Client & Payment PortalBusiness Owners: Don’t Choose the Wrong Legal Structure
In this episode of TFE Talks, attorneys Jordan and David discuss the importance of choosing the right business entity, exploring sole proprietorships, general partnerships, limited partnerships, and LLCs. They break down the tax implications and liability concerns for each structure, emphasizing how the default choices can impact your personal assets and business risks. Listeners will learn why proper entity selection and professional guidance are crucial for protecting their wealth and ensuring long-term business success. Don’t miss these great insights!
Notes:
Topics in this conversation include:
- Welcome to Today’s Episode and New Recording Format (0:42)
- Sharing Recent Accolades for Jordan and David (3:11)
- Why Entity Choice Matters for Business Owners (6:18)
- Sole Proprietorships: Simple but Risky (9:24)
- Accidental Partnerships and Liability Insights (12:25)
- What Distinguishes Limited Partnerships? (15:30)
- LLCs: Flexibility, Taxation, and Asset Protection (18:36)
- Final Takeaways and Previewing the Next Episode (20:30)
TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you’re refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.
The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.