One of the first things that you need to do when you start a business is pick out an entity type. However, the type of entity that you choose can have a significant impact on your tax situation. Self-employment taxes, the QBI deduction, and other factors need to be considered. In this course, we will explore the basic tax implications of choosing various entity types. We will discuss the differences between flowthrough and standalone entity types, including both tax and practical considerations – all so you can make the best decision possible for your business!