Types of Business Ownership–What’s Right for You?
June 07, 2021
With various business ownership options, you may find yourself asking what’s right for you? Choosing the wrong entity can be costly for your business in terms of taxes, liability exposure, and more. Donald Hoffman, MS, CPA, President of The Prosperity Consulting Group and Managing Partner of The Hoffman Group, discusses what you need to consider before making a decision.
In this podcast you will learn:
- The most common types of business ownerships
- Things you must consider when choosing a business entity
- Pros and cons of an LLC vs. Corporation
- How each type of business entity is taxed
- Consequences of choosing the wrong type of business entity
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This information is intended for educational purposes only. It is not intended to provide any investment advice or provide the basis for any investment decisions. You should consult your financial adviser prior to making any decision based on any specific information contained herein. It is not intended to provide, and should not be relied on for, any tax or legal advice. You should consult your tax or legal adviser prior to making any decision based on any specific information contained herein. The Prosperity Consulting Group is not affiliated with The Hoffman Group.