After reading this article on this website it's made me question whether or not it's a good idea to become a single-member llc.
Here's the article:
She mentions giving a family member or friend a piece of your company just to register as an official 'partnership LLC'
The only thing holding me back from actually doing this is the fact that I'm building an internet based consulting/educational company. I feel like there isn't much I could be sued for but I could REALLY be wrong in that assumption.
Would it be worth giving a piece of my company to one of my parents to become a partnership LLC? I know the world is sue happy so I'm a little afraid that the LLC won't protect me as a single member LLC since I'll be considered a sole proprietor in the IRS.
I'm just confused, do you guys know which option would be better?
Thanks for your help.