Who are LLCs best for?

best LLCs
0
Posted

Who are LLCs best for?

0

Creating and maintaining an LLC may be more complex and costly than forming a sole proprietorship or partnership, but it may be worth it for your small business depending upon the type of work you plan on doing. Perhaps the main reason you would want to organize your business as an LLC is to shield yourself from any personal liability that may arise from your small business’ dealings. Organizing your business as a corporation or an LLC makes sense in two situations. First, if the business is engaged in a dangerous activity that makes it more likely to be sued, or if the business has the potential of racking up large amounts of debt, then a corporation or an LLC may be a good idea to shield the owners from personal liability. For example, if your business engages in a risky activity, like transporting toxic chemicals through urban areas, then you would probably want to shield any personal assets you may have from potential judgments against the company for a spill. Second, when the owne

Related Questions