How to Choose the Best Legal Entity for Your Business Choosing a legal entity can be complicated, but it can help protect your business's assets. Attorney Mark Kohler explains.

By Mark J. Kohler

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

While determining which legal entity is best for your company can get complicated, it's important to protect your business's assets. Attorney and CPA Mark Kohler recommends thinking of it in two ways: short term -- such as selling a product or service -- and long term -- including buying property and making investments. For short term ventures, Kohler suggests starting with a sole proprietorship. For longer ventures, he says you'd most likely want to go with a limited liability company (LLC).

Mark J. Kohler

Entrepreneur Leadership Network® VIP

Author, Attorney and CPA

Mark J. Kohler is a CPA, attorney, co-host of the podcasts Main Street Business and Directed IRA Podcast and a senior partner at both the law firm KKOS Lawyers and the accounting firm K&E CPAs. He is also a co-founder of Directed IRA Trust Company. He is the author of The Tax and Legal Playbook, 2nd Edition and The Business Owner's Guide to Financial Freedom.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Data & Recovery

Support Your Business with 1TB of Cloud Storage for Just $140

Upgrade your business's cloud storage solution with a one-time payment.

Business News

Former Pediatrics Professor Donates $1 Billion, Makes Albert Einstein College of Medicine Tuition-Free

Dr. Ruth Gottesman's husband left her $1 billion in Berkshire Hathaway stock with the following instructions: "Do whatever you think is right with it."

Side Hustle

20 Side Hustle Ideas for Summer 2024: Part Two

Here are 10 more side hustle ideas that will get you ready to make extra income this summer.