9: How to Choose a Legal Structure for Your Business

How do you choose a legal structure for your business? From sole proprietorships to LLC and S Corp, there are so many options to choose from it can become overwhelming to know which legal structure for your business makes sense at every stage. (And if you’re like Kristen, you may not even remember what you got set up as initially if you’ve been in business for a few months or years!)In this episode we’re answering the question, “What is a business structure?” and breaking down each of the different types including sole proprietorship, partnership, LLC, S Corp, and C Corp so you can understand when each of these would be beneficial for your business, the pros and cons, and who you should talk to to form the right structure for your needs. 03:03 — What is a legal business structure (and do I have one)? 05:15 — Sole Proprietorship09:42 — Partnerships11:22 — LLC 21:23 — S Corp29:48 — C Corp 📚 RESOURCES MENTIONED Corpnet.com Legalzoom.com 📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDEGet the Profit and Loss Guide ❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANTGet the Tax Planning Questions Guide 🛍 75+ TAX WRITE OFFS Get the Tax Write Offs ✅ BOOKKEEPING CHECKLISTGet the Book Keeping Checklist 💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERSApply for Bookkeeping or Financial Analysis Services 👋 CONNECT WITH SYDNEY & KRISTEN Website: https://knowyourworthpgh.com/Instagram: https://www.instagram.com/knowyourworth_pgh/ YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/