What are some of the advantages of organizing my business as an LLC
The advantages of organizing your business as an LLC are really twofold. One, you have certain tax elections where the tax code will disregard the LLC as an entity, and you will have flow through taxes. So you’ll be taxed as an individual and the corporation won’t get taxed and then you later get taxed on the same taxes, if that makes sense. So it makes a ton of sense from the tax side of it. And in terms of liability, which is a limited liability company. That’s really the bigger advantage which is you are not liable or obligated for the debts of the corporation for the contracts of the corporation etc. As long as you follow certain safeguards along the way.
