Self Proprietor vs LLC for photography business

11 years 3 months ago #272717 by Fiona
You business savvy people, I would appreciate your opinion on which you would set up you photography business as: LLC or Self Proprietor. New year comes new changes and this happens to be one I wanted to look at. Would you set your company up as a LLC?

Any person thoughts or experiences would be appreciated.


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11 years 3 months ago #272735 by P2CDude
Well, by definition, a LLC is a Limited Liability Corporation. This protects you and your estate from potential litigation vs running your business as a Sole Proprietor. If you have client who slips and breaks a hip or suffers an injury during a session and you're a SP...you can pretty much just call up the bankruptcy attorney right there. If you have an LLC, they can go after that entity, but your estate/home/personal wealthy is protected...so long as you abide by the rules of running the LLC correctly...

While Alive...Live....If you Love It...Print it!
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11 years 3 months ago #272737 by garyrhook
:agree:

As I'm just starting out, everyone that I've had this conversation with has emphasized the LLC. Budget-wise, it was easier to start with an SP, but my goal this year is to create an LLC and transfer my DBA to it.

Gary

www.grhookphoto.com
facebook.com/grhookphoto


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