Would you like to start your own business but not sure if you should set up as a Sole Proprietor or an LLC?

Starting your own business can be an exciting journey. Of all the decisions that you must make
when starting your own business, determining whether to set your business as a Sole Proprietor
or an LLC can be tough. While both can be beneficial, so your determination should be based on
which will best benefit you and your business. Sole Proprietorship is a quick process and you are
a legitimate business. It’s a simple set up, a simple business name and doing the taxes are simply
as well. The negative side to Sole Proprietorship is that you have no liability protection. An LLC
is a statutory entity, this means that you must file a certificate of formation and pay filing fees to
set up the entity. The most beneficial use of a LLC is that it covers you from liability.