Form a Corporation
Posted: April 17th, 2012 | Author: admin | Filed under: Business, Quick Blurbs | No Comments »Over the past weekend I have decided to move forward with forming an LLC (Limited Liability Corporation) for my design business Art Space. Currently I have a sole proprietorship and I got to thinking of the liability I now have with my business these days, especially now that I host several client websites, shopping carts and emails, plus my business is growing with larger clients. With an LLC established, this protects my personal assets such as my home and personal finances and keeps that out of the business.
With a corporation in place, you take the risk out of personal liability if your business were to get sued or go under. I highly recommend talking with an attorney and do this for your business.
For those that only do basic freelance, it would be a good idea to at least take out liability insurance. You can contact your local insurance agent and they can provide fairly low cost solutions for liability insurance. This could also be attached to your homeowners insurance too.
Go to the IRS website to learn more about an LLC.
