In this episode of Get The Money Right, Todd will be interviewing his CPA, Maureen O'Rourke, about various business entities and their respective advantages/limitations.Glossary:Sole-Proprietor: A sole proprietor is someone who owns an unincorporated business by himself or herself.LLC: A Limited Liability Company (LLC) is a business structure allowed by state statute.Corporation (C-Corp/S-Corp): In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income.Schedule C: Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor.Schedule K-1: Schedule K-1 is a federal tax document used to report the income, losses, and dividends of a business' or financial entity's partners or an S corporation's shareholders. The Schedule K-1 document is prepared for each individual partner and is included with the partner's personal tax return.1099 Form: The IRS 1099 Form is a collection of tax forms documenting different types of payments made by an individual or a business that typically isn't your employer.All descriptions/definitions taken from irs.govSubscribe to stay tuned for more real-time financial strategies that will improve your real estate business!If you are a real estate agent that is getting their money right and would like to be featured on the show, please email getthemoneyright.podcast@gmail.comShow Links:Get The Money Right WebsiteLinkedInInstagramCredits:Hosted by: Todd ButzerSpecial Guest: Maureen O'RourkeProduced by: Joe RodriguezDisclaimer:All opinions of the writers and speakers are their own and do not constitute financial advice in any way whatsoever. Nothing published by Get The Money Right constitutes an investment recommendation or financial advice, nor should any data or content published by Get The Money Right be relied upon for any investment or financial planning activities. Get The Money Right strongly recommends that you perform your own independent research and/or speak with a qualified professional/advisor before making any financial decisions.