I am planning to start a small business - just me (PR, marketing) - any advice - what to do first?
I am a PR, marketing consultant and a writer. I already have a few clients and I am told it makes sense to start an LLC. Can anyone share the pros and cons? I just want to continue as a sole practictioner (consultant) and I'm not planning to hire people or start an agency...Help please!
Public Comments
- One of the benefits of LLC is that it does not have double taxation unlike corporations, while shielding your person from liabilities of the business (lawsuits for example will go after the business assets, not personal assets like a sole proprietorship). Check with your state if they will allow a one-person LLC. Here are some resources that can help you decide on your business structure: Choosing Your Legal Structure http://www.powerhomebiz.com/vol3/legalstructure.htm Choosing an LLC Structure for Your Business http://www.powerhomebiz.com/vol33/llc.htm LLCs vs. C Corporations http://www.powerhomebiz.com/vol97/llcs.htm S Corp. vs. LLC: Which Structure is Right for Your Business http://www.powerhomebiz.com/vol136/structure.htm LLC FAQ http://www.nolo.com/article.cfm/ObjectID/ED01121A-B4BF-498A-8BC0DBD121A0C869/catID/1745D9A3-D50D-4AAD-BFB3ED609A4EE3F5/111/FAQ/ Here's a sample Operating Agreement for a 1-person LLC http://laweasy.com/forms/operating_agreement_for_one_llc_member.pdf
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