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archy
Apprentice
Joined: 02 Feb 2005
Posts: 17
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 Posted: 08/24/07 - 05:26 Post subject: |
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| We want to start our own business this winter and we are not sure what to register LLC or sole prop? I am aware the sole prop functionates almost the same way as LLC but I need some more information on structure and taxation. Which structure is safer to start with and what is suitable for those who starts business on their own? |
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anders
Apprentice
Joined: 12 Aug 2006
Posts: 14
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| Posted: 09/29/07 - 02:43 Post subject: |
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| If you are starting business on your own then it is better to start as sole prop although LLC is treated as pass through entity or even as a sole prop which is one man business and is not registered with the state as a corporation or LLC. Sole proprietor is responsible for business related obligations and it every one can be sole prop without even knowing it. Depending on business you start I can suggest you, after all, that maybe LLC is a little better solution but keep in mind: LLC are taxed! |
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fred333
Apprentice
Joined: 31 Dec 2007
Posts: 20
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| Posted: 01/10/08 - 14:21 Post subject: |
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| I have found the LLC gives you a little more protection to your personal assets as well. I would do your research and even go to you state business sites. |
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