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Re: Three Tips from Two Accountants Who Know How to Manage Expenses


@Adam_Fenner wrote:

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.