Better with BetterLegal.
Filter reviews by
WHY SET UP A BUSINESS ENTITY?
Do you need a separate entity (LLC/corporation) for your business? Why not just be a sole proprietor?
Better Protection
Entities are typically protected against personal liability for business debts and other liabilities. This means creditors can’t collect your personal assets or the personal assets of your managers to pay business debts and judgments.
Potential Tax Benefits
There are often significant tax savings that can be realized by setting up a separate entity. To begin with, it's simply easier to separate your deductible business expenses from your non-deductible personal expenses.
Deal Certainty
With a separate entity and a good Operating Agreement (LLC) or Bylaws (Corporation), the owners and managers of your business all know what their deal is! No more wondering who's in charge, who owns what percentage of the business, etc.
Legitimacy
People tend to see a separate entity such as an LLC or corporation as a more legitimate business than a sole proprietorship. It shows that you take your business seriously and have taken the right steps to protect yourself and your company.
Learn How to Start an LLC in Every State
Important Disclaimer:BetterLegal is not a law firm, nor is it a substitution for a law firm or an attorney. BetterLegal strives to facilitate the process by which individuals set up their businesses, but we do not and cannot provide legal advice, explanations, options, opinions, or recommendations about legal rights, remedies, business structure and operations, use of business and legal forms, or general business and legal strategies. While your communications with us are protected by ourPrivacy Policy, they are not protected by the attorney-client privilege. Your access to and use of this website is subject to ourTerms of Use.
© BetterLegal Inc. 2024