Harder than it looks – Changing business structures calls for careful planning

Description

Abstract: Contractors who are starting new businesses must be careful when choosing the form of ownership, or business structure, for those businesses. This article explains the types of business structure available, how each one operates, and some pitfalls that are inherent with the various structures. A sidebar discusses five things you must consider when choosing a business structure, such as the amount of liability you’re willing to assume and state regulations. (Updated 5/29/12)