Deciding which type of business structure – or business formation – is right for your new photography business can be a tough choice and overwhelming. Even if you have been in business for a few years, you still might have questions about the various business types and whether you should make the investment in becoming an LLC or an S Corp.
Stress no more…this podcast discusses the sole proprietor, LLC, and S Corporation so you can take a more educated approach to which one may be right for you and your business. This podcast discusses some of the advantages and disadvantages of each of these business structures.
I am not giving you legal advice and I can’t tell you which type of business formation is the best for you. Only you know the specifics for your business, so you should definitely consult with a lawyer or tax professional to determine which is right for you. But these basics should help get you started…
In this podcast I discuss:
1. What is a sole proprietor or sole proprietorship?
2. What is an S Corporation or S Corp?
3. What is an LLC or Limited Liability Company?
4. The Pros and Cons of each.
5. Income Tax and General Tax Considerations for each Type of Business Formation.
4. Have you considered doing a podcast for your photography business?
Some resources you might find interesting:
- What’s a DBA?
- Legal ZOOM (Create LLC or S-Corp)
- LLC Costs by state for 2012
- LLC’s with S-Corp Status
- Reasonable Salary for S Corp Owners
Thanks for checking out this podcast episode from Nifty Knowledge Rocks!