How to Start a Business - Business Entity Selection

4.6

Learners: 8,453

Instructor: Todd McLeod

Duration:

This course provides an introduction to business entities and the nuances and differences between them. Learn how to create an entity, the role of the secretary of state, the importance of a trade name and Employer Identification Number (EIN), and how to make an “S” election for an “S corp”. Gain a thorough understanding of the advantages and disadvantages of different entity types and the implications of doing business without one. Get equipped to confidently choose the structure for your business and make better decisions. Start learning now! ▼▲

Course Feature Course Overview Pros & Cons Course Provider Discussion and Reviews

Go to class

Course Feature

Cost:

Paid

Provider:

Udemy

Certificate:

Paid Certification

Language:

English

Start Date:

2023-05-31

Course Overview

❗The content presented here is sourced directly from Udemy platform. For comprehensive course details, including enrollment information, simply click on the 'Go to class' link on our website.

Updated in [July 19th, 2023]

What skills and knowledge will you acquire during this course?
Participants in the course "How to Start a Business - Business Entity Selection" will acquire skills and knowledge related to understanding different business entity types, their advantages and disadvantages, and the nuances and differences among them. They will learn about sole-proprietorships, partnerships, limited-liability companies (LLCs), corporations (c corps), and corporations with an "s" election (s corps). The course will also cover topics such as the concept of a separate and distinct entity, the security provided by a separate business entity, the risks associated with piercing the corporate veil, and the structures of different ownership and management frameworks. Participants will be provided with an extensive outline and a comparison table to understand the differences in ownership, liability, management/control, taxes, documents, and capital contributions associated with different business structures. Additionally, they will receive a thorough reference of the documents needed to form a corporation and an LLC. Overall, upon completion of the course, participants will be better equipped to select the appropriate business entity for their specific situation.

How does this course contribute to professional growth?
This course on business entity selection provides participants with a comprehensive understanding of different entity types and their advantages and disadvantages. It equips participants with the knowledge to make informed decisions about selecting the appropriate business structure for their situation, contributing to their professional growth.

Is this course suitable for preparing further education?
This course, How to Start a Business - Business Entity Selection, is suitable for preparing further education because it provides a comprehensive understanding of different business entity types and their implications. Participants will gain knowledge about sole-proprietorships, partnerships, limited-liability companies (LLCs), corporations (c corps), and corporations with an “s” election (s corps). They will also learn about the concept of a “separate and distinct” entity, the security provided by a separate business entity, and the risks associated with piercing the corporate veil. The course further covers the structures of different ownership and management frameworks. Additionally, participants will receive an extensive outline and a comparison table that highlights the differences in ownership, liability, management/control, taxes, documents, and capital contributions associated with various business structures. The course also provides a thorough reference of the documents required to form a corporation and an LLC. Overall, this course equips participants with the necessary knowledge to select the appropriate business entity for their specific situation.

Course Syllabus

Introduction

Getting Started

Exercises - Level 1

Sole Proprietorship

Partnerships

Exercises - Level 2

Understanding Corporations (Inc.)

Formation Of A Corporation (Inc.)

Exercises - Level 3

Limited Liability Company (LLC)

Formation of an LLC

Exercises - Level 4

Demonstrations

Farewell

Pros & Cons

Pros Cons

Easy to follow and understand: Many users found the course content to be easy to follow and comprehend. They appreciated the simplicity of the explanations, which made it easier for them to grasp the concepts and apply them to their own business ventures.
Useful and informative: Several users mentioned that they found the course to be filled with useful information. They appreciated the solid foundation it provided and felt that it saved them time in researching relevant information. The examples and quizzes were particularly appreciated as they helped reinforce the knowledge gained.

Unprofessional presentation: One user criticized the course for having an unprofessional presentation, which was unexpected considering the professor's 20 years of experience. This may have affected the overall credibility and trustworthiness of the course for some users.
Issues with quizzes: Another user pointed out several issues with the quizzes, such as the answers being given before the actual quizzes and most of the questions being obvious. This undermined the effectiveness of the quizzes as a learning tool and may have left some users feeling unsatisfied with the assessment aspect of the course.