Courtesy of Guest Blogger, Stanley J. Bushner, Shareholder, Buckno Lisicky & Company CPA's
There are many items to consider when starting a business. High on my list is the selection of a business structure or entity that is best for you, your business and the assets it holds.
The common choices for a small business are a LLC (Limited Liability Corporation) and S corporation. Both business structures will give you personal asset protection, excluding a personal service corporation, if set up right and you follow business procedures for your chosen entity. That does not mean you should forget about some kind of business insurance.