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| To go LLC or not?; pros and cons | |
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| Tweet Topic Started: Mar 17 2011, 07:53 PM (334 Views) | |
| Trig | Mar 17 2011, 07:53 PM Post #1 |
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Beginner
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I've considered registering One-Stride as a LLC but I wasn't sure of the pros and cons of going LLC. Does anyone have any suggests/input from experience? |
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| eve | Mar 17 2011, 11:00 PM Post #2 |
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Settled In
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The main pro is that you will have liability protection in the case of a lawsuit. If you have a house, car, assets of any kind....you really don't want to leave yourself open to bad litigation results. With an LLC only your company's assets would be on the line instead unless you run your LLC in a bad way. Sole Proprietor and Partnership don't offer this protection. The con is you'll have to spend some money to set it up and spend some time learning how they work. I did a presentation on LLC Formation for last year's SIMINAR. You can find my presentation in that section of the forum.
Edited by eve, Mar 17 2011, 11:05 PM.
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