How to Start a Business - Business Entity Selection (Udemy.com)

This is one of the most important courses you can take before starting a business.

Whether you are starting a new business or re-evaluating your current business circumstances, you may want or need a “business entity” that is separate from you in the eyes of the law.

The type of structure you choose for your business can be critical to the successful management and growth of your business and can also have important tax implications.

In this course, you will learn all about different entity types and the implications of doing business without one. You will gain a solid introduction to business entities and learn the nuances and differences among them.  You will be more readily informed to discuss your needs with business associates and professionals and be equipped to more confidently choose the structure for your business.

In this course you will gain a thorough understanding about important differences in doing business under different structures, including:

• Sole-proprietorships

• partnerships

• limited-liability company (LLC)

• corporation (c corp)

• corporation with an “s” election (s corp)

This course will also introduce you to the advantages and disadvantages of the different entity types so you are more informed and empowered to readily select the entity which is correct for your situation.  

This course will cover:

• an introduction to business structures

• the concept of a “separate and distinct” entity

• the security that can be provided from a separate business entity

• the risks associated with piercing the corporate veil

• the structures of different “ownership and management framework”

You will also be given an extensive and thorough outline for the course and an easy to understand comparison table that shows the differences in Ownership, Liability, Management/Control, Taxes, Documents, and Capital Contributions associated with the different business structures.

In this course, you will learn:

• how to create an entity

• the role of the secretary of state in most states

• where to go to learn about entities in your state

• the importance of a trade name and how to create one

• the importance of an Employer Identification Number (EIN) and how to get one

• how to make an “S” election for an “S corp”

You will also be given a thorough reference of the documents needed to form a corporation and an LLC.

For many business situations, you can create and register a business entity on your own. If you understand the issues and the process you can decide whether it makes sense to consult with legal counsel for assistance. This course will prepare you to have the basic knowledge to communicate more effectively from an educated perspective and to make better decisions.

We are excited to offer this course to you and know, from our own experience, that the material in this course will be incredibly helpful and valuable to you.

We’re glad you’re here to learn this important information so let’s get started learning!