Uploaded September 2023 | Updated September 2026, 1 week ago
Looking to start a business but stuck on choosing the right structure? Whether it's an LLC, sole proprietorship, corporation, S-Corp, or partnership, making the right choice is crucial. In this video, as a Certified Public Accountant (CPA), I'll break down the pros and cons of each business type to help you make an informed decision.
❗ Check out CorpNet for your entity creation needs: corpnet.com/?PID=1446
Stay tuned for my #1 personal recommendation. Don't miss out on this essential business advice. Hit that Subscribe button and ring the notification bell for more expert CPA tips and advice.
💡 NEW COURSE: File Your Own LLC/Sole Prop. Taxes Without Hiring an Expensive Accountant!
noellorenzanacpa.com/how-to-file-taxes-for-your-side-hustle
Keywords: Business Structure, LLC, Sole Proprietorship, S-Corp, Partnership, Business Advice, CPA Tips, Starting a Business, Pros and Cons, Tax Benefits
🛑 Freelancers & Side Hustlers: Simplify Your Taxes! Download My Ultimate Guide to Side Hustle Taxes Now!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
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youtu.be/p7GErFar-gA
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Thanks for watching my video on, Can Choosing the Wrong Business Type Ruin Your Business Plans?
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - Picking The Right Business Type For Your Business
01:47 - What is Sole Proprietorship?
01:57 - Pros and Cons of a Sole Proprietorship
02:56 - Who Are Sole Proprietorships Suited Best For?
03:29 - What is Partnership?
03:49 - Pros and Cons of a Partnership
04:45 - Who Are Partnerships Best Suited For?
05:44 - What is a C Corporation?
06:02 - Pros and Cons of a C Corporation
07:01 - Who Are C Corporations Best Suited For?
08:05 - What is an S Corporation?
08:26 - Pros and Cons of a S Corporation
09:38 - Who Are S Corporations Best Suited For?
10:35 - What is an LLC or Limited Liability Company?
11:09 - Pros and Cons of an LLC
12:02 - Who Are LLC Best Suited For?
Replay Video Link: youtu.be/zM8iqwlPH70
#businessstructure #businesstips #startingabusiness
Looking to start a business but stuck on choosing the right structure? Whether it's an LLC, sole proprietorship, corporation, S-Corp, or partnership, making the right choice is crucial. In this video, as a Certified Public Accountant (CPA), I'll break down the pros and cons of each business type to help you make an informed decision.
❗ Check out CorpNet for your entity creation needs: corpnet.com/?PID=1446
Stay tuned for my #1 personal recommendation. Don't miss out on this essential business advice. Hit that Subscribe button and ring the notification bell for more expert CPA tips and advice.
💡 NEW COURSE: File Your Own LLC/Sole Prop. Taxes Without Hiring an Expensive Accountant!
noellorenzanacpa.com/how-to-file-taxes-for-your-side-hustle
Keywords: Business Structure, LLC, Sole Proprietorship, S-Corp, Partnership, Business Advice, CPA Tips, Starting a Business, Pros and Cons, Tax Benefits
🛑 Freelancers & Side Hustlers: Simplify Your Taxes! Download My Ultimate Guide to Side Hustle Taxes Now!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/p7GErFar-gA
youtu.be/QVU_ioJf2ho
youtu.be/tdoq7J9v2Xw
youtu.be/X1dCHl4Vc64
Thanks for watching my video on, Can Choosing the Wrong Business Type Ruin Your Business Plans?
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - Picking The Right Business Type For Your Business
01:47 - What is Sole Proprietorship?
01:57 - Pros and Cons of a Sole Proprietorship
02:56 - Who Are Sole Proprietorships Suited Best For?
03:29 - What is Partnership?
03:49 - Pros and Cons of a Partnership
04:45 - Who Are Partnerships Best Suited For?
05:44 - What is a C Corporation?
06:02 - Pros and Cons of a C Corporation
07:01 - Who Are C Corporations Best Suited For?
08:05 - What is an S Corporation?
08:26 - Pros and Cons of a S Corporation
09:38 - Who Are S Corporations Best Suited For?
10:35 - What is an LLC or Limited Liability Company?
11:09 - Pros and Cons of an LLC
12:02 - Who Are LLC Best Suited For?
Replay Video Link: youtu.be/zM8iqwlPH70
#businessstructure #businesstips #startingabusiness
