The would-be entrepreneur's handbook

...in the eyes of the law and the IRS by settling on a structure for your business. C-Corp and S-Corp designations are meant for companies that have multiple investors or that plan to go public; most businesses can opt for the less labor- and cost-intensive sole proprietorship or limited liability company (LLC). For more on how to set this up, talk to your lawyer or get The Small Business Start-Up Kit (nolo.com; $30 for the book and the CD.)

NEXT: Step 8: Chase the moola