to bankrupt

Welcome to English as a Second Language Podcast number 712: Types of Business Entities.

This is English as a Second Language Podcast episode 712. I’m your host, Dr. Jeff McQuillan, coming to you from the Center for Educational Development in beautiful Los Angeles, California.

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This episode is a dialogue between Ron and Marcela. It is about the kinds of business organizations – the legal ways of organizing your business in the United States, what we call “business entities.” Let’s get started.

Ron: I’m only your tax accountant, but let me give you a piece of advice. If you’re planning to start a business, you’ll want to carefully consider what type of business entity you want to do business under.

Marcela: Is that important? My parents ran a mom-and-pop store for 40 years and they never had to think about stuff like that.

Ron: I don’t know about your parents’ business, but opening a store these days