Event Description

Starting a business is tough! There are lots of decisions to be made and things to think about. You may feel like you have a great idea. You have done your marketing research, developed a prototype, and even looked at locations for your new office. Then it dawns on you…what type of entity do I need to be? Is there really an advantage to choosing one entity type over the other? In this class, we will dig into the differences between entity types – from taxes to liability. We will even say some things about which entity types are harder to get set up!

Objectives

– Identify differences in how business entity types are taxed for income tax purposes. – Recognize how personal financial planning for a business owner is related to financial planning for a flow-through entity business. – Identify how S-Corporations are taxed for self-employment tax purposes. – Recognize double-taxation and when it applies.