Running a business can be stressful, exciting and overwhelming all in one shot. Even if you have employees on the payroll who can help you, it can still be a difficult thing to do. No matter the type of business you have, it's important to look at all the ways you can protect it and yourself as the owner. Here are the benefits to creating an LLC for your business.
One of the biggest benefits of forming an LLC is that you will be able to protect the assets of not only the business, but also yourself. The LLC will protect the owner of the business from liabilities and debts since he or she is typically not responsible for them. The LLC prevents creditors from going after the personal assets of the business owner when trying to collect unpaid debt.
If you form an LLC for your independant sales consultant business you will likely experience an increase in credibility. Forming an LLC shows potential customers, vendors, employees and partners that you are serious about your business.
Taxes can be passed through a business that has registered as an LLC in Pennsylvania. This means that taxes will not be paid at the business level. Instead, they are passed through to the owner, who then files them as an individual. This means that if the owner has to pay any taxes, he or she does so at the individual level, not the business level.
There aren't many rules or restrictions placed on how many owners can be named under an LLC or who can register as an LLC, making it easier to file as this type of business.
Are you thinking of establishing your business as an LLC in Latrobe? Contact our firm to speak with an experienced business formation attorney about your business and how you can protect it.