Jan 25, 2018
In episode 11 of Financially Simple, Justin talks about the different types of business entities and why they matter.
In Business, the type of business structure you own matters, whether it be a corporation or Sole Proprietorship. Knowing which type of entity fits your business will help with the management and legal aspects of the business, especially when it comes to selling. Justin considers the different types of entities, the pros and cons, and how to go about formalizing your business as an entity.
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00:34 - What type of Entity should I choose?
00:57 - When planning to sell, being the right Entity matters
04:06 - The 4 basic types of Entities
05:04 - Advantages & Disadvantages of each type
06:40 - Transference of Stock
07:30 - Flexibility
08:50 - Tax Benefits
09:25 - Documentation
13:20 - Have an awesome Team
14:55 - Summary
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pick up a copy of Justin's new book: The Ultimate
Financially Simple – https://financiallysimple.com
Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.