Can you start a business without LLC or INC?

Is it possible to start a business without incorporating as an LLC or INC?

Ofcourse, yes. Infact LLC has gained popularity the last few years. Its definitely possible to start your business as a sole propreitor after you review the pros and cons of incorporating.

 

Please note that as a sole propreitor all your personal assets will be liable to pay business debts incase of a lawsuit or if there are any tax liens.

If you incorporate, you are adding an additional layer of protection and sheilding your personal assets. Also, certain business types like S Corporations and C Corporations can offer significant tax advantages if you incorporate.

 

Therefore, consult with a tax professional and attorney for legal/professional help


Posted In: Company Formation

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