Creating a limited liability company (LLC) for your business enables you to establish a legal presence and gain valuable protections. An LLC is a legal formation that helps separate your personal assets and liabilities from your business.
There are numerous benefits to forming an LLC, including creating a separate legal identity, reducing liability, and allowing your business to go on in perpetuity, with some limitations. LLCs, compared to corporations, are easier to manage with more flexible management structures and with far fewer required compliance steps.
There are some limitations to an LLC formation, though, including the fact that it costs more than to maintain a sole proprietorship.…Continue reading