If you’re thinking about becoming an entrepreneur and opening up your own business, here are some questions to help guide you. What kind of company do I want? An LLC or S-Corp may be a good fit for someone who plans on hiring employees but wants more flexibility than C-Corps provide. A Sole Proprietorship would work well if there’s no intention of employing others because it offers the most flexible structure with few requirements in terms of reporting income from self employment taxes etcetera. Finding the right answer will depend heavily on what type of person/company that is being created!
Although these are very basic explanations, it is best to obtain legal advice from a professional. If this sounds like something you are interested, check out Episode 9 where we have these conversations with Ryan J. Fisher, entrepreneur, attorney, investor, and car enthusiast.
Ryan J. Fisher, APC is a transactional business firm with a focus on legal, consulting, and wealth management services. They strive to create a very personalized relationship with clients in order to build a positive environment for growth and success. Their primary goals are to promote and to protect the best interests of their clients while providing profitability, safety, and security in every transaction.
For more information visit https://ryanjfisherlaw.com/