The Impact of Choosing the Right Business Entity

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The Impact of Choosing the Right Business Entity

Which business entity should you choose to start a business and why? Sole Proprietor? Limited Liability Corporation? C Corp? When should you change your entity as your business grows? How have the new tax laws impacted business tax rates? Knowing the answer is key. Choosing the right business entity directly impacts how much tax you pay and legal liability. In this episode, host Mary Foley talks with Joye Sistrunk, Principal/Founder of Premier Group Services (PGSI), a Certified Public Accounting and Management Consulting firm in Lanham, MD. As she and her team help business owners, she finds again and again that business owners need to figure out the best entity for their business as they grow and change.
Listen and learn:
  • Exactly what is a "business entity"
  • The difference between a Sole Proprietor, LLC, S Corp, C Corp, and B Corp
  • How to decide which business entity is the best when you start and as you grow
  • How the new tax laws have made C Corps the lowest corporate tax rate in over 100 years
  • The financial and legal impact of choosing the right business type - and the wrong one
  • The biggest mistake and misunderstandings business owners make regarding business entities
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MEET OUR P.O.W.E.R. PLUG HOST...

Mary Foley
Mary Foley — Known for her insights, candidness and humor, Mary Foley energizes women entrepreneurs with the clarity, confidence, and tools to attract, engage, and win more clients. In addition to hosting the P.O.W.E.R. Plug podcast, Mary is the author of three books, energizing keynote speaker, business mentor and lover of red capes. For more, go to maryfoley.com.
The information contained in this P.O.W.E.R. Plug Podcast expresses the opinion of the author and does not constitute advice from or the opinion of Sonabank.
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