Structuring Your Small Business – A Crash Course
Topic: Business Management,Growing Your Business,How-to,Managing Your Business,Small Business Tech Recs,Starting Your Business | Comments Off on Structuring Your Small Business – A Crash Course
When considering entrepreneurship, it’s important to consider how your business will take shape. Recently, LLCs have gained popularity, as the structure allows for less personal responsibility and more protection. While an LLC provides a great deal of flexibility, its disadvantages include careful records-keeping, significant paperwork, and cost of implementation. And for all you West-Coasters, it should also be noted that the state of California levies a franchise tax on all LLCs and does not allow LLCs to offer licensed professional services – this includes architects, landscape architects, chiropractors, lawyers, accountants, etc. If you’re currently weighing your options or just looking to restructure, LegalZoom does a good job of outlining the advantages and disadvantages of an LLC compared to a sole-proprietorship.
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