What is the name of your state (only U.S. law)? California
I have a question about how to register my business. I'm strapped for cash and have minimal personal assets (less than 10k worth). I'm single & in my 20's so there are no other bank accounts tied to me - no children or wife involved. I'm starting a business for a workout plan which will be sold mostly online. Because there is a lot of running involved, its understandable some people may get injured...and although I will have many warnings and clauses which people must agree to, in the end I may get sued. A) I want to make sure I can't get sued for more than I'm worth (worse case scenario would be that I lose everything B) what the best type of business would be for me. From what I've read it looks like it will be an s-corp or sole prop. I live in CA so the corporate taxes are around $800 annually which I am trying to avoid. have looked into setting it up in Nevada too. Please help?!
I have a question about how to register my business. I'm strapped for cash and have minimal personal assets (less than 10k worth). I'm single & in my 20's so there are no other bank accounts tied to me - no children or wife involved. I'm starting a business for a workout plan which will be sold mostly online. Because there is a lot of running involved, its understandable some people may get injured...and although I will have many warnings and clauses which people must agree to, in the end I may get sued. A) I want to make sure I can't get sued for more than I'm worth (worse case scenario would be that I lose everything B) what the best type of business would be for me. From what I've read it looks like it will be an s-corp or sole prop. I live in CA so the corporate taxes are around $800 annually which I am trying to avoid. have looked into setting it up in Nevada too. Please help?!