Do You Really Need an LLC?

getting started 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.

 

 

Key Takeaways

  • 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

 

Resources Mentioned

 

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