Beyond the Basics: When Other Structures Might Be Necessary

By: A Staff Writer

Updated on: Jul 25, 2024

Not every solopreneur fits the LLC mold. Situations where you may need to look beyond the obvious:

• Major Risk Business: If lawsuits are a real threat, an LLC may not be enough.
• Seeking Investors: They usually demand a more formal business entity.
• Tax Strategy Obsessed: S-Corps can offer savings in the right scenario.
• Multi-Member Business: LLCs get complex with partners, other options exist.
• Selling in the Future: Your structure impacts how easy (and tax-friendly) it is.
• “Lifestyle Biz” vs. Big Goals: Overly formal structures create unnecessary work.

Don’t blindly pick a structure; make it match your reality.

A lawyer’s fee now is an investment to protect your hard work later.

For more ideas, inspiration, and innovative tips, or help please visit www.VentureHow.com
Like | Share | Repost to Support VentureHow.