Quote:
Originally posted by Amputate Your Head
I never understood the fascination that solo adult webmasters have with incorporating.... if you buy your content, the content is licensed. You have no workers, so there is no risk of personal bodily injury like say, a construction crew would have. What other possible extreme risk can there be for lawsuit that warrants incorporation?
I'll never understand.
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The reason to be anything other than a sole proprietorship or partnership is to protect your own personal assets. If you owe a business-related debt, your personal assets, bank accounts, etc, can be liened or seized. If you're business is sued your house, car, etc can be taken, frozen, etc.
An LLC is somewhat like an S-Corp with the pass through income, but an S-Corp requires that all 'stockholders' be US citizens.