Should I Be a Sole Proprietor or LLC?

Should you be a Sole Proprietor or LLC? It depends...
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[@jaymay6386]

You make a great point. I'm starting a real estate rental properties, and I just don't see right now just starting to LLC. Because of business fees, business loans you have to pull out, and don't forget business taxes.
I'm just going to put my first property in my name and then get some great home insurance. Just pretty cheap houses in the Midwest it won't take long to pay up properties. Then I get an LLC

[@coachktasha_]

Thanks for watching. I do hear what you're saying but make sure you get the proper type of insurance for the home...which is commercial insurance because you're an investor. You can't just get general home insurance as if you were purchasing to live in the property - big difference. Because if anything happens to your tenant or one of their visitors while they're on your property...they can sue. That's the main reason why property owners mostly do it through an LLC, because you leave yourself at risk for so much. Also with an LLC, you can build up business credit separate from your personal credit and eventually qualify for even more property. But of course we all gotta do what we think is best for our situation. Wishing the best for you.

[@mlkjrb7448]

What about a consulting business in education ? Sole proprietor or LLC?

[@coachktasha_]

Hi thanks for watching. There’s pros and cons to both and the answer is not so much about what products or services you’re selling…the choice should be determined by what works best for your unique situation. If you would like my professional one on one guidance, here’s my calendar calendly.com/khardge and also you can find my LLC course at www.shop.hardgeconnections.com. Hope this helps.

[@Shvibin]

Is this a part of a longer class?

[@coachktasha_]

Yes ruclips.net/video/fIRCutqkixA/видео.html