What Is The Single Member LLC?
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hart
Apprentice
Joined: 31 Jan 2005
Posts: 10
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 Posted: 10/21/07 - 08:10 Post subject: |
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| Hi. I am planning on setting up my own business. It will be just me... Recently I got into a discussion with some friends of mine. They suggested a single member LLC as being to best set up for my business. It is not entirely clear to me what this is. Can you clear this up for me? |
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carroll
Apprentice
Joined: 28 Apr 2006
Posts: 8
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| Posted: 11/20/07 - 01:36 Post subject: |
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| A single person has the option of forming a Limited Liability Company. This is a form of business in which the shareholders legally have a limited responsibility. That in your case means that should your business hit hard waters, it will not affect your personal finances. Personally I think this is one of the best set ups possible. |
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