Limited Liability Company

[AnnaXOX]

Next Saturday I will complete my last thirty minutes of internship.  I plan to open my business at a salon in July.  My question is about ownership.  How many of you that own your own business opted to be a limited liability company over sole proprietorship?  I have read and re-read the advaneforum.xxxes and disadvaneforum.xxxes over and over yet I can not make a decision on this.  Please let me know what you think.

 

[Lora S]

Limited Liability Company

This link should help you out.

Business Question
http://www.massageplanet.com/forum/viewtopic.php?t=1248

 

[Legend Destroyer!]

I was told by my accountant that because I ws working out of my house that I was better off tax wise to be a sole pro.  a LLC is better for mutliple employees and if you are getting loans to start your buisness.  

 

[Pompal 09.]

Limited Liability Company

when starting out, a sole proprietorship is best. its when you have been doing your business for a few years and you have more to lose in an incedent, that is when the LLC is good to get (you dont need to have a partner in CA - of coure all states are different).

 

[Moe]

I agree.  Start out with a sole proprietorship while you're getting your business up and running.  As your business grows, you'll want to reduce your personal liability, and can switch to an LLC.  I agonized over this for some time, but realized that there's no need to.  You're not locked in once you choose one.  Start only with what you need.Good luck to you!

 

[jeffrey]

Thanks to all of you for your response.  I have had a time with this decision.  I will follow your advice and again thank you for helping me.

 

[iris_ankur]

Limited Liability Company

there are a few different types of corps you can choose formI went with an s corp.do keep in mind that once you become a corp.all of your prof. fees will go upmeaning it will most likely cost you more for att., act, and suchbut it's still worth it just thought you should know