One of the first things you have to do when starting your business is choose its business entity, sometimes referred to as its “legal structure.” Your business entity makes a difference in the way you file and pay your taxes, and it also makes a difference when you apply for a loan—to say nothing of when legal issues, like copyright violations or bankruptcy, might crop up. It’s important to choose the best one for your business, but luckily, it’s not as complicated as it might seem.
Infographic by: www.fundera.com
Infographic by: www.fundera.com