Do You Really Need an LLC?Oct 04, 2022
What is an LLC and why do you need one? How is this better than a corporation? This episode covers the 4 common types of business entities small business owners can choose from and the pros and cons of each one.
- There are 4 main types of business entities small business owners can choose from: sole proprietor, partnership, LLC, and corporation
- Sole proprietorships and partnerships provide zero liability protection - if you get sued, your personal assets are at risk (house, car, savings, retirement accounts)
- Forming an LLC is the best and simplest way to protect your personal assets (house, car, savings, retirement accounts) from the risks of doing business
Thank you so much for listening! If you enjoyed this episode, please reach out and let me know by sending me a DM on Instagram @artfulcontracts
Here are a few other steps you can take to support the podcast:
Watch the free masterclass
If you are an online business owner who’s ready to take the guesswork out of the legal aspects of your business, watch my free training to learn how to legally protect your online business without spending thousands of dollars on legal fees. Let’s get the legal stuff covered so you can grow your business with confidence.