| When you combine a corporation and a partnership, | | | | competition, so you have to make sure that you come |
| you get a limited liability company. This business | | | | across to the customers as a business that they want |
| structure is a great choice for small business owners | | | | to spend money with. Anybody can call themselves a |
| as it has many of the benefits of both a corporation | | | | business, so by having a structure to your business, |
| and a partnership, while being a superior choice to | | | | you are inspiring trust in your customer base, making it |
| being a sole proprietor. | | | | more likely they will want to do business with you. |
| Below are just 5 of the many reasons why an LLC | | | | 4. Simplify operation - While a corporation can give you |
| might be right for your situation: | | | | many of the same benefits, there are often annual |
| 1. Personal liability protection - Probably the most | | | | reporting requirements with a corporation that aren't |
| compelling reason to use this form of organizational | | | | usually there with a limited liability company. An LLC |
| structure is to benefit from the personal liability | | | | gives you the simplest operations while still giving you |
| protection offered by a properly setup limited liability | | | | the benefits you need as an entrepreneur. |
| company. As a business owner, you are exposed to a | | | | 5. Low cost - When you form your business entity |
| greater risk of lawsuit then you would be otherwise, so | | | | online, it will not cost you a lot of money so it is within |
| you can use this business structure to shield your | | | | reach of most entrepreneurs. Also, there is no ongoing |
| personal assets from a lawsuit brought against your | | | | yearly costs to run your LLC, so you are looking at |
| company. | | | | just a one-time fee. |
| 2. Income tax handling - This form of business offers | | | | If you are an entrepreneur, then you really need to |
| you choices when it comes to handling income taxes | | | | consider forming an LLC so that you can receive the |
| that you do not have as a sole proprietor. It should be | | | | many benefits that this business structure offers. Any |
| the goal of all entrepreneurs to be as smart about | | | | serious business owner understands the importance of |
| income taxes as possible, so consider the right | | | | choosing the correct structure, and a limited liability |
| organizational structure to assist with this matter. | | | | company may be right for your situation. |
| 3. Inspire trust - Most every business will have | | | | |