Re: Three Tips from Two Accountants Who Know How to Manage Expenses
I appreciate the idea of putting it into a real value for whether or not to file as an LLC or stay a sole proprietor. That is really helpful for people on the fence.
I fail to understand this point at all.
An LLC is nothing more than a state registration that provides the company with legal protection, isolating your personal assets from a judgement. It is not a business type.
Any sole proprietor or partnership can be an LLC and it changes nothing. Some states even allow an s-corp to file for LLC, even though the s-corp already provdes that personal asset protection.
in reference to the original article ....
I ran the numbers for my partnership, and the statement that you save money as an s-corp is just not true as a blanket all encompassing rule.