Best Business Entity

by Lydia Myhren
(Sparta, NJ, USA)

I am looking forward to starting my a "in-home" personal training business specific to young moms and moms to be in Sparta, NJ. I've just begun my research into business considerations, policies, marketing, insurance, etc. I have read that it is best to incorporate your business to keep personal funds and business funds separate. I am wondering if you agree with this and could offer any advice on how to go about doing this? And if you could recommend an attorney in this area? Thank you!

Sincerely,
Lydia Myhren

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Best Business Entity
by: Charles Weller - FITNESS LAWYER

Incorporating your "in home" personal training business offers you the same advantages as any other personal trainer who decides to incorporate. Some of these benefits include protecting your personal assets from potential business liabilities, tax advantages (corporations have more favorable tax treatment and get to use pre-tax dollars for business expenses, and additional business deductions (medical reimbursement plans, disability insurance, health insurance premiums, retirement plans, etc.) While it is a good idea for any business to segregate personal and business funds, it is a requirement for all corporations. It is a good idea to have an experienced attorney familiar with your type of business set up your corporation. You do not need to use a local attorney in order to do so. Please let me know if I can be of further assistance.

Best Business Entity

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