Ensuring your business structure is the right one

Description

Abstract: Selecting the right business structure — either C corporation, S corporation, limited liability company (LLC), partnership or sole proprietorship — for your business is a complex decision that requires you to consider a number of interrelated tax, liability and administrative factors. There’s no one right answer because it depends entirely on your circumstances, which may change over time. That’s why it’s essential to periodically review your business structure. This article focuses on some of the factors that will affect whether you keep your current structure or, if needed, elect a new one.