Chapter 3: Entity Types
When creating a business, there’s a handful of different entity structures you can use to organize your company. In general, it’s always a good idea to create some type of entity to operate your business under, so you can avoid personal liability and streamline accounting and taxes. Muddying up personal expenses with business expenses in the same bank account is an easy way to end up with the IRS knocking at your door. So play it safe, and get to filing. In this section we’ll cover different entity types, and which is right for you.