# Prepare to choose a business structure with my advisor

Compares sole proprietorship, partnership, LLC, and corporation for your situation and lists the questions to settle with a professional.

- Topic: Legal & Compliance
- Framework: Few-Shot
- Level: Standard
- Tags: Legal, Finance, Explain & Teach, Fill-in Template
- Source: https://www.thinkwithprompt.com/prompts/prepare-to-choose-a-business-structure-with-my-advisor

## Prompt

```text
Help me understand my business structure options before I meet an accountant or lawyer.

**Country and state/region:** [LOCATION]
**What the business does:** [DETAILS]
**Owners:** [just me / co-founders - with planned ownership split]
**Expected first-year revenue and profit:** [ROUGH RANGE]
**Risk level:** [e.g. "physical work in clients' homes", "advice that clients rely on", "online sales"]
**Funding plans:** [self-funded, loan, outside investors]
**Hiring plans:** [none, contractors, employees]

Do this:
1. Explain the structures commonly available where I am (e.g. in the US: sole proprietorship, general partnership, LLC, S corp election, C corp), in plain words: personal liability, how profits are taxed in general terms, paperwork and ongoing costs, and how easy it is to add partners or investors.
2. Compare them in a table against my situation.
3. Say which options look worth discussing first and why, without making a final call for me.
4. List the questions to ask my advisor: tax treatment, self-employment tax, state fees and annual filings, what investors would need later, and when to switch structures.
5. List what to bring to that meeting.

Use only general features; mark any specific fee, tax rate, or deadline [CONFIRM FOR MY LOCATION]. This is general information, not legal or tax advice; the right choice depends on details a qualified professional should review.
```

## What to fill in

- LOCATION
- DETAILS
- just me / co-founders - with planned ownership split
- ROUGH RANGE
- self-funded, loan, outside investors
- none, contractors, employees
- CONFIRM FOR MY LOCATION

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