Apr 19, 2018
When starting a business, it’s a good idea to choose a formal business entity that best suits your type of business and give it legal standing. Justin gives an overview of the different types of entities startups and existing businesses can choose from, listing the pros and cons of each, as well as the documentation required to set them up.
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ARTICLE TRANSCRIPT: https://financiallysimple.com/5-different-business-types-pros-and-cons/
00:30 - The Five Types of Business Structures/Entities
01:43 - A Sole Proprietorship
04:24 - C Corporations
07:26 - S Corporations
10:35 - Partnerships
13:16 - Limited Liability Companies
18:08 - Why choose one entity types over another?
21:29 - The necessary paperwork
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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.