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353. Jonah Gruda on Choosing the Right Entity Type for Your Practice

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Manage episode 285190647 series 1433158
Content provided by Will Bachman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Will Bachman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

A common question independent consultants ask is what type of entity they should use to establish their practice.

In this episode, Jonah Gruda reviews the most relevant aspects of the five types of entities that are most commonly considered:

  1. Sole proprietorship
  2. Partnership
  3. Limited Liability Company
  4. S-Corporation
  5. C-Corporation

For each entity type, Jonah reviews:

  1. Formation requirements
  2. Liability Exposure
  3. Taxation at the entity level
  4. Tax rates
  5. Tax reporting
  6. Compensation
  7. Number of owners
  8. Self-employment tax

Jonah Gruda is a Tax Partner at Mazars and specializes in income taxation, executive compensation and stock option planning, estate and gift planning and wealth preservation.

Jonah can be contacted through Mazars or LinkedIn.

Download this a comparison of entity types that Jonah and I discuss on the show.

Key points include:

  • 01:48: Introduction to the two broad categories of business entities
  • 08:56: The three types of partnerships
  • 12:33: Legal operating agreements
  • 15:11: Overview of limited liability partnerships
  • 18:06: Overview of a limited liability company
  • 27:31: Electing to be taxed as a C corporation
  • 29:55: S-corps and c-corps
  • 43:27: Filing fees

Unleashed is produced by Umbrex. For independent consultants interested in joining our global community, visit www.umbrex.com

Contact the host, Will Bachman: unleashed@umbrex.com

  continue reading

581 episodes

Artwork
iconShare
 
Manage episode 285190647 series 1433158
Content provided by Will Bachman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Will Bachman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

A common question independent consultants ask is what type of entity they should use to establish their practice.

In this episode, Jonah Gruda reviews the most relevant aspects of the five types of entities that are most commonly considered:

  1. Sole proprietorship
  2. Partnership
  3. Limited Liability Company
  4. S-Corporation
  5. C-Corporation

For each entity type, Jonah reviews:

  1. Formation requirements
  2. Liability Exposure
  3. Taxation at the entity level
  4. Tax rates
  5. Tax reporting
  6. Compensation
  7. Number of owners
  8. Self-employment tax

Jonah Gruda is a Tax Partner at Mazars and specializes in income taxation, executive compensation and stock option planning, estate and gift planning and wealth preservation.

Jonah can be contacted through Mazars or LinkedIn.

Download this a comparison of entity types that Jonah and I discuss on the show.

Key points include:

  • 01:48: Introduction to the two broad categories of business entities
  • 08:56: The three types of partnerships
  • 12:33: Legal operating agreements
  • 15:11: Overview of limited liability partnerships
  • 18:06: Overview of a limited liability company
  • 27:31: Electing to be taxed as a C corporation
  • 29:55: S-corps and c-corps
  • 43:27: Filing fees

Unleashed is produced by Umbrex. For independent consultants interested in joining our global community, visit www.umbrex.com

Contact the host, Will Bachman: unleashed@umbrex.com

  continue reading

581 episodes

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