Per my knowledge through my mentors
and my CPA, you should be an LLC
to protect your personal assess from
your business assess. This the number
one reason to be LLC.
I do believe there are differences with
taxes, but that would be something you
would want to discuss with your CPA.
Inquire with your CPA and if they`re not
providing you with direction, you may want
search for one you feel that is knowledgeable
and has your best interest at heart.
I was referred to an AWESOME CPA who
I feel comfortable with and who is very savvy.
Won`t Be Denied!
Lighting 1,000 Dreams Worldwide
RicDee, as it was noted already LLC provides substantially better legal protection than a Sole Proprietorship.
From the tax point of view, a member [of a single member LLC] files the very same schedule C that a sole proprietor would file and the net income from of the business will be subject to the same taxes: income tax (after aggregation with other personal income, if any, on form 1040) and self-employment tax.
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