What Is the Best Way to Choose the Correct Business Structure?
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The best way to choose a business structure is, first of all, to identify what it is you want to accomplish. That’s going to help your attorney, your accountant, the professionals at a resource like LegalZoom to help you choose the best structure.
There are subtle differences in terms of liability protection and tax advantages between the different vehicles. Just for example, an LLC is like a corporation and that it offers you the benefit of limited liability. On the other hand, there are fewer corporate formalities and the documents have slightly different names and they’re set up a little bit differently.
So you want to get good advice consistent with what your business goals are.
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