How to Choose the Right Entity: LLC vs. S-corp vs. C-corp from Udemy

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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.

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.

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Read about what's good

what should give you pause

and possible dealbreakers

Explores legal entities for businesses, which is standard in business management and law

Taught by Scott Brookens, who is recognized for their legal expertise

Examines legal entity options, which are highly relevant to business owners and entrepreneurs

Develops foundational understanding of business law and corporations

Provides practical guidance on choosing the appropriate entity for a business

Course completion time is estimated to be less than an hour, making it accessible and convenient

Reviews summary

Clear & concise business entity guide

According to students, this course offers a highly effective overview for understanding business entities, particularly for new entrepreneurs. It simplifies complex legal and tax concepts into an easy-to-digest format. Many appreciate its conciseness, allowing completion under an hour. Key strengths include its focus on tax implications and practical guidance on choosing the right entity for specific situations. While some learners suggest a need for more advanced details or real-world application depth, it's widely lauded as providing a strong foundational understanding.

Serves as a great foundation but lacks advanced depth.

"Good high-level introduction... I was hoping for a bit more depth on specific state regulations."

"Decent, but very basic. If you know absolutely nothing, it's a good start. However, it felt a bit too quick."

"Too superficial. While the explanations were clear, I left feeling like I needed another course to truly understand."

"I appreciate the foundational knowledge, but I hoped for a deeper dive into more complex scenarios."

Clarifies complex tax consequences of different entities.

"The tax implications section was particularly helpful."

"This course finally clarified everything for me, especially the tax side."

"My only minor critique is that some of the tax examples could be expanded slightly, but overall, very strong for a beginner."

Offers actionable insights for business entity selection.

"Exactly what I needed! I'm planning to launch my startup, and the segment on 'situations in which you should choose one entity over another' was gold."

"As a new entrepreneur, I was completely lost on entity types, but now I feel confident taking the next step."

"I gained practical knowledge that helps me confidently choose the right business structure for my startup."

Provides essential information quickly, often under an hour.

"I finished it in under an hour as promised and now feel confident taking the next step."

"It covers the essentials clearly and quickly. For someone just starting, it's perfect."

"The 'under an hour' claim is true, which is great for busy people."

"Exactly what I needed! The course cut straight to the chase and delivered actionable insights."

Simplifies complex legal and financial concepts.

"This course breaks down complex legal and tax concepts into a super easy-to-understand format."

"The instructor explained things so well and kept it concise."

"It delivered on its promise of explaining complex topics simply."

"I truly appreciate how the course simplifies challenging legal and tax information."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in How to Choose the Right Entity: LLC vs. S-corp vs. C-corp with these activities:

Review the Difference Between LLC and Corporation

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This activity will help you better understand the different types of business entities and their advantages and disadvantages.

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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

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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.

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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

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This activity will help you to solidify your understanding of the different types of business entities and share your knowledge with others.

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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.

Three other activities

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Read the Book Corporate Finance

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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

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Read the book Corporate Finance.
Take notes on the key concepts.
Apply the concepts to your own business.

Volunteer at a Local Business

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This activity will give you hands-on experience with the different aspects of running a business.

Browse courses on Hands-on Experience

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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

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This activity will give you the opportunity to put your knowledge about business entities into practice.

Browse courses on Business Planning

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Come up with a business idea.
Develop a business plan.
Choose a business entity.
Start your business.

Career center

Learners who complete How to Choose the Right Entity: LLC vs. S-corp vs. C-corp will develop knowledge and skills that may be useful to these careers:

Reading list

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How to Choose the Right Entity

LLC vs. S-corp vs. C-corp

What's inside

Learning objectives

Syllabus

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Reviews summary

Clear & concise business entity guide

Activities

Career center

Reading list

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