What type of entity should you choose for your business?

When it comes to starting a new business, the most important step is deciding about the type of legal entity for the business because your decision will affect the amount of taxes you pay, the personal liability protection you will have and the amount of paperwork you should do to maintain your business structure. The Most common types of business are • Sole Proprietorships • Corporations • S Corporations • Limited Liability Companies (LLCs) • Partnerships Sole Proprietorships: A sole proprietorship is the most common form of business chosen to start a business. It is an unincorporated business structure that is owned and run by one natural person...

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