Advice needed on how to register

[ryan]

I'm planning on registering as a home business but I'm not sure whether I should do it as a sole proprietorship or an LLC.

The details:
* my business will include anything I do where I may make money: web design, freelance writinger, etc., but it will mainly cover my music production/very small record label as well as a new online broadcasting venture I'll be starting soon.

* I will be the only one involved -- there will be no one on the payroll.

* This is expected to be mainly a low-income venture -- I don't expect to make much (if any) profit. It's more to just make sure that when I sell things, broadcast, etc. that I'm doing it legally.

I don't expect there to be any instances where I'll be sued (I'm purchasing the appropriate licenses from BMI/ASCAP for broadcasting, etc.), except for perhaps with the music production part of my business. My music is sample-based, though the samples are often extremely small (1 or 2 seconds long) and frequently distorted or filtered in such a way that they're unrecognizable. But, the potential is there to be sued, which is why I'm questionable about sole proprietorship.

What would be the adviseable route to take?


Thanks... Ryan

 

[Tracey]

Get some library books on incorporating your business. They will discuss the different business forms and pros & cons of each. I favor an S-corp or LLC, but they are more expensive to set up and require more time to maintain.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.