Coporation or LLC?

[BusinessAdviser]

Dummy's Guide to LLCs is pretty good too actually for a basic understanding.

[JaytheCreative]

People, please, lets restrict the personal attacks.

If someone provides inaccurate information, or there is misunderstanding or miscommunication, there are professional and educated ways of addressing these without trying to humiliate or discredit each other.

This site is an essential source for all members of Young Entrepneur.com, and what makes this site great is the opportunity to discuss, debate, and recieve information.

Be respectful, civil, and professional. Thanks.
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Now, with my experience with business develop, my personal feelings are, for the needs of most small businesses, LLC's and LLP's are the most fit for taxation, legal, and financial needs.

The need for liability coverage is one of the most important aspects of developing and operating a business, whether it provides a tangible or intangible product or service to the world. The structure type of business (C-Corp, S-Corp, LLC, LLP,...) are only one part of the puzzle.

When protecting yourself against liability, you also need: A) a competent, experienced, and expert team behind you (legal advisor/attorney, physician, CPA, etc.) B) well-researched in the legal and other requirements of the industry relevant to your business (including any proper licensing) C) A prominent Code of Ethics D) a business plan with preventive measures to ensure that the consumer is protected by one's own business operations.

Perhaps there needs to be a webinar on Young Entrepeneur.com that discusses and presents strategies of liability for business owners.

To the original poster, I would sum everything up as this: As said here, LLC will be the easiest for you, however, please establish a team of supporters to advise you along the way, because even LLC's are not enough to protect us from worse case scenarios.

I'm actually in the process of building my newest and, probably, largest long-term business model. Right now, I have four senior business advisers helping me, and I am actually under stress, because I am realizing this team needs an additional member lol. So, I will be logging in for further advise as well from experienced and educated young and old veterans.

[gregdavidson]

Dummy's Guide to LLCs is pretty good too actually for a basic understanding.

Sounds like a good recommendation. I think I'm going to head over to Amazon.com to buy it.