Should I form an LLC? Please help...
I was wondering if any of you have experience forming an LLC and if you think it's worth it for someone (like myself) that is an information internet marketer?
I have a couple digital information products out there currently and they are selling well. I expect to make pretty good money this year from my products (I do this full time).
But while I realize it's smart for businesses to set up LLC if they are selling physical goods b/c of potential lawsuits....I am only selling information/ebooks and I have no customer contact besides emails.
With that being said, are there any advantages to setting up an LLC for someone in my position (tax advantages, legal advantages, etc)?
I live in Florida (where there is no state income tax also)...but my businesses sell all over the world (on the internet) so I can file in any state to form my LLC. I've heard Nevada is a good place because they have no business income tax, franchise fees, capital gains tax, state corporation tax or inheritance tax...
Would creating an LLC in Nevada lower taxes then (maybe if I reinvested profits into new internet businesses)? Not quite sure...
How much money would my internet businesses have to earn to make it worth opening up an LLC in Nevada (or any other state) from a tax perspective? ...I'm mainly interested in saving on my taxes (not necessarily the limited liability part).
Thanks for any opinions you can provide. Also, please speak freely...I will only take what you write as opinion and not as legal advice. I will seek a lawyer for actual formation and advice...but I was just wondering what you all thought since you're in the same business as me!
Thanks a lot!
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