QUESTION
Should we open an LLC or corporation if we want to open another business? How?
Asked on Jun 26th, 2015 on Taxation - Ohio
More details to this question:
We currently have two businesses that are sole proprietorship and looking to open another. Which would be the best way to go? LLC or corporation?
2 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Every business should be in a separate LLC or corporation. So if one business has financial problems, that business can be shut down without affecting the other businesses.
Answered on Jun 29th, 2015 at 3:03 AM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Mankus & Marchan, Ltd.
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Consult with a CPA or tax attorney to consider the options.
Answered on Jun 29th, 2015 at 3:03 AM