F Lee Frye

The Startup F Lee Frye

Choosing the right legal business structure is one of the most important decisions a business owner must make. What are the tax implications? How much liability will I have? Am I giving up some control over my business? This book answers these and many more questions entrepreneurs may have about choosing the right business structure. This book includes step by step processes for creating sole proprietorships, general partnerships, limited partnerships, limited liability partnerships, limited liability companies, subchapter S corporations, and C corporations. The book also explores owner liability and the protections that corporations, LLCs and limited partnerships provide. Additionally, the book explores types of liability that corporations are not protected from. Tax treatment of each type of business structure is discussed. Special attention is given to the new Tax Cuts and Jobs Act of 2017 and how this has impacted business structures. The question, "Can this new tax law save a business money by creating a C corporation?" is answered in this book. This book is a great resource to a new business owner who is trying to decide what type of business structure is right for their business.