You’ve finally decided to go into the coaching business. Through hours and hours of research, you picked your niche, picked your target market, and decided what products or services you will be offering through your coaching. Now it’s time for the fun stuff!
Oh, wait… Business legalities and government jargon? Taxes? This doesn’t sound fun at all.
You’re right. It is a nightmare for most people (it was for me at first). In fact, it’s not fun at all… if you don’t understand how it all works.
But if you know a couple little tips and tricks when it comes to understanding how business entities work, you can use them to your advantage. Oh and trust me… once you discover the loopholes and tax advantages, this information could be worth tens (if not hundreds) of thousands to you.
Here are the advantages and disadvantages of each of the three main business entities: [Read more…]