"Where Fillmore County News Comes First"
Online Edition
Tuesday, June 18th, 2013
Volume ∞ Issue ∞
- 7:10:46, Jun 13th 2013 - chipperlee - Seems to be a well written article, except maybe Silica Sand is used in ... [Read More]
- 12:02:15, Jun 9th 2013 - getthefacts - The problem here lies in the fact that girls were repeatedly told "if y ... [Read More]
- 10:45:32, Jun 7th 2013 - Jo mom for 6yrs - Mr. Ehler hit the nail on the head. I agree with the religious con ... [Read More]
- 2:47:58, Jun 7th 2013 - hello - Hello, it's time you wake up. There isn't a community nearby that doesn't offe ... [Read More]
- 9:06:21, Jun 6th 2013 - hello - Hello, it's time you wake up. There isn't a community nearby that doesn't offe ... [Read More]
- 2:05:29, Jun 6th 2013 - Kim Wentworth - The number one rule in a debate: 1) if the person from the opposite si ... [Read More]
- 12:42:18, Jun 4th 2013 - EW - For someone that is always spouting religious rhetoric, you try to come off as a ... [Read More]
- 11:32:18, May 31st 2013 - JO PLAYER - This is unfair to us girls. Morrie Miller is not getting canceled but J ... [Read More]
- 8:25:34, May 29th 2013 - RP - Why is Mr. Ehler involving himself with non-school activities? Is he going after ... [Read More]
- 6:40:49, May 29th 2013 - Doc - You are a cartoon character! If I see you in person I will burst out laughing. ... [Read More]
I want to open a small business in my home. What type of business entity should I be?
Mon, Aug 27th, 2012
Posted in Preston Ask the Expert
Posted in Preston Ask the Expert
Comments
The answer to your question is “it depends.” There are essentially three business structures that might work for you: sole proprietorship, LLC, and corporation. There are benefits and disadvantages to each. A sole proprietorship is easy to maintain and requires no state filing, but it provides you no liability protection. A corportation and LLC provide liability protection but require you to file with the Secretary of State and follow some formalities.
There are a lot of factors that play into which of these business structures is right for you, such as the current number of employees and your long and short-term plans for the company. Tax issues also affect your choice of business entity, as can insurance availability
You should talk to a CPA, an insurance agent, AND an attorney to help you decide what type of business structure is going to work best for you. Once you have had all of these conversations, your choice of entity may be much clearer.
There are a lot of factors that play into which of these business structures is right for you, such as the current number of employees and your long and short-term plans for the company. Tax issues also affect your choice of business entity, as can insurance availability
You should talk to a CPA, an insurance agent, AND an attorney to help you decide what type of business structure is going to work best for you. Once you have had all of these conversations, your choice of entity may be much clearer.