Things to Consider Before you Start Business Operations as a Sole Proprietorship, C Corporation, S Corporation, or LLC - How do you start business on the right track?
Selecting the right type of business entity is an important step in building a successful business. Many of the business owners that I speak with at initial business formation consultations have the following threshold questions:
1. What are the advantages and disadvantages of running my business as a sole-proprietorship?
2. If I want to avoid the risks involved with a sole proprietorship, what are my business entity choices, and which should I choose for my business?
Searching the Internet for answers to these questions is a bit overwhelming. There is a lot of information available, but much of it is confusing, misleading, contradictory, or flat-out inaccurate. This is a complicated area of law, and it is difficult to get clear answers to these questions.
The goal of this article, therefore, is to discuss these questions in as straight-forward a way as possible, and to give California business owners a good idea of the issues they should consider when they start business operations and need to choose from among the following popular kinds of business entities – Sole Proprietorship, California C-Corporation, S-Corporation, and Limited Liability Company (LLC).
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