Whether you are organized as a sole proprietor, partnership, LLC, S Corporation, or C Corporation affects how you'll be taxed. Below is a summary of the differences. Is your company structure the best one for you? Attached is a resource with more details about each type of structure.

A mission statement defines the What, How, Who, and Why your business makes sense. It should be short, powerful, and creates focus in daily operations. It can also provide a foundation for company culture. Large companies often spend millions in developing a mission statement, while many of us have never put thought to this. Amazon's original mission statement was: "to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.” Today their mission statement reads “Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work.” As companies evolve, often their mission evolves, as well. Even if you have been in business for years, it's helpful to revisit the Why periodically. The easy answer, of course, is to make money, but there are millions of ways to make money. It's helpful to know why your company exists. What is your Why?