This article will focus on C-Corps, S-Corps, and LLCs while next article will focus on setting up business bank accounts and important regulatory and legal filings that you must complete. There’s a lot of work to be done in this step, so we’re going to split this into two articles. Without this, you can’t begin operations. In addition to your business structure, you’re going to need to set up bank accounts too and ensure you’ve filed any necessary paperwork with regulatory agencies. You can’t run an RIA as a freelance operation, and there are significant tax and legal benefits to separating your business and personal assets as an organized company. But one equally important decision (especially to Uncle Sam and FINRA) lies ahead: your business structure. In our previous articles, we laid the groundwork to plan your independent RIA, including your business strategy and your budget.
C-Corps vs S-Corps vs LLCs: Which One Should I Choose?
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