What form of ownership?

[bluesmap]

New York

i have been fixing computers for some time now. i was approached about being contracted to do alot of work during the next 6-12 months for a few companies.

i want to form a business and wondering if it would be easier to form an LLC or if i should just incorporate in my name and get a business license that way?

can anyone suggest what would be easier to start up?

thanks

 

[FlyingRon]

Your other option is to just continue as a sole proprietorship, you can register a ficticious name (d/b/a) if you want to name the entity something other than your name.

What are you trying to accomplish by the LLC/incorporation? Unless you've got employees, or are borrowing or otherwise running up credit, etc... I'm not sure what you need it for.

 

[bluesmap]

im basically looking to seperate myself from my business and have business credit seperate from my own credit. i dont know if an LLC is best for this. eventually i will be borrowing to expand my business but i dont forsee that happening at least for another 12 months at which point i will need hire at least 2 to 4 people to help with the work load (but that's not for another year i think)

someone told me i should form an LLC but im also not sure why other than it shields my personal assets. but i would at least like to have a seperate bank account and business credit. everything else i can deal with at a later time when i expand

 

[Antigone*]

im basically looking to seperate myself from my business and have business credit seperate from my own credit. i dont know if an LLC is best for this. eventually i will be borrowing to expand my business but i dont forsee that happening at least for another 12 months at which point i will need hire at least 2 to 4 people to help with the work load (but that's not for another year i think)

someone told me i should form an LLC but im also not sure why other than it shields my personal assets. but i would at least like to have a seperate bank account and business credit. everything else i can deal with at a later time when i expand

When obtaining business credit (especially in this economic environment) please know that you will be asked to provide personal guarantees. The lenders will also look at your personal net worth as well as basis for any credit decision. Having said that you might want to seriously consider what Flying Ron stated and list all the pros and all the cons before you decide.