Learn when to switch business structures—sole proprietorship, LLC, or corporation.
Starting your own business or becoming self-employed is an
exciting time in anyone’s life. You’re getting a chance to live
your dream of working for yourself in a field that you love and
not having a boss telling you what to do and when.
Working for yourself also means not having a company that
automatically takes Social Security taxes out of your
paycheck or protects you from lawsuits. The business
structure that you set up when forming your business is
• Compare sole proprietorships, partnerships, LLCs, and corporations side by side.
• Understand how liability and taxes change when you switch structures.
• Learn practical steps and checklists for converting to an LLC or corporation.
• Use business-plan thinking to decide what structure fits your growth goals.
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