In this new series, I wanted to give you short, practical tips for your business. I call this “The Business Minute”, and, as such, I’ll try and keep the videos short and sweet!
This week, an overview of LLCs, or limited liability companies.
Some takeaways:
They offer you more protection than a sole proprietorship
They can be fairly inexpensive to set up and maintain (depending where you are in the country), though still more expensive than sole proprietorship
You and the business is a separate entity, meaning the business would get sued if that ever happened, as opposed to you personally
It can make tax filing a bit easy, too
I hope this video helps, guys, and let me know if you’re thinking of switching to an LLC if you’re currently a sole proprietor.
Brad Behr
Copper Creek Cuts
UAG Council Member 2019
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