Monday, April 21, 2014

What form of Business do you do and why did you choose it? -

What are positve asspects of your business?What are negative asspects of your business?

I assume you mean what legal form.Initially I started my business as a sole proprietor company. After about 5 years I formed an LLC to insulate me from liability.The LLC is ideal for a small business without a lot of employees. It is similar to an S chapter corp but is simpler for tax reasons. With the LLC, as long as you are the only member and it s not a prtnership, you can report your taxes on a chedule C of 1040. That makes it much simpler than a corporation which has to file its own taxes.

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