When starting a new business, selecting the proper entity structure is one of the first, and most important, decisions a business owner must make. Converting an existing business to a different entity type could be time consuming, costly, and result in unintended negative tax consequences, so it is best to carefully consider your options up front. In today’s blog, we will explore some of the defining characteristics of common business entity types, including the number of owners the business can have, the degree of personal liability you will have from the business, and how you can fund the business.
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