Over the course of running your business from day to day, I’d imagine that examining the merits of your company’s business-entity structure rarely makes it to the top of your to-do list. And yet, the truth is your business’ legal structure can weigh pretty heavily on your financial future. It can affect everything from liability issues to tax bills and even financing opportunities.
If you suspect your current structure isn’t meeting your needs, you owe it to yourself to look into the options. And if you’re reading this, you’ve probably already chosen a business structure at least once in your life. Even so, it’s worth reviewing the five primary structures before we dig into why you might want to change things up.