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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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 Type Over Another?
21:29 - The Necessary Paperwork
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.
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