Episode 7 – Entity Formation

February 27, 2024

In this episode of Building Wealthy Habits, Randy Barkley and Laura Lee dive into the finer details around entity formation.

Today’s episode of Building Wealthy Habits discusses different business structures and entity formations. Jeremiah provides insights into sole proprietorships, partnerships, LLCs and corporations. They explore the tax implications of LLCs versus S Corps and how to hold appreciated assets. Randy and Jeremiah advise regularly consulting advisors as a business grows and circumstances change. Tune in to learn how to structure your business for liability protection, taxes and future planning.

This week on Building Wealthy Habits:

  • Healthy habits and cookie preferences. (0:00)
  • Business ownership structures and formation. (1:55)
  • Business partnerships and formation. (6:38)
  • Legal entities for businesses and their liability protections. (12:16)
  • LLCs and S Corps for tax purposes. (14:51)
  • Business advisory services and financial planning. (25:23)

Connect with Randy:

  • LinkedIn: https://www.linkedin.com/in/rkbarkley/
  • Email: Randy@tricordadvisors.com

Connect with Jeremiah:

  • LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
  • Email: Jeremiah@tricordadvisors.com

Connect with Laura:

    • LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
    • Email: Laura@tricordadvisors.com

This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest.

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