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Old 09-18-2013, 08:36 PM
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alexschultz1 alexschultz1 is offline
LawnSite Bronze Member
Join Date: Mar 2006
Location: north of atlanta
Posts: 1,361
Originally Posted by 205mx View Post
What Tax benefits?
The IRS Does not recognize LLC's.

It does not protect you or separate you and your company assets. Especially if you are a single member or you and your wife or you and your single business partner. I think I may have made a mistake going with an LLC. But for $300 a year I figure what the hell.
Um, yes it does, but to an extent. An LLC (limited liability company) won't protect you if you run someone over with your mower, but it will protect you if you underbid a $250,000 job and need to declare bankruptcy. I have no idea why people think that an LLC instantly protects your personal assets from legal situations that you are personally responsible for.

Ive taken advantage of the world market and started a new business. We are building bombs in the shape of prayer blankets for our middle eastern customers. Business couldnt be better. The prophets are going through the roof!!
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