What is your business structure (Sole Proprieter, S-Corp, LLC, etc.) and why?

JS: My biz is structured as an LLC. Always best to keep personal and business assets separate plus it helps with taxes too. Talk to an accountant to figure out what makes sense for you.

CC: I incorporated my business after being a sole proprietor for 8 years for tax benefit and liability reasons. I was fine with not incorporating before because I didn’t have any personal assets that I was concerned about losing should something go wrong and I get sued. My business is currently incorporated as an LLC and treated as an S-Corp (confusing, I know). Based on my income, the tax benefits I receive outweigh the annual fees associated with filing as an S-Corp. Everyone’s tax situation and income is different so it might not make sense for you to change your business structure. If you want to learn more read this and reach out to a CPA or accountant. If you’re looking for one in the LA area, I work with Jason at Safer & Co.