According to Form: Choosing the Right Business Entity

Opiela, Nancy
July 2004
Journal of Financial Planning;Jul2004, Vol. 17 Issue 7, p36
Academic Journal
This article provides information on ways by which to choose the right business entity. In a classic example of a small-business owner operating in the wrong business entity, a bridge builder doing business as a sole proprietor came to see Ellwood Jones of Capital Region Financial Group LLC in Folsom, California. According to Chris Caswell, chief financial principal at Christopher K. Caswell, years ago, there were fewer factors to consider when counseling clients on choosing a small-business entity. In modern times, matrix of factors is getting larger for all types of entities. Apparently, there is a need to discuss asset protection, estate planning issues, and self-employment tax. Grace C. Wellwerts, chief financial principal at Rocky Mountain Planning Group Inc., asks questions such as in a small-business entity fact-finding session. Another driver in more time spent considering entity selection is an approach advocated by Keith Newcomb of Full Life Financial LLC. Newcomb allegedly encourages his clients to look at their business in the context of their overall life. Apparently, there are lots of creative ways to use entity selection to help propel clients toward the achievement of their goals and the fulfillment of their personal life mission.


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