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The "LLC, S-Corp, or C-Corp" question is one of essential importance: Make the right decision, and you'll be paying less tax; you'll know your personal assets are protected from lawsuits against your business; and you might even save yourself some money on accounting and legal fees. Make the wrong decision, and you'll be paying an unnecessary amount of tax; you'll be wasting money on legal bills; and you'll be only a lawsuit away from losing your home and other personal assets. Find the following, explained in plain-English with no legal jargon: * The basics of sole proprietorship, partnership, LLC, S-Corp, and C-Corp taxation. * How to protect your personal assets from lawsuits against your business. * When the protection offered by an LLC will work. (And more importantly, when it will not!) * Which business structures could reduce your federal income tax or self-employment tax.