How do we decide if we should incorporate or set up an LLC for our adult day care business?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do we decide if we should incorporate or set up an LLC for our adult day care business?

My wife and I own our home and plan to service 1-15 clients and hire 1-3 employees either full and or part-time.

Asked on October 23, 2014 under Business Law, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Please go and speak with an accountant and an attorney about this in person.  Are you planning on doing the day care in your home?  Make sure that zoning laws allow you to run such a business and what the state licensing requirements are.  There are also Department of Health requirements.  A corporation shields assets from liability.  An LLC limits liability to assets of the corporation.  There are different tax structures as well. This is way to important to your financial well being to decide on your own with limited information.  Good luck.

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Please go and speak with an accountant and an attorney about this in person.  Are you planning on doing the day care in your home?  Make sure that zoning laws allow you to run such a business and what the state licensing requirements are.  There are also Department of Health requirements.  A corporation shields assets from liability.  An LLC limits liability to assets of the corporation.  There are different tax structures as well. This is way to important to your financial well being to decide on your own with limited information.  Good luck.

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Please go and speak with an accountant and an attorney about this in person.  Are you planning on doing the day care in your home?  Make sure that zoning laws allow you to run such a business and what the state licensing requirements are.  There are also Department of Health requirements.  A corporation shields assets from liability.  An LLC limits liability to assets of the corporation.  There are different tax structures as well. This is way to important to your financial well being to decide on your own with limited information.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption