Starting a new business venture is extremely exciting. However, if you are like most entrepreneurs, setting up the legal structure of your new business is less than thrilling.

You may be tempted to avoid the issue completely, or to choose your legal structure based on a friend’s advice. The problem with this is that they may not really know what they are talking about.

As a small business owner, you may hurt yourself and your new business if you don’t fully understand the basics of business entities and how to choose the right business structure.

If you want to make sure you choose the right business entity, then be sure to avoid the mistakes listed here.…