Episode 3: Sole Prop, LLC, Corporation, or S Corp? What’s The Best for YOUR Business?

entrepreneur entrepreneurship owning it owning it podcast podcast Aug 18, 2020


Let's talk about one of the first legal decisions that a business owner has to make, which is what type of business you should have as an entrepreneur.

Now, this is one of the most common questions that I get asked about. I'm excited to dive into this with all of you guys. I know that when it comes to choosing the legal entity for your business, you've got some different choices. And so in this episode, we're going to be exploring what those choices are, but more importantly, I'm going to give you my tips for which one of these entities probably makes the most sense for you.

Show Notes:

01:32 - How to Protect Your Brand + Gain Authority Training
02:37 - What the three types of business entities are
03:23 - What a Sole Proprietorship means and the two problems with this type of entity
05:26 - Why getting an LLC can help you separate from your business
06:21 - What the two entity options are to move from a sole proprietorship
07:25 - If it is good for Google, it should be good for you
08:01 - What an S-Corp is and how to determine if that is right for you
10:44 - Accountants that I recommend: Amy Northard + Dondrea Owens
10:58 - A recap of what the three legal business entities are
11:49 - The Startup Kit Program