Quote:
Originally Posted by BMW E90
you should talk to an accountant or someone in that field. The main difference between an LLC and sole prietorship is that LLC protects you from unlimited liability. It allows you to run things pretty much like a sole proprietorship. S corporations are a good choice as they are similar to an LLC. However, operating as a corporation requires a bit more work (to file and to run as a business). Basically if you think that you might get sued later then form an LLC. if it's a pretty safe business then a sole proprietorship is fine.
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i spoke to a cpa....
over the course of the discussion i was explained, in terms of legal situations, the business structure is only as good as the insurance that covers the business....there are financial advantages (and disadvantages) on business structure depending on factors...(number of employees, estimated revenue etc) but whether you are an llc or sole prop or corp, your business insurance will cover you butt in a lawsuit more so then that actually structure....