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hlgomer 10th January 2012 04:29 PM

New To Business
 
Hi Everyone!

My husband and I are starting our own business (online) and were debating what type of business to start (i.e. sole proprietor, LLC, etc.). Does anyone have pro's and con's of each?

Thanks!
PuNk

The Diamond Pen 10th January 2012 10:06 PM

Hi! I, too, am new to business. I started a corporation (Inc.) due to the separation of corporate and personal assets from liability. However, the taxes are higher. I think of it as "protecting my house from a lawsuit insurance."

LizTheresa 11th January 2012 10:26 PM

Hi there! I'm new too but just went through this debate. I'm currently declared Sole Proprietor but will be switching to a LLC to protect my personal assets. Depending on what kind of business too, you may need to consider insurance options. Typically, if you're serviced based, you'll need professional liability insurance and if you're a product-based biz, you'll need general liability coverage.

A to Z Roofing 12th January 2012 10:20 AM

Welcome to the forum, you will get a lot more help if you post a separate thread with your question.


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