One of the first choices youâll make as a new business owner is what kind of structure your company will have. Even if you donât file any kind of application, youâve made a choice to operate as something called a âsole proprietor.â . . 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, youâll 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 youâre the only LLC member, you can submit tour tax documents with your personal tax return. LLCs donât 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 protectionâto owners and shareholdersâ 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