Evaluating Entity Types
As I’ve explained countless times, there is no reference material in existence, on the web or off, that can substitute for the services of a good professional business advisor, who should analyze the pros and cons of the various business entity types in relation to the exact situation at hand. However, some review of the basics beforehand can save a lot of expensive time with the professional. I always feel bad about charging clients almost four dollars a minute for explaining the basic concepts of corporations and LLCs, that they can read about on their own. Before I meet with clients to discuss what kind of entity or entities makes sense for a particular situation, I strongly encourage them to read over the materials I have posted on my website.
I just came across some new reference materials on the basics of selecting a business entity from the Intuit company, MyCorporation, which can be downloaded for free.
WMV video “Selecting the Right Business Entity” showing how to use a decision tree method of selecting an entity. This is 29.5 minutes long and the file is 21.3 mb in size.
20 page PDF file “Guide to Forming Corporations & LLCs” File size is 1.8 mb.