contact Us

Our roots may be in Texas, but our passion extends far and wide. We're excited to collaborate with clients across the US and around the globe.

Let's Collaborate

GraphIc Design







What Type of Business Structure Do I Need?

January 11, 2019


Join me on Instagram

It's great to have you here! As a seasoned business coach, consultant, mentor, and motivational speaker with over 20 years of experience, I'm excited to share my personal and professional insights to help you on your entrepreneurial journey. Let's get started!

Hi, I'm Jennifer!

Dear Jenny,

What type of business structure do I need for my small business? LLC, sole proprietorship, S Corp, partnership, limited partnership? HELP! I’m running my business solo and I’m totally confused about how I should set it up for tax purposes. What are the advantages vs. disadvantages of each one?

Dear Confused,

I’m not a CPA or an attorney so I won’t pretend to be an expert here! I Googled some articles that explain business structure formation and the taxes associated to provide some clarity to your questions.

I can tell you off the bat though, that if you’re running your business solo, a partnership is probably out of the running for obvious reasons. *wink*

Like quizzes? Here’s one that’ll ask you some questions about your plans for your business, and then suggest a structure that would be a great fit: Entity Choice Wizard. Use this as just a starting point of course! Always get the pros involved when things get legal-y and technical and you don’t feel like you have a grasp on what’s going on.

Did you take the quiz?

Okay, now read these articles to get the full rundown:

Now that you have a better feel for the lay of the land, I do recommend meeting with your CPA to help you choose the tax structure that is right for you and your business. You can also use online services like Legal Zoom or Rocket Lawyer to help choose and form your business structure since there are different guidelines and taxes associated with each structure.

It’s a fairly simple process, so don’t stress too much about it! Hope this helps.


Disclaimer: The advice given in this column is for educational, informational and entertainment purposes only. The reader is responsible for the outcomes of any actions and/or decisions made based on this advice.

+ Show Comments

- Hide Comments

Add a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More Faves 


Get the right people to listen and start taking action. The Brand Clarity Workbook is designed to help you create a strong definition of your brand, attract more customers, and build a loyal audience who will buy from you again and again.

Marketing Made Easy

Get the WoRKBOOK

About Jennifer

Hello, I'm Jennifer. With a career spanning over two decades, I've had the pleasure of collaborating with a diverse spectrum of companies - from eager startups to global Fortune 500 giants. I passionately believe in transforming entrepreneurial dreams into tangible realities, infusing vitality into businesses, and sparking positive change that ripples out to impact our clients' families and communities. Together, we're not just building businesses; we're illuminating the path towards a brighter, more prosperous future.

Meet Jennifer Taormina: Championing Business Growth and Transformation

Subscribe Today!

Subscribe to the Home Office Monthly Memo and gain access to a wealth of expert advice, practical solutions, and inspiring stories every month. Delve into proven strategies for goal-setting, habit-building, and taking meaningful action, all designed to boost your profits and enhance your work-life harmony. Don't miss out on your monthly dose of business insights and motivation – join me on this journey toward greater success and personal fulfillment..

Introducing the Home Office Monthly Memo: Unlock Your Business Growth and Success