Guide to Business Types

All About Business Types, Taxing Business Types, Legal Issues, Ownership

Guide to Business Types
Guide to Selecting a Business Type. Andy Ryan/Getty Images

Want to start a business but you're not sure what type of business to select? Want to maximize your profit and pay lower business taxes by selecting the right business type? Want to change your business type to avoid legal liability? This guide will walk you through the process of selecting a business type and getting that business registered with your state.

Purpose of This Guide to Business Types

Many people will try to give you advice on selecting a business type.

Some will say, "this is the best type because it works for me." Attorneys may try to steer you to incorporating because it's the only business type they know. Others will tell you an LLC is the "best" type. Before you make ​a decision that will cost you lots of money, learn about the types of business in this guide. By the time you work your way through this guide, you will have a good basic understanding of business types and you will be on your way to selecting the type of business that best fits your needs.

The guide is set up in lessons, as a course of study. You can take the lessons in order, or jump to a topic that fits the questions you have at the moment. As you work through the process of setting up your business legal type, you may want to bookmark this guide so you can refer to it easily.

Lesson One - An Introduction to Business Types

Lesson Two: Partnerships and Limited Liability Companies (LLCs)

Lesson Three - Corporations and S Corporations

Lesson Four - Income Taxes for Business Types

Lesson Five - Selecting a Business Type

Lesson Six: Special Circumstances

    Lesson Seven: Resources and a Course Outline