Llc??

Hey Guys,
Evan and I were wondering if we should start an LLC for our online business?

Have any of you done this?

Well, it never hurts to set up an LLC. It can help protect you from liability, and if formed under tax code like S Corp or C Corp, then it can help with tax stuff too.

If its just you and your husband though, and its not too big of a company, im not sure how necessary it is.

Really isn't necessary until one of three things occur:

1. Your business is substantial in terms of revenue or has employees (NOT outsourced or 1099 - actual W-2 employees)

2. You are promoting products that might put you at risk for some kind of liability lawsuit. For example, if you are selling vitamin supplements, or diet aids.

3. You have personal assets that are substantial and not having an LLC is going to keep you up at night. And you enjoy paying an attorney to do this kind of work (IMO, setting up a proper LLC is not a DIY project. If you feel so strongly that you need it, get it done right.)

Russell, C Corps are VERY different animals. they can actually lead to paying higher taxes as both the business and the owner are taxed separately. Definitely need legal and accounting advice before going through that decision.

Disclaimer: I'm not an attorney or CPA - but have been working with national accounting firms for years and owned my own businesses. And you'll find plenty of people who will disagree with my opinions (except maybe the requirement of finding an attorney to help you with the C-Corp.)

ty guys for your responses...Ive had a Corporation before wouldnt go that route again...