View Single Post
Old 11-19-2008, 01:16 AM  
d-null
. . .
 
d-null's Avatar
 
Industry Role:
Join Date: Apr 2007
Location: NY
Posts: 13,724
Quote:
Originally Posted by PowerCum View Post
Do you have belongings that are worth more than 5k euro/USD?
If the answer is "yes", then go LLC. Otherwise don't.

For example, if you own a house then you SHOULD go LLC.
Without LLC you are liable for payments with everything you own (your home included) in case of legal problems. With a LLC you are liable with nothing. In exchange the LLC is liable with it's belongings and the money it has in the bank.
Of course, if you are smart enough, your LLC will have practically no money in the bank because it will have to pay you a huge salary.

Ask a lawyer about that. It's not about if you make money or not, but how much are you worth. you cannot get money from someone who has no belongings, but if you have your own house and somepone sues you without you having a LLC you may end living on the street.
this is good advice, an LLC is good protection for your whole net worth even if the porn biz is just a small fraction of what you have going
__________________

__________________

Looking for a custom TUBE SCRIPT that supports massive traffic, load balancing, billing support, and h264 encoding? Hit up Konrad!
Looking for designs for your websites or custom tubesite design? Hit up Zuzana Designs
Check out the #1 WordPress SEO Plugin: CyberSEO Suite
d-null is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook