When to Form an LLC: Entrepreneurs often ask me if they should form an LLC when establishing a new business, but there are other options like sole proprietorship and business insurance. #LLC #Business - http://createhype.com/when-to-form-an-llc/
Sole proprietorships are so easy to establish that you may already own one without realizing it -- all the more reason for getting set up properly so that you can make more money, minimize taxes, and avoid potential problems.
C Corporation is a group of individuals granted a charter, legally recognizing them as a separate entity with rights and liabilities distinct from those of its members. C corporation is liable for any debts incurred rather than the individuals. The taxes are split between corporate and shareholders at different rates.
As a creative, I have a soft spot in my heart for creative business owners just getting started. As a lawyer, I have a special pain in my side reserved for the times when someone brings up their sole proprietorship, DBA or partnership. It’s not that these three entities are inherently ‘bad,’ it’s just that there are such better options available now for almost no effort and a very low cost. Let’s take a little trek through each entity and find out why you might start looking into forming an…