Help! Business/legal setup

Discussion in 'All Other Discussions' started by Gina B, Oct 18, 2011.

  1. Gina B

    Gina B
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    Help! Any business/tax people here who could give me help in the classroom about the different legal setups of businesses, ie sole proprietorship, S-corps, LLC's, and a few questions on stuff like what owning a sports team would be, etc.? If so and you're willing to call me preferably really soon or at least sometime before noon, please reply and I'll message you the number you can call me at. Gotta get it done today for students and didn't have time last night to fully look it up for them, taking over for a business teacher who is sick and I couldn't explain it fully for them yesterday beyond the most basic, it's been too long!
     
  2. Ruiz

    Ruiz
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    Gina,

    I am not a tax attorney, nor an expert on business taxes as my expertise in Business Leadership and Management. However, I am a College Business Professor. I think my help would be in vain as my understanding of these is very elementary and I have only set-up a c-corp and walked someone though an LLC. I have not taught Entrepreneurship or a beginning business class in a while (though, I may be teaching one soon). You can utilize me, but I doubt I can be much help.

    There are some legal site that gives a good explanation of the major areas.
     
  3. Salty

    Salty
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    Gina,

    I recommend you contact SCORE. These are retired businessmen who will help those interested in starting a business.
     
  4. Gina B

    Gina B
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    It was teaching it to a high school class Salty.

    I got it. They ended up just needing the basics, which I was fine with. I'd thought they'd already been through it but this was just more of an intro to it. The only thing I didn't quite know about was sports teams, as there is so much involved that it's hard to explain unless you've really sat down and studied it in the past and if I remember right, there is a separate club type legal format to it that is pretty exclusive to that type of ownership. Guess I just don't know that one, but that was the only business proposal I couldn't help with on that aspect out of everyone, so it went quite well!
    I tend to over-prepare, gotta chill out sometimes, but I hate having a question pop up and not being prepared for it.
     

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