Hi

LLCs and Corporations have the same corporate shield, but the terminologies they use, while parallel, are completely different.  It's important to keep the terms straight. Check out a list of the terms for each entity at http://www.llcwizard.com/corporations-vs-llc-terms

The terms may be different, but they describe the same concepts--one in the LLC world and one in the corporate world (my video has a more thorough explanation). Once you get the terminology down for LLCs and corporations, you'll have to decide which entity you want. There are a few reasons why you might want to establish a corporate legal structure.  However, for the vast majority of small business owners, the LLC is the better choice.  For more information on the similarities and differences between an LLC and a Corporation, see my article at http://www.llcwizard.com/llc-vs-corporation.

Lee Phillips

P.S. We've turned people away from the last couple of our Boot Camps, so we have scheduled two Boot Camps early in 2017 to meet demand. They will be held January 23 and 24 or March 27 and 28 of 2017. Make sure you make the most money possible and protect your assets next year. Planning is something you do early in the year, not when it's too late. Register now to get a seat.