Incorporating
Out of context: Reply #1
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- Boz0
LLC has it's tax advantages over plain DBA or sole proprietorship. It's also much more professional doing business as LLC (or official business), but basically LLC gives you more security. If you get in a lawsuit with LLC your personal assets cannot be touched, unlike with sp.
Basically it boils down to this:
If you are doing business with bigger clients, you have a lot of work and the chances of getting sued rise, you are obviously playing a dangerous game if you remain a sole proprietor. With LLC of course you are still a type of sole proprietorship, only this is called sole membership (if you are the only member). Depending on your revenue you might want to ugrade from LLC to Inc. but the amount of paperwork rises proportionally as well as costs of accounting, but again with Inc. you have even more tax loopholes and benefits.Yes and I am an LLC as well.