Business:Management & Marketing
EP 40: "Which business structure is best for me?" A: Sole prop vs LLC vs S-corp
Depending on how much money or how many assets you have, you have a few choices
If you don't have much money or any assets, you can start as a sole proprietor.
You can start easily and cheaply, but you are going to be personally liable for any business debts.
If you have lots of money or a house, large brokerage account, or another investment asset, you should consider an LLC taxed as a sole-proprietor or taxed as an s-corp.
LLC is the easiest protected business structure to form and still protects you from being sued for business debts.
It is Free