How to Structure Your Business
Deciding the business structure choice, also known as business entity choice, that best fits your business can be overwhelming. This course will guide you through the benefits business structures can provide and which structures can provide the benefits you need. You must find the right balance of the following benefits that different structures provide: • Personal asset protection • Tax savings • Number and type of owners you can have • Minimal complexity Each structure allows some benefits but not others. This course will guide to clarify the benefits that are most important to your business’s success. Once you know the most important benefits, you’re ready to learn the basics of popular business structures and business entity choices. You’ll learn the pros and cons of each of these business structures in simple language. This class applies to companies in the United States. We’ll look at the following structures: • Sole Proprietorships • Partnerships • Limited Liability Companies (LLCs) • Corporations (C-Corporations, S-Corporations, B-Corporations) This course has three activities that will help you identify and prioritize the benefits you want from your business structure. You'll complete an activity in which you mark the pros you would like from each structure and the cons you most want to avoid. This activity page also serves as a helpful summary of the pros and cons of each structure. Not understanding business structure benefits and choices can mean overwhelming and time-consuming meetings with tax and legal professionals. You’ll be well-prepared from this course to work with your tax or legal advisor to quickly choose and form the best business entity for you.