First, I will address the 501c3 debate as it’s sure to appear in the comments too. You can certainly set your school up as a non-profit. You can take donations this way, and people can deduct them from their taxes. Plan on it taking quite a long time to complete and you will have to invest some money with a CPA. I don’t intend to talk you out of it except to say – you can never sell your school. Who in their right mind would want to buy a non-profit? If you don’t care about that and have no intention of selling it, then talk to your CPA and attorney about the process and get going ASAP.

If you're currently teaching classes and haven't yet structured your business as an LLC, take a moment to consider it. LLC, or Limited Liability Company, is a straightforward option that you can set up in minutes and for very little money. It's a step you can take right now to protect your school and your future. Seize this opportunity!

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