What are the best business structure options for my startup?
An example of an AI chatbot conversation about choosing the right business structure.
What are the best business structure options for my startup?
The most common business structures are sole proprietorship, partnership, LLC, and corporation. Each has its pros and cons.
Can you explain the differences between an LLC and a corporation?
Sure! An LLC offers flexibility and protection from personal liability, while a corporation is more formal and can raise capital through stock.
Which structure is best for tax purposes?
It depends on your situation. LLCs often have pass-through taxation, while corporations may face double taxation. Consulting a tax advisor is wise.
What about liability protection?
Both LLCs and corporations provide liability protection, shielding your personal assets from business debts and lawsuits.
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