Limited Liability Corporation
a Business Structure that's supposed to be easier/cheaper than forming a C-Corp, so used often by a Start Up
service for creating one for you http://www.corporate.com/
http://danashultz.com/blog/2009/08/27/can-i-form-an-llc-without-a-lawyer/ - suggests using No Lo materials instead of a service
For a One Man Show, why bother (vs just doing Schedule C) (or, conversely, creating a true C-Corp)?
- Rob Walling doesn't bother, just does a Sole Proprietorship
- liability protection (if a customer sues you)
- but fair amount of work to maintain
- In terms of Liability protection, a One Person Llc has rather low odds of protecting you.
- profits can sometimes be shielded from Self Employment Tax (but only those not actually "distributed" to you - can be a separate RetirementSavings program)
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