Are you currently doing business as a sole proprietorship or partnership? If so, have you considered switching to a limited liability company (LLC)?
For most small and mid-size businesses, there are good reasons to prefer operating as an LLC rather than as a sole proprietorship or partnership.
Sole proprietors and partners are personally liable for all their business debts. Operating as an LLC or corporation will limit your personal liability for these debts, so either can be an appropriate choice.
So in choosing between a corporation and an LLC, why do most businesses and their lawyers lean toward an LLC? For one thing,
