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Sole Proprietor VS. LLC

    • 8 posts
    August 16, 2013 9:49 AM EDT

     

    you should never operate as a sole proprietorship.
     
    It is not difficult or expensive to incorporate or organize an llc.
     
    Plus, the irs audits sole proprietorships more frequently than other entities.

    Before the LLC was introduced sole proprietorships were popular because of all the requirements needed to keep

    to keep an incorporated company running. Ex. filings, meeting minutes, etc. It has taken a little while for 

    people to get out of the mindset of sole proprietorship vs inc option only but people are learning. In regards to the

    type of protection you can get from an Limited Liability Company, it really depends on the State where you plan

    to incorporate.

     

     

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    • 118 posts
    March 6, 2009 11:02 AM EST
    There are certain fees that are cheaper in other states if you incorporate elsewhere (Delaware is often regarded as a great state to incorporate in for this reason), but as Mark mentioned, you can`t avoid the state taxes.

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    • 5 posts
    March 5, 2009 5:55 PM EST
    Hello StartupNation Community,

    My wife and I are starting a Nanny Placement agency and are unsure of the business structure that would be best for us. Other than the "protection" that LLCs provide, are there any other differences between these two business entities?

    Thanks,
    Steve

    • 5 posts
    March 6, 2009 10:19 AM EST
    Thanks for the help.
     
    I live in California but want to avoid the tremendous amount of taxes from this state. Can you operate an LLC in a different state in which it is registered  like a corporation?
     
     
    • 331 posts
    March 7, 2009 1:10 PM EST
    forget about taxes, forget about all else....i am surprised you have not considered the liability aspect.  you are risking your bank account, car, house and your shirt if you are going at it solo...take advantage of the corporate veil and protect yourself!

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    • 331 posts
    March 8, 2009 5:59 PM EDT
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