Article last updated August 8, 2023.
LLC, S-corp, C-corp...? When you start a business, choosing your business entity is usually last on your list. But any seasoned entrepreneur will tell you that while it's mundane, it's important to get this set up properly.
Below are three resources to help you choose which structure is right for your business.
We love IncFile's online service because it takes the guess work out of setting up your business structure. Which is why their no-brainer quiz is at the top of our list. Answer a few questions about your business and then IncFile will magically tell you which entity is right for you. Plus, if you're eager to get it set up you can easily do that after taking the quiz.
If you're someone who wants to do a little bit of research before committing, then this article from the SBA gives a great overview of the various business structures. Scroll to the bottom for a concise chart that outlines ownership, liability, and taxes across entities.
Harbor Compliance is an organization that provides compliance solutions to organizations across the United States. Their Incorporation Guide provides a comprehensive overview of the various entities, along with a thorough comparison of the tax treatments for each entity. If you're looking to get smart on business structure, this guide will help you get there.