What are some of the things owners tend to overlook?

This is such an important question.

There are a few different things to look out for when you're opening a business.

You want to know whether or not you're a sole proprietor, an LLC, an S-Corp or C-Corp.

Sole proprietors have minimum requirements.

LLCs, S-Corps, C-Corps must file annual reports with the state they're registered in.

S-Corps and C-Corps must also pay excise tax for the state they're located in.

Have you seen situations where not paying attention to these details caused real problems for a business?