What is legal structure is best for my business - Sole Proprietorship, General Partnership, S-Corporation, Single Member LLC?”

Deciding what legal structure you should choose for your business is an important one. This can be a very confusing questing because so much is involved. It is impossible to cover every nuance of tax and business law that may apply to your business. This is especially so if you anticipate your business having several owners. Therefore, no discussion can replace or eliminate the need to consult an attorney and/or accountant regarding tax and legal issues.

However, when either starting or running your own business you cannot learn enough. The more you learn the more informed you are and able to use and act on the professional advise you receive. The purpose of this digest is to do just that - inform. Your task is to understand how each business structure works and then pick the one that best meets your needs.

The document below is a digesting of the details.