Whether you're just starting your business, have been 'freelancing' for a while, or have been in business for years, there's never a bad time to review the legal structure of your company. There are several options to choose from and some forms may be more appropriate than others given your particular situation.
Each form has its own set-up requirements, tax implications, advantages and risks. Take some time now to consider your choices and consult with a tax advisor or attorney before making your final selection.
There are two forms that are considered 'default' forms. That means unless you do something affirmative to the contrary, the assumption under current law, is that your business is either a sole proprietorship or a general partnership.
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