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Old 2007-10-20, 10:57 PM   #1
papagmp
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Depending on the state, an LLC may offer enough protection for the type business you are entering. I would never operate a business in my own name with no legal separation between my home and my business. I currently have 7 LLC's and 3 INC's – most turn a profit. The various structures have both legal and financial ramifications so sit down with your attorney and accountant and decide which is best for you. If you don’t have an attorney and account, get one – if my memory serves me properly, the SBA claims that 85% of the businesses that fail, do not have proper legal and financial advisors.
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Old 2007-10-20, 11:32 PM   #2
SheepGuy
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I'm not in the US but what papa says is true and is just common sense.
Cover your ass if you plan on making money.
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Old 2007-10-21, 12:00 AM   #3
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Quote:
Originally Posted by SheepGuy View Post
Cover your ass if you plan on making money.
Sure SheepGuy, now just practice what I preach - - Please!

ROTFLMAO
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Old 2007-10-21, 01:19 AM   #4
SheepGuy
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Quote:
Originally Posted by papagmp View Post
Sure SheepGuy, now just practice what I preach - - Please!

ROTFLMAO
I have beers with my lawyer at least twice a week, and my accountant every 3 months or so. I'm cool.
LOL! Occasionally I do have to air my ass out though
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