One of the first choices you’ll make as a new business owner is what kind of structure your company will have. Even if you don’t file any kind of application, you’ve made a choice to operate as something called a “sole proprietor.” . . If you want to protect your personal assets (house,car, bank accounts) from any kind of potential liability/problems that arise as you operate your business, you’ll want to consider registering an LLC or incorporating a corporation. . . The LLC will provide liability protection & you can choose whether to file separate taxes or, if you’re the only LLC member, you can submit tour tax documents with your personal tax return. LLCs don’t offer stocks, and this can make it harder to raise money. But, there are few formal requirements to keeping your LLC status. . . The corporation also provides liability protection—to owners and shareholders— but it is always a separate, tax paying entity. Corporations can offer stocks to others, which is helpful for raising money. But, you are required to have a certain number of meetings to keep your corporate status. . . For more on this, plus some info about sole proprietorships and nonprofits, check out episode 13 of the #ShontaviaShow. . . #makeithappen #shontavia #shontaviajohnson #inspiration #business #entrepreneurship #motivation #entrepreneur #sidehustle https://www.instagram.com/p/B84h-67Fsoc/?igshid=1vl3kh41p6qmb