Feb 21, 2019
In episode 132 of Financially Simple, Justin looks at the Legal aspects of Entity Selection.
When establishing your business, it is important to make sure the business is registered with the appropriate authorities as the proper business type and that all your supporting documents are in order. Justin goes over the processes and pitfalls of setting up a business as a legal entity, with a few examples of some common dos and don’ts.
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ARTICLE TRANSCRIPT: https://financiallysimple.com/basics-that-minimize-risk-your-business/
00:33 - The Risk Management Department: Entity Selection
02:03 - Operating as a Sole Proprietor or a Company
03:52 - Lawyer Up
04:05 - Operating Documents
07:05 - Review Your Operating Agreement
08:05 - All Fees Paid
09:21 - No Co-Mingling!
12:46 - Summary
Justin A. Goodbread, CFP®, CEPA®, CVGA®, owner of FinanciallySimple.com, is a nationally recognized financial planner, financial educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience starting, buying, owning, and selling businesses. Winner of the Investopedia Top 100 Advisor award and Exit Planning Institute’s Exit Planner Leader of the Year.
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Host Justin Goodbread is a Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.