I’m looking to create a company for my consultant job. I’m looking towards a sole proprietor if I don’t liability protection. I need to find out more details before I can make a decision. Does anyone freelance here? Is it much better for tax deduction purposes?
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I’m studying this stuff for class right now! Most small businesses are Sole Proprietorships or Partnerships. Limited Liability Corporations have been on the rise recently… it all depends on what you what. I have a big chart in my textbook that compares/contrasts everything.
I can set up an LLC for you. Thats your best bet. For liability purposes, you are limited only to your investment in the company. For tax purposes, you can drop down the write-offs to your individual level.
In NY, there is a publication requirement which is somehwat costly, around $1200. Email me at cashmoneybrother@gmail.com. I am a NY admitted corporate attorney.