This video is lesson one on incorporating your business either as a simple corporation or as a limited liability corporation (LLC). In the downloadable PDFs you get your lesson material detailing the advantages and disadvantages of both.
After studying this information you may think you know what your business type should be. However, I suggest you wait on that decision until after you have studied all four types.
You may still have questions about why you should be concerned about business identity. As mentioned in the introduction of the course the government thinks of authors as a business and they want their fair share of the profits. That means income tax or sales tax or possibly both. You want to be prepared not only for the taxes themselves, but also for the reports you have to file. It would be a wise thing to check with your government to find out what your government’s policies are about Sales Tax..
Here are four things to look for:
- Flexibility
- Cost
- Fit for your business
- Ease of use
