Anyone else her start an LLC to offer training as an individual? I'm considering it.
TD
TD
Anyone else her start an LLC to offer training as an individual? I'm considering it.
TD
Why? If you are the one providing the training, the llc will do nothing to shield you from liability. If you have employees or partners in the venture, an entity may provide benefits. Spend the money you would waste on filing and legal fees to buy higher limits on your business liability insurance.
I agree. Sole Proprietor would likely suit you better from a $ standpoint until you grow, then re-evaluate.
This is the advice I received from a my Tax Gal
There are good and substantial reasons to form a corporate entity.
Two that come to mind are signing a lease or securing credit.
Every lease and bank account I ever had for newly formed single member LLCs I had to guarantee personally. A couple of years in, if the LLC has shown consistent income and assets you can get a new bank or a new landlord to enter into the agreement with the LLC only.
As mentioned its important to remember that no corporate entity will shield you from liability from your own negligence. People think that having an LLC or corporation gives them some magic shield from liability. All they do in this regard is protect you from being personally liable for the actions of other members of the organization. An LLC costs $300 a year to maintain with the state of Maryland. You'd be better off putting that money towards an insurance policy.
But then maybe I'm just an exceptional negotiator.