How to Choose the Right Entity
LLC vs. S-corp vs. C-corp
This course discusses in detail the differences between LLC's, s-corporations, and c-corporations. So many entrepreneurs, when starting businesses, do not have a clear understanding of the differences between the different types of entities that are available and why one of those entities are better or worse than another. This course dives into the nuances that are associated with each type of entity. In the course we discuss:
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This course discusses in detail the differences between LLC's, s-corporations, and c-corporations. So many entrepreneurs, when starting businesses, do not have a clear understanding of the differences between the different types of entities that are available and why one of those entities are better or worse than another. This course dives into the nuances that are associated with each type of entity. In the course we discuss:
This course discusses in detail the differences between LLC's, s-corporations, and c-corporations. So many entrepreneurs, when starting businesses, do not have a clear understanding of the differences between the different types of entities that are available and why one of those entities are better or worse than another. This course dives into the nuances that are associated with each type of entity. In the course we discuss:
- Why you need a legal entity for your business
- The differences between LLC's, s-corporations, and c-corporations
- The tax advantages associated with LLC's, s-corporations, and c-corporations
- Situations in which you should choose one entity over another
This course covers a relatively complex topic, but explains that topic and associated concepts in a simple and easy-to-understand manner. Best of all, you should be able to complete the course in less than an hour.
What's inside
Learning objectives
- Know the difference between a corporation and an llc, including the specific differences between c-corporations, s-corporations, and llc's
- Understand the benefits of operating a business under a legal entity
- Understand the situations in which a particular type of entity is best and when they should form a c-corporation vs. an s-corporation vs. an llc
- Grasp the tax consequences associated with c-corporations, s-corporations, and llc's
- Know the difference between a corporation and an llc, including the specific differences between c-corporations, s-corporations, and llc's
- Understand the benefits of operating a business under a legal entity
- Understand the situations in which a particular type of entity is best and when they should form a c-corporation vs. an s-corporation vs. an llc
- Grasp the tax consequences associated with c-corporations, s-corporations, and llc's
Syllabus
Students will get an introduction to their instructor and an overview of the course content
This lecture includes an introduction to the instructor and an overview of the content that will be covered in the course.
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Syllabus
This lecture includes an introduction to the instructor and an overview of the content that will be covered in the course.
In this lecture we talk in detail through the reasons why you should form a legal entity if you are considering starting a business. We talk through the main benefits that are associated with operating a business under the umbrella of a legal entity.
In this lecture, I provide a visual illustration and example of the main benefit of operating your business under a legal entity in order to better explain that benefit.
This quiz will test your understanding of the benefits of operating your business under a legal entity.
In this lecture we discuss the corporation entity in detail, going into the legal and management structure of corporations in detail.
In this lecture we discuss the LLC entity in detail, going into the legal and management structure of LLC's in detail and the differences / similarities between LLC's and corporations.
In this lecture, we dive into some basic tax concepts that you need to understand in order to grasp the differences between c-corporations, s-corporations, and LLC's.
In this module, we discuss how c-corporations are taxed.
In this module, we discuss how LLC's are taxed.
In this module, we discuss how s-corporations are taxed.
This quiz will test your understanding of the tax consequences of each entity type.
In this lecture we'll discuss the scenarios in which one entity is better than another and situations in which you should consider one entity option over another.
In this lecture we will summarize all the content that we covered in the course for your review.
Good to know
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Activities
Review the Difference Between LLC and Corporation
Show steps
This activity will help you better understand the different types of business entities and their advantages and disadvantages.
Show steps
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Identify the different types of business entities.
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Compare and contrast the features of each type of entity.
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Consider the pros and cons of each type of entity.
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Decide which type of entity is right for your business.
Create a Business Entity Comparison Chart
Show steps
This activity will help you visualize the key differences between LLCs and corporations and make an informed decision about which type of entity is right for you.
Show steps
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List the different types of business entities.
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Compare and contrast the features of each type of entity.
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Create a chart that summarizes your findings.
Write a Blog Post About the Different Types of Business Entities
Show steps
This activity will help you to solidify your understanding of the different types of business entities and share your knowledge with others.
Show steps
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Choose a topic for your blog post.
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Research the different types of business entities.
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Write a blog post that explains the advantages and disadvantages of each type of entity.
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Publish your blog post.
Three other activities
Expand to see all activities and additional details
Show all six activities
Read the Book Corporate Finance
Show steps
This book will provide you with a comprehensive understanding of the financial aspects of business entities, including LLCs and corporations.
View
Wall Street Journal Edition, Standard Edition
on Amazon
Show steps
-
Read the book Corporate Finance.
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Take notes on the key concepts.
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Apply the concepts to your own business.
Volunteer at a Local Business
Show steps
This activity will give you hands-on experience with the different aspects of running a business.
Browse courses on
Hands-on Experience
Show steps
-
Find a local business to volunteer at.
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Contact the business and ask about volunteer opportunities.
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Volunteer your time and effort.
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Learn about the different aspects of running a business.
Start a Business
Show steps
This activity will give you the opportunity to put your knowledge about business entities into practice.
Browse courses on
Business Planning
Show steps
-
Come up with a business idea.
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Develop a business plan.
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Choose a business entity.
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Start your business.
Review the Difference Between LLC and Corporation
Show steps
This activity will help you better understand the different types of business entities and their advantages and disadvantages.
Show steps
- Identify the different types of business entities.
- Compare and contrast the features of each type of entity.
- Consider the pros and cons of each type of entity.
- Decide which type of entity is right for your business.
Create a Business Entity Comparison Chart
Show steps
This activity will help you visualize the key differences between LLCs and corporations and make an informed decision about which type of entity is right for you.
Show steps
- List the different types of business entities.
- Compare and contrast the features of each type of entity.
- Create a chart that summarizes your findings.
Write a Blog Post About the Different Types of Business Entities
Show steps
This activity will help you to solidify your understanding of the different types of business entities and share your knowledge with others.
Show steps
- Choose a topic for your blog post.
- Research the different types of business entities.
- Write a blog post that explains the advantages and disadvantages of each type of entity.
- Publish your blog post.
Read the Book Corporate Finance
Show steps
This book will provide you with a comprehensive understanding of the financial aspects of business entities, including LLCs and corporations.
View
Wall Street Journal Edition, Standard Edition
on Amazon
Show steps
- Read the book Corporate Finance.
- Take notes on the key concepts.
- Apply the concepts to your own business.
Volunteer at a Local Business
Show steps
This activity will give you hands-on experience with the different aspects of running a business.
Browse courses on
Hands-on Experience
Show steps
- Find a local business to volunteer at.
- Contact the business and ask about volunteer opportunities.
- Volunteer your time and effort.
- Learn about the different aspects of running a business.
Start a Business
Show steps
This activity will give you the opportunity to put your knowledge about business entities into practice.
Browse courses on
Business Planning
Show steps
- Come up with a business idea.
- Develop a business plan.
- Choose a business entity.
- Start your business.
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