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Old 10th January 2012, 05:29 PM   #1
hlgomer
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Cool New To Business

Hi Everyone!

My husband and I are starting our own business (online) and were debating what type of business to start (i.e. sole proprietor, LLC, etc.). Does anyone have pro's and con's of each?

Thanks!
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Old 10th January 2012, 11:06 PM   #2
The Diamond Pen
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Hi! I, too, am new to business. I started a corporation (Inc.) due to the separation of corporate and personal assets from liability. However, the taxes are higher. I think of it as "protecting my house from a lawsuit insurance."

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Old 11th January 2012, 11:26 PM   #3
LizTheresa
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Hi there! I'm new too but just went through this debate. I'm currently declared Sole Proprietor but will be switching to a LLC to protect my personal assets. Depending on what kind of business too, you may need to consider insurance options. Typically, if you're serviced based, you'll need professional liability insurance and if you're a product-based biz, you'll need general liability coverage.

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Old 12th January 2012, 11:20 AM   #4
A to Z Roofing
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Welcome to the forum, you will get a lot more help if you post a separate thread with your question.

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