by sbriggman » Tue Sep 02, 2014 5:29 pm
Yea, the main drawback of a sole proprietorship is that if a company or individual sues your company, your personal assets are liable. If you have an LLC, only the assets of the company would be liable. Basically someone can't take your house if they sue you under an LLC. It varies based on the state, but for my state, the paperwork was relatively easy, but it's a $500 per year fee.
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