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Sole proprietorship or LLC?

by newventures
2 replies
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Hi Warriors,

I am doing affiliate marketing and now need to open a biz account. Since my volume is that of a beginner, does anyone have suggestions on what type of account is more beneficial?
Does anyone know if I can start off as a sole prop. then change to LLC?

Thanks!
  • Profile picture of the author talfighel
    I would go with Sole proprietorship since you are new to internet marketing.

    Tal
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  • Profile picture of the author Michael Motley
    LLC/LLP creates another entity.
    Sole proprietorship is you.

    I belive in the u.s. the number is about 85% of all new businesses fail, so there's a good chance you will too. When you do, if you've got accounts that aren't paid and you can't pay them and all you have is a sole proprietorship, you personally are responsible. THat means creditors can and probably will come after you, your personal income and property to recoup their losses.

    If you have an llc or llp, they will come after 'the company' The company will also have its own tax id, that is to be kept seperate from yours. This has certain benefits as well. It doesnt cost much to start up an llp or llc, i think you can start one in deleware and vegas over the internet for under $100.

    LLC and LLP are virtually the same thing when it comes to the benefits of one vs the other. The only real difference is that another corporation can join an llc in a partnership, as well as individuals. In an llp, only individuals can join an llp in a partnership
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