Mr. Hyre (Ohio)(business Formation) - Posted by John (Wisconsin)

Posted by JHyre in Ohio on November 29, 2000 at 19:37:50:

Being a sole proprietor is generally a bad idea because you have no liability shield. If an employee hits a child- or one of your mobiles burns with someone in it- you stand to be sued, maybe even lose the suit. At that point, your personal assets are subject to seizure- NOT a good thing. That’s why incorporating or organizing an LLC is a good idea for most busunesses…you then have some protection against lawsuits.

In addition, using a corporation MAY save you some serious tax dollars…really depends on your circumstances…income sources, amount, personal expenses, etc.

John Hyre

Mr. Hyre (Ohio)(business Formation) - Posted by John (Wisconsin)

Posted by John (Wisconsin) on November 28, 2000 at 09:41:26:


I was wondering if it would be better to start the M.H. Business as a sole Proporietorship instead of an L.L.C. I know it much easier to set up a S.P. compared to an LLC. Could you give me some advice as to which way to go…

John C. (Wisconsin)