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:

  • tick The flexibility of changing your business entity (e.g., from LLC to Corporation)
  • tick Distinction between C Corporation and S Corporation from a tax perspective
  • tick The differences between a manager-managed and a member-managed LLC
  • tickInsight on Limited Partnerships and the roles of limited and general partners
  • tickYour business entity choice affects many aspects, from taxation to your level of involvement.
  • tickMake sure you're well-informed before making this pivotal decision.
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