sole p or LLC vs Incorporation ..

[fataltone]

sole proprietorship-a sole proprietorship is a business entity owned and managed by one person. The sole proprietorship can be organized very informally, is not subject to much federal or state regulation, and is relatively simple to manage and control.


limited liability company-a type of business structure that provides its owners limited liability.

Though it bears similarities to both, it is neither a corporation nor a partnership. Therefore, the owners of an LLC are not a shareholder or a partner. Rather, they are called members. Nevertheless, you can find in an LLC the combination of the best characteristics of a corporation and a partnership.

Incorporation-
The process of legally declaring a corporate entity as separate from its owners. Incorporation has many advantages for a business and its owners, including:

1) Protects the owner's assets against the company's liabilities
2) Allows for easy transfer of ownership to another party
3) Achieves a lower tax rate than on personal income
4) Receives more lenient tax restrictions on loss carry forwards
5) Can raise capital through the sale of stock




I have to say LLC all the way to homeplate..some say you should Incorporate right away and skip LLC all together so that's another option
which needs research and choose according to your business situation
....
last night I went on LegalZoom: Online Legal Document Services: LLC,Wills,Incorporation,Divorce & More and after going through the questions
this was what I ended up with


LLC

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shares what form of business you operate or plan to operate




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[intricatemindmusik]

great info..

 

[fataltone]

don't forget to vote click the the thread title that's in blue thanks for the props

 

[maarrkk]

Both businesses are best at their own places so we can not compare these two as sole proprietorship is a business for single person and that must be a small business whereas company the name implies it is owned by two or more persons and that is a huge business. In my opinion both are great at their own places.