When you form a business, you have a lot of decisions to make regarding its structure. Do you need to worry about liability? What about taxes? Deciding how you want to structure your business legally is one of the first and primary business decisions you will have to make. Depending on which type of business structure you choose, there are different levels of protection safeguarding your personal assets and shielding you from personal liability. There are also significant tax implications for each type of business structure. Join us in discussing your options as a business owner.
2:07 Legal options for entities
5:06 Tax issues of sole proprietorship
9:45 Legal protection of proper business entity
11:16 LLC or corporation for legal protection
15:20 Legal and tax importance of operating agreement
20:54 Importance of setting up the an entity at the beginning
29:08 Tax significance of business entities: S-Corp, Partnership
36:28 Tax significance of C-Corp
41:16 C-Corp legal formalities
45:43 Corporate Playbooks