Discover the nuances of entity selection for your business in this informative video. We delve into the specifics of Limited Liability Companies (LLCs), Corporations, and Limited Partnerships, discussing their characteristics, potential benefits, and constraints. Whether you're setting up a business that will generate passive income or one that requires day-to-day involvement, understanding these entity types will help guide your decision.
Key highlights include:
The flexibility of
changing your business entity (e.g., from LLC to Corporation)- Distinction between C
Corporation and S Corporation from a tax perspective
- The differences
between a manager-managed and a member-managed LLC
- Insight on Limited
Partnerships and the roles of limited and general partners
- Your business entity
choice affects many aspects, from taxation to your level of involvement.
- Make sure you're
well-informed before making this pivotal decision.
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insights.