LLC or Inc.?

[Shannah]

Trying to decide between LLC or Inc. Which route did you take and why?

[Jen Scanlon]

Hi Shannah,

I went the LLC route with my company. Think that it makes the most sense for your business if you are doing it yourself.

[Sarita Thomas]

Hi Shannah,

I think it depends on the type of your business, the assets involved and if there are any employees. I went with an incorporated status because my business is a home staging and redesigning company with no actual assets. Therefore, I think the tax benefits would work best for me in this situation.

[Gail Klanchesser]

I started as a Sole Proprietorship and after a really good conversation with my insurance agent I am currently switching to an LLC. Because I provide instruction I have to carry professional liability insurance and if I was ever sued all my home assets would be vunerable. Due to my husbands career everything is in my name, so it wasn't worth the potential risk. I do not have employees and only a small inventory of supplies.