Sole Proprietor, LLC, S Corp, C Corp - What You Should Be and When

The Business Behind Small Business

#34. In today's episode, Sevana and Tiffany talk about Sole Proprietorship, S-Corp, C-Corp, and what you should be and when.
Famous Example -

Hulk Hogan and Gawker Media

Rihanna and Fenty

Videos -

Explanations on entity formation:

https://youtu.be/uXOHnZy0y4A

https://www.youtube.com/watch?v=H3BcB1r5h74

Books:

LLC vs S Corp vs C Corp Explained (https://www.amazon.com/LLC-vs-S-Corp-C-Corp-Explained/dp/1950967093/ref=sr_1_1?crid=12ZSR3DWZTY9L&keywords=LLC+Vs.+S-Corp+Vs.+C-Corp+Explained&qid=1658193309&sprefix=llc+vs.+s-corp+vs.+c-corp+explained%252Caps%252C63&sr=8-1&_encoding=UTF8&tag=bbsb0e-20&linkCode=ur2&linkId=62737ff95a3ded3c79cbbd5151a9f171&camp=1789&creative=9325)

Advice -

Talk to your CPA and business lawyer to help decide what is the best business entity for you, but don't let that stop you from starting your business! Just don't forget to revisit your entity setup later on.

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About BBSB -

We are two business owners with two very different perspectives on building business, and the business behind that in order to achieve your goals. One of us built to sell, and will continue on the serial entrepreneur path, which means your focus and drive should include very particular tools and tips in order to achieve your goal. The other, is building a generational business, one that can go on long after she’s let go of the wheel. This type of business also requires very specific tools and platforms to achieve this goal. Both women have been successful in their own right, but in honesty - haven’t scratched the surface!

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Website -

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https://www.thebusinessbehindsmallbusiness.com

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Disclaimer -

We are NOT licensed financial experts, nor do we give financial advice. Anything we share with you here on our podcast, whether it be a personal experience or submission, or advice/tips that have worked for us, or that we believe would work for you should not be viewed as either financial, business, or tax advice. We ask for you to do your research, have open and honest conversations with your company’s own support providers and make decisions based upon that. Throughout this broadcast we will share our knowledge and give suggestions and hope you will receive them as part of your overall research to better your own company.