Selecting the right business entity is an important decision that could spell the difference between success, failure, personal asset protection and tax obligations. There isn’t one business entity that is ideal for every single business. Your ideal entity depends on several factors, including your industry, location, number of owners and exit strategy.
As a business owner, you should conduct due diligence by impartially considering the benefits and disadvantages of each business entity. Did you know that some entities put your personal bank accounts at risk? Did you know some entities must pay significantly more taxes than others?
Read our summaries and watch the videos below for an overview of each business entity, including their benefits and disadvantages.