At least in Missouri, when you become an LLC, your personal assets are separated from your LLC assets and aren't legally available for suit actions. That's the reason I did it.
Cheers. ________________________________ From: Webster [mailto:[email protected]] Sent: Saturday, February 21, 2009 1:21 PM To: NT System Admin Issues Subject: RE: Incorporate, LLC, or ??? From: Stephan Barr [mailto:[email protected]] On Behalf Of lists Subject: RE: Incorporate, LLC, or ??? My accountant tells me the deductions are the same/similar as LLC as sole proprietorship are same/similar in Missouri. So what is the point of going the LLC route? If you take out a loan, you sign personally to guarantee the loan. If you take out a lease, you will sign personally to guarantee the lease. Unless you have a lot of assets to protect, what is the point of becoming an LLC? If you don't do all your LLC paperwork and record keeping in order, there is no corporate veil to cover your ASSets. Seems like you are throwing money to lawyers and accountants when you should be buying more RAM, more storage and faster processors! :-) Webster ________________________________ From: Webster [mailto:[email protected]] Subject: RE: Incorporate, LLC, or ??? From: Stephan Barr [mailto:[email protected]] On Behalf Of lists Subject: RE: Incorporate, LLC, or ??? LLC here. Do it; it's cheap and easy and then you can deduct lot's o stuff. Can you give me one example on what you can deduct as an LLC that you can't deduct as a Sole Prop.? ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~
