lot of confusion over all these entities.
Today we cover these entities in an introductory capacity:
- Sole Proprietorship
- Partnership
- C Corporation
- S Corporation
- Limited Liability Company (LLC)
- Limited Liability Partnership (LLP)
My intention is not to give you all the details but simply an overview so you will feel more confident soliciting the professional advice that you need for your specific situation.
Joshua
Radical Personal Finance