You’re starting a new venture and it’s time to finally create your business as a formal legal entity, but what kind of entity do you choose: a corporation, an LLC, something else? Business counselors Katie Rinkus and Kristen Prinz decode the major differences among sole proprietorships, partnerships, corporations, and LLCs, providing insight into the benefits and drawbacks of each.
Katie and Kristen touch upon how to reduce personal liability, various tax classifications, and the differences among such roles as managers, shareholders, and officers. More than anything, they stress long-term thinking and the benefits of seeking out trusted expertise from a knowledgeable attorney.
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