Limit the liability of the business from your personal assets.
With a sole proprietorship you don't have that protection and you and your family could be at risk for any business liability.
People see the company as more professional and may want to purchase a good or service from a more formal business presentation.
We can make the best decisions when it comes to tax strategy.
As an LLC we have the option to file as an LLC or an S Corp for the purpose of tax savings.
As an LLC you have to set up a business checking account used specifically for the business.
This helps create separation of business and personal expenses running through the same account.
It is very important to keep your business expenses separate from personal for bookkeeping purposes, personal expenses, and a possible irs audit.
Copyright © 2018 Brian L. Wade, MBA - Small Business Accounting - All Rights Reserved.
Powered by GoDaddy Website Builder