To Form an LLC or Not?

Anytime you're doing business you should form a company of some type. It keeps you and your business's liability safe. In Kansas for example your home is protected from any suite filed against any company you own. You have to think about the long term risks of business in general. I have owned, and currently own, an LLC. You avoid double taxation, can add partners etc. If you don't like the looks of an LLC, look at an S-Corp or LLP (limited liability partnership.) just do your homework now and avoid big time risk down the road.

I don't know your situation and every situation is different.

We opted for LLC after speaking with our Legal and Tax counsel.
What works for you might not be what is working for someone else.

My suggestion is to have good legal and tax counsel just to make sure you fit within all perimeters of the tax law.

My mum's properties are all LLCs. I don't believe they afford as much protection as one might want...but, to my knowledge, they're much better than nothin'.

I would talk to an attorney that does filing for LLC's. They are going to be able to tell you all the ins and outs of the law in your situation.

When I owned my own child care center with over 50 children enrolled there is no way I would have not been an LLC. If someone got hurt on my property they could sue me and the judgement could have taken everything I personally owned as part of that settlement.

I got plenty of tax breaks as a small business. Just because you run a small business it is still in your home so you still get to file for lots of extra's on your taxes, your phone is your business phone, your utilities are used by the business so a percentage of them can be claimed on the taxes, all sorts of things like that.

If you are using your home to run a small business you get a LOT of stuff taken off.

So I would make an appointment with an attorney who does that is an expert in that area. Then I would make an appointment with an accountant who does taxes for people who own LLC's to see what his/her advice would be. Which way is better for the person in this particular situation.

This way you have the advice of 2 different experts and can make a better judgement call than just based on the advice of one single person who may or may not have a bias against small businesses for some personal reason.

She may have also been right on track but you can't make financial and personal decisions based on just one other persons advice. Do some research and find what's best for you.