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Thread: What kind of business are you?

  1. #1
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    What kind of business are you?

    I am in New York and have been operating as a dba or sole proprietor. Thinking about switching to LLC or an S Corp. It's just me. I don't have employees.

    What about you? Why are you the type that you are? How many employees do you have? Advantages? Disadvantages?

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  2. #2
    I love shiny things Merlin's Avatar
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    I've been a sole proprietor for over 15 years.
    You do need to have good insurance.

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  4. #3
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    Quote Originally Posted by Merlin View Post
    I've been a sole proprietor for over 15 years.
    You do need to have good insurance.
    I've been at it for 16 years. It's not just insurance. Might be less money in taxes..

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  5. #4
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    I have been a sole proprietor for more than five years now. This mode has a couple of benefits, such as maximum privacy, keeping all the profits, fewer taxes, and fewer registration fees. In general, owning such a business is simpler.
    You are a sole owner and can do anything with the business to your own liking and change its structure in any way. You can also hire lead generation agencies like Belkins to help you establish B2B connections. More connections you have, the more beneficial contracts you will have.
    There also are disadvantages, such as no liability protection or difficulties in getting financing, but they are less significant for me.
    Last edited by klauswoolhouse; 09-20-2022 at 04:40 PM.

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