LLC or Sole Proprietorship?
I am in the beginning stages of starting an online business. I have had a few B&m's before so this is kind of all new for me. How should you form a web based business? All it is, is a business listing site. LLC, or Sole? Thank you.
Re: LLC or Sole Proprietorship?
For a business listing site, I think you would be fine with a sole prop.
If you move onto anything major, or have even a slight chance you might get into some legal problems, switch over to an LLC. It's not that hard.
Re: LLC or Sole Proprietorship?
Not enough info to make an educated decision. What volume, what risk, partners involved, etc... Give us all the details.
Startup Help
Ronnie Springer
Re: LLC or Sole Proprietorship?
Kinsey, click on the "LLC" Tag at the bottom of the page, you may find some of your answers will be in those threads.
"To invent you need a good imagination and a pile of junk." Thomas Edison
Re: LLC or Sole Proprietorship?
Always be prepared, and protect yourself from potential risks by separating your company from your personal assets. At least that my motto.
Re: LLC or Sole Proprietorship?
I have found not one good reason to be organized as a sole proprietor ... in my opinion ... AND ASAP, get organized into an LLC or a CORP. It's just too risky and tax-foolish to be organized as a SP.
Re: LLC or Sole Proprietorship?
Thanks for the great insight guys. Next stop, the Department of Treasury Website!! lol
Re: LLC or Sole Proprietorship?
This may need to be a different thread, but is ebiz protection related
Is anyone getting any type of business insurance?
I am not too worried since I am solo act at the moment, but was curious if those adding a couple employees added business insurance. Thanks.
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