SCORE: Choosing the Right Business Structure

How you set up your business can make a huge difference in the amount of financial risk you are exposing your assets to, the taxes you pay, and the set of legal rules that apply to your business. To say the least, some business types have more pros than cons! With all those options, how do you choose the right one for you? In this presentation, business attorney Kimberly Hanlon will cover the differences between the most common types of business structures for small businesses and the pros and cons of each one. She will also provide a handy guide you can take with you with a summary of the information. 

In this presentation, Kimberly will cover:

- What options do I have for my business?

- Which options provide me with personal asset liability protection? (And which ones don’t?)

- How about taxes?

- What rules apply to sole proprietors and general partnerships?

- What rules apply to LLCs (limited liability companies)?

- What rules apply to corporations?

- How do I choose the best business structure for my situation?

- When can I DIY, and when should I seek legal help?

Kimberly Hanlon is one of the founding attorneys at Lucere Legal, where she serves business owners and entrepreneurs with business law and litigation matters. She is also the author of The Minnesota Small Business Owner's Legal Survival Guide. She has been awarded with a Women in Business Award, an Up and Coming Attorney award, and she has been named a Super Lawyer's Rising Star for four years. She is married to her wonderful husband Richard, and in her spare time she loves to travel (at least before Covid times), read, and to do fun and creative projects.