Learn about choosing and setting up a legal entity for your small business
When you start a business, you must decide on a legal structure for it. Forming a business entity is an important way to protect yourself from liability and save money on taxes. Usually you'll choose either a sole proprietorship, a partnership, a limited liability company (LLC), or a corporation. There's no right or wrong choice that fits everyone. Your job is to understand how each legal structure works and then pick the one that best meets your needs.
In this course, we'll go over the basics of incorporation and help you understand the right legal entity for your small business
We'll help you understand the difference between a corporation and an LLC. We'll also talk about a sole proprietorship and if it is right for your situation, and providing advice on choosing and forming a corporate entity.
We'll talk about the forms that need to be filed and go over the formalities and documents related to incorporation. We'll also get into how to establish bylaws, set up a tax ID for the IRS, and navigate state and local laws, in order to get your business off to the right start.
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