Updated: Jan 11
Wondering if an LLC will benefit your business? Keep reading to learn more!
1️⃣ Protecting your personal assets
Small businesses, whether they are sole proprietorships or partnerships, can benefit from the limited liability protection offered by corporations without the complexity and expense.
2️⃣ Tax benefits
There is also the tax benefit to an LLC. This is particularly true with “C corporations,” which the IRS recognizes as independent entities. Taxes must first be paid on net income to a corporation before that income is distributed to the owner, where it is taxed again at an individual level. This is known as double taxation, which you can avoid entirely with an LLC.
3️⃣ Make your business official
An LLC can also make your business look more professional to any potential customers, since your business is now a legal entity.
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