Determining the Right Corporate Structure for Your Business

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Have you ever wondered about whether or not you can get sued in the course of doing your business? People often ask about the best corporate structure that would be suitable for their circumstances and one that would protect against personal liability.

We are joined by Ken Turnipseed from Whelchel & Carlton, LLP a firm located in Moultrie, Southern Georgia. Ken worked with Ernst and Young as a CPA and Tax consultant before going to law school. He then practiced with a large regional firm in Birmingham, Alabama until moving to South Georgia. He provides representation to both business and individual clients and does a lot of work in the areas of healthcare and small businesses.

We discuss

  • Natural persons and legal persons.
  • Minutes, resolutions, and other business records.
  • Setting up a corporation.
  • The difference between an S Corp and a C Corp.
  • Which type of business is best suited to an LLC structure?
  • The extent of liability protection depends on the corporate structure of your business.
  • How the law determines if an individual is liable when there is a case against a business.
  • What to consider when using business accounts to settle personal bills?
  • Choosing which tax rules should apply to your business.
  • Laws are different in every state, and you must seek competent counsel.

Invest the next 20 minutes in this episode, and you will get a lot out of it.

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