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How to Choose the right Business Entity for your Company

Learn about the most common business entities and taxation options so you can make an educated choice for your company.
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11 students enrolled
Created by Adam Famulary
Last updated 1/2015
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  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What Will I Learn?
Have an understanding of the fundamentals (along with the pros and cons) of the most common business entities in the United States.
View Curriculum
  • It is recommended that the student have note taking material.

Entrepreneurs and small business owners are faced with what business entity (if any) they should use for their company. This course informs you as to the pros and cons of each business entity type so you can decide for yourself what the best business entity is for your business venture. Although I am a lawyer, I use layman terms and teach in a straight forward, no nonsense manner to help you understand the principles discussed.

Educate Yourself to Limit Liability in the Future
•Learn the difference between an LLC, corporation, and other business entities
•Find out if you even need a business entity at all
•Learn how to incorporate and organize an LLC
•Learn how to save money on taxes

Make Educated Business Decisions
You are super busy and faced with many decisions throughout the course of starting a company. One of the more important questions you are faced with is the type of business entity that you should form. This course discusses and gives examples of the general partnership, limited partnership, corporation, limited liability company, sole proprietor, "doing business as", and others. This course is perfect for those starting new business ventures as well as small business owners seeking to learn if they should be in a different type of business entity.

Content and Course Overview
In 8 Lectures and 59 minutes of content, I tell you about the various business entities available, using many examples for clarity. You will learn why the corporation has been so widely used, as well as why the LLC has been so popular as of late. I go into detail about how exactly the various business entities vary in limiting liability (including how sometimes they don't limit liability at all).

We also discuss the basics of business entity taxation, as well as some advanced taxation topics, such as how an LLC can be taxed as a corporation to save money on self-employment tax.

I designed this course to be beneficial for everyone, from the rookie entrepreneur to the seasoned small business owner.

After engaging in the lectures and participating in the end-of-course exam, you will understand the pros and cons of various business entities better than many lawyers.

Who is the target audience?
  • This course is meant for anybody who is looking to start their own business, or for the small-business owner who would like to learn more about business entities (to see if there is a better business entity option)
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Curriculum For This Course
Expand All 8 Lectures Collapse All 8 Lectures 59:16
1 Lecture 00:57

Course Outline

Preview 00:57
2 Lectures 18:57

An in depth discussion of what types of liability a shareholder of a corporation is and isn't protected from.

Preview 13:47
Limited Liability Companies
1 Lecture 05:56

Understand how a LLC differs from a corporation or partnership.

Background and Definition of the LLC
Composition and Organization
2 Lectures 18:16
Composition of a Corporation and LLC

How to Incorporate and Organize an LLC
Other Business Entities
1 Lecture 07:11
Other Commonly used Business Entities
Introduction to Taxation of Business Entities
1 Lecture 07:59
0 Lectures 00:00
Final Exam
20 questions
About the Instructor
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11 Students
1 Course

I am an attorney licensed in the State of Oregon. I specialize in estate planning, advanced estate planning, asset protection, and the formation of business entities. My background in asset protection gives me a unique understanding and viewpoint of business entities (and how to protect them from future creditors). A favorite part of my work is educating clients so they can make their own informed decisions. I take pride in making complex legal issues simple to understand. I regularly conduct seminars on areas of law related to my specialties, and publish articles on legal topics occasionally. I became an instructor on Udemy to reach a larger audience, in order to help more people make educated legal decisions.

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