Choosing a Business Entity Webinar

Starting a business is a big undertaking and is admirable. However, it entails great risks. One risk that is not always recognized is the choice of entity and that is something that should be decided upon before starting the business.

Join me on November 21, 2024 for a webinar on Considerations for Choosing the Right Business Entity to determine which is best for you. Register for free here.

A few months ago, I was on a panel for the Small Business Administration to answer questions for people who either were starting a business or who just started one, and I was assigned three people for one-on-one sessions. Coincidentally, they all asked me a similar question, which was, in essence, about whether they should be an S corporation. In my consultations with them, they all had some unique questions related to their individual circumstances in addition to the typical questions. However, they were also all off base, considering their individual situations as they explained them to me. Afterward, I reached out to some colleagues, and they had the same experiences with clients. This served as the impetus to develop a program on Choosing a Business Entity for my continuing Take A Business Break virtual series for the East Brunswick Public Library which I will be presenting on Thursday, November 21.

There are numerous types of entities that could be decided upon, including being a sole proprietorship, organizing a single member Limited Liability Company (LLC) or an LLC with someone else, including a spouse or a professional LLC, organizing a general or limited partnership or a C or S corporation. There are also others that are much less common that would be used in special circumstances. The state of the organization might also be a factor. Choices would also be made based on who the owners are and possibly their motive for joining the business with the primary person starting that business. There are also some major issues if there is a foreign investor, which is becoming more and more common. Further, getting started with the wrong entity can cause added taxes and difficulty later on when bringing in added investors or partners or needing to change the form of an entity as the business grows or circumstances change.

The hour-long webinar will discuss each of these issues and many more. Attendance is free, but registration is necessary. Learn more or sign up here. The webinar will be from 12:00 p.m. to 1:00 p.m. ET on November 21, 2024. You can watch it while having your lunch if you want. The copy of the presentation that will be distributed to attendees afterward should become a valuable resource for you.

For those who do not know me, I am an emeritus partner at Withum, a top 25 accounting and advisory firm, one of Forbes’s Top 200 CPAs in America and Accounting Today’s 100 Most Influential People, the author of 32 books, and an adjunct professor at Fairleigh Dickinson University and Baruch College. I have also testified twice before the House Ways and Means Committee on Tax Policy.

I look forward to “seeing” you on November 21, 2024, .

Comment: My Memoirs as a CPA book has been published and is available in Kindle and print editions at amazon.com. Buy it, read it and enjoy it!