There is no question that starting your own business is a lot of work. It can become increasingly frustrating as you attempt to wade through the numerous issues of starting a business. You want to do it right from the start, making sure all of your "I's" are dotted and your "T's" are crossed. But, you also want to make sure that you are able to take full advantage of all the benefits and safeguards available to you.

Many people are unaware, or even confused, by many of the benefits and safeguards available to new business owners. This article attempts to shed light on two particular areas that can dramatically affect the profitability and potential liability of your business.