QUESTION
Should our cottage level cake selling be and LLC?
Asked on Mar 03rd, 2014 on Business Law - Virginia
More details to this question:
We make and sell cakes to friends and aquintances with an expanding client base. Expected gross income for 2014 is $5,000.
1 ANSWER
Assault and Battery Attorney serving Forest, VA
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In my opinion, yes you should become an LLC. The reasons to become a legitimate entity are many. If your business is expanding your liability is growing and there is now nothing to separate your personal assets from your business. Also, taking the time to become an LLC and consulting a business attorney will allow you to evaluate the viability of the business and its insurance needs.
Regards,
James Fairchild
NOTICE: This is a general answer based upon basic legal theories and does not create an attorney client relationship and is for information purposes only.
Answered on Mar 07th, 2014 at 11:11 AM