wealthofgeeks.com

Choosing a business structure that is efficient, practical, and suited to a company’s best interests is fundamental to its success.

[{"selector":"#anim-59a7affe-81e9-495e-9bc8-1829f75aae1d","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f97bc5e7-0601-4eb9-993d-8ef78617a365","keyframes":{"transform":["translate3d(0px, -147.97183%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0ffe7341-8939-408f-a4ee-ee213a6a7d29","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cfeff848-a1c9-4c7d-ae1d-4f06b68ec800","keyframes":{"transform":["translate3d(0px, -171.78132%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0218a935-ff0e-4ade-ae80-939119a3b22c","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ecd590d-ff6a-46d7-ae1c-44f67b53b31b","keyframes":{"transform":["translate3d(0px, -190.82897%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

When a business undertakes commercial activities – such as capital raising, marketing, and tax payments – its structure becomes integral to both immediate and long-term success.

[{"selector":"#anim-7a4f57ec-3c3e-4db3-bf00-2fca00f3993a","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-70a874fe-25e1-4bed-ad70-b2ba54d67269","keyframes":{"transform":["translate3d(0px, -190.82897%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e93f3ef6-eb2f-4945-be2e-42938382ee41","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4c9d4ff7-5d9e-4c57-b893-fb8b0af27b17","keyframes":{"transform":["translate3d(0px, -171.78132%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c351aadd-a7d4-4629-8dd9-afa5527923fb","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-903e2bb8-7ce5-456c-b3e0-124ec4ecab49","keyframes":{"transform":["translate3d(0px, -147.97183%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

Knowing which options are on offer and the pros and cons of each is important when making the right choice. In the US, there are several key legal entities a business owner can be capable of forming.

[{"selector":"#anim-1e3a0a86-240b-4a0f-965c-7df6cc4fcf01","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-28c9575b-da0a-4ad8-a3e4-d3402c0bd4d5","keyframes":{"transform":["translate3d(0px, -147.97183%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ed82520-ffde-4fe3-bdb0-9e0c33d10a2a","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5aecd401-4715-4d91-8a49-f4b0b0a437f7","keyframes":{"transform":["translate3d(0px, -171.78132%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e5b3db1e-800b-45ac-b9d6-1c4cdd930fdc","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e7a0c03c-12f1-44f3-a8d6-674c8b096073","keyframes":{"transform":["translate3d(0px, -190.82897%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

Sole Proprietorship

Perhaps the most distinctive aspect of being a Sole Proprietor is that the business and the owner are not separate legal entities. This can result in the registered owner being held personally liable for the enterprise’s assets and liabilities.

[{"selector":"#anim-381689fb-3617-45d0-8691-86d0cfb07a8e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af7173e5-c23d-4c18-8a2a-df45d790474d","keyframes":{"transform":["translate3d(0px, -147.97183%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-85df4ab1-ca90-4eb5-b106-91649a88032d","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9971e641-fbc9-4674-8d85-100bc75a6416","keyframes":{"transform":["translate3d(0px, -171.78132%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-40498cab-6e8b-448e-92c6-4cb4f0cb770b","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7f60ed3f-9a12-4f08-9743-965cab7521f9","keyframes":{"transform":["translate3d(0px, -190.82897%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

Partnership

As the name suggests, a Limited Liability Company (LLC) describes a business structure that limits the legal liability of the relevant person, equivalent to the sum of their investment or stake in the company.

[{"selector":"#anim-4fd83384-24b1-41c5-92ff-74b9827bfa01","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-619f2703-b36a-4feb-9a02-58b9c7f3d7ec","keyframes":{"transform":["translate3d(0px, -147.97183%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8a0c54f7-b1d0-4e2b-a01e-68f4d160c918","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9838076-4724-4cfb-93fa-f9a69964e7e0","keyframes":{"transform":["translate3d(0px, -171.78132%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a4ac5b33-9020-41c8-b1e7-13899e0f4baf","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-133d5eb1-34db-4b23-a6d7-25f2b37d6d38","keyframes":{"transform":["translate3d(0px, -190.82897%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

A Corporation is an entity distinct from its owners, taking on a new legal persona. The new legal identity can enter into contracts, be sued, initiate litigation, own assets, and pay taxes. Corporations possess many of the same rights and responsibilities as individuals.

[{"selector":"#anim-b0cf19bf-bf10-47d4-a7bf-23769f85c19e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-68141cfe-b9a5-4430-8abe-b209fb4de002","keyframes":{"transform":["translate3d(0px, -147.97183%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f9f7e39b-17f0-46d9-94f2-4774ec1bb3ab","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd4953b3-1fb3-4eb9-9ced-104c8dcece50","keyframes":{"transform":["translate3d(0px, -171.78132%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2a70ab9b-49b9-4598-bc23-03788ea38f7b","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4dd39b44-f230-4be3-b076-12d3a773b34d","keyframes":{"transform":["translate3d(0px, -190.82897%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

Swipe up to learn more!

Discover more from wealthofgeeks.com

No One Knows the Actual Lyrics to These Songs 7 Tips to Help You Find Cheap Prescription Glasses

wealthofgeeks.com

How To Choose The Right Business Structure