Sole Proprietorship or LLC?
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Sole Proprietorship or LLC?
I’d like to start renting out some large marquee type letters for use at wedding
receptions or as props for photography. I don’t expect to get rich doing this
but I do have a fear of the venue catching fire and it being traced back to my
lights Essentially this would be a very tiny business, but I do want to be
certain I am in compliance with all tax laws. Just starting out, can I just do a
sole proprietorship?
Asked on April 2, 2019 under Business Law, Pennsylvania
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You want to do an LLC. The cost and paperwork involved is small, but having an LLC will protect you (you home, money in the bank, car, any income you get from other sources) from the vast majority of business-related liability, such as the sort of situation you describe. The minor cost and effort is well worth the protection.
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