As the owner of several businesses in the Los Angeles entertainment industry, I know from experience that if you're starting a new business of your own, you'll have a quadrillion questions.
Most “movers and shakers” need to pick between establishing a corporation (aka Inc.) or a limited liability company (aka LLC).
An LLC, or limited liability company, is a legal business entity you form to protect your personal assets from liability. It will also establish how your business income is treated come tax time.
Corporations are another business entity that also provides liability protection. They are an entirely separate entity from their owners, who hold ownership through shares (or stock) of the company.
These two business entity options have some similarities and, of course, differences. Choosing between the two will depend on your
business type and needs
your own liability and tax planning goal
SWIPE UP NOW TO DISCOVER MORE ABOUT THE SIMILARITIES AND DIFFERENCES BETWEEN AN LCC AND A CORPORATION. AS WELL AS, HOW TO DECIDE WHICH ONE IS RIGHT FOR YOU.
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