Choice of Entity

1.1  Sole Proprietorship
Overview: Operating as a sole proprietorship does not involve forming a new or separate entity. Rather, the sole proprietorship is ...
1.2  C- Corporation
Overview: A corporation is an entity recognized by state statute as separate and apart from its owners. A corporation is ...
1.3  S- Corporation
The S-Corp is a pass essentially a pass through entity, which means the indivual shareholders take the income of the ...
1.4  Partnerships
General Partnerships: A general partnership is defined as an association of two or more individuals who carry on as co-owners ...
1.5  Limited Liability Companies
The LLC provides limited liability protection for members. Like the shareholders of the corporation, members can limit thier liability  to ...

Consideration in entity selection:

Individual use entities to conduct business in order to limit liability and to centralize management. Entities are used in estate planning to allow for gifts of ownership interests at a discount without dividing the underlying assets. Asset protection planning merges these concepts into a single unitary principle. It is important to understand the basic differences between the various forms of entities facing the individual owner or manager.