What Legal Structure Should I Choose for My Business?
Choosing the right legal structure is crucial for any entrepreneur as it affects everything from liability and taxes to the ability to raise capital. Common options include sole proprietorship, partnership, limited liability company (LLC), and corporations (both S and C). Each type has its own advantages and disadvantages. For instance, an LLC offers limited liability protection and pass-through taxation, making it a popular choice for small businesses. On the other hand, corporations are often preferred by those looking to attract venture capital.