Posted by Dave H (MI) on April 16, 2014 at 16:36:31 from (50.124.41.76):
In Reply to: LLC's posted by Gary H. on April 16, 2014 at 15:35:42:
I would listen to Moresmoke, your first response. That is real world advice. The rest are just repeating what they have been told or read on the internet from my perspective. I am not a lawyer. I am a CPA and I work with a lot of LLC's of different sizes. My wife is a former court reporter and currently deputy civil clerk. If you want legal advice you should find a lawyer with nothing to gain financially from the advice. If you have an incident that is going to lead to a lawsuit, the plaintiff attorney will likely name you, the LLC, your unborn children, etc and then wait for your attorney to make a motion in court to exclude you. Depending on the crackpot behind the bench, and realizing that the best lawyers don't become judges because the pay sucks, you may or may not be excluded. BTDT and seen it many times. Having said that...I would still do the LLC. Cheap to start up, might actually help you, sounds more professional and, if you keep it to a single member, won't change your tax picture...still on Schedule C.
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