Setting up Shop

Discussion in 'General Shop Talk' started by Efergoh, Oct 12, 2007.

  1. Efergoh

    Efergoh TPF Noob!

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    Officially that is...

    Paying taxes and what not like a productive citizen...

    I'm torn between sole proprietorship and an LLC. Anyone wanna school me and the pros and cons?
     
  2. Patrice

    Patrice No longer a newbie, moving up!

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    If you're going to be selling your services I'd recommend doing it above board. The consequences of the tax man finding out you withteld his due can be a bit uncomfortable. It is perfectly legitimate to operate a sole proprietorship, just keep good records and give the taxman his due.
     
  3. Jeff Colburn

    Jeff Colburn TPF Noob!

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    This is the kind of question to ask a lawyer. There are far to many variables to answer this question here, and a wrong choice could cost you thousands, and not offer the kind of protection you need.

    Have Fun,
    Jeff
     

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