Do you own a small craft business? Did you choose sole proprietorship or an LLC?


It depends based on your long term goals. Sole proprietorship is the easiest to start but has some risk. Your personal assets may be used to pay off your business debts if there are any legal issues.

For this reason, many choose LLCs. There is an additional advantage of incorporating LLC with S tax election that has many tax benefits.

** Based on our response to a post on quora

Posted In: Company Formation

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