Carpet Cleaners Hangout - Legal form of ownership

Print Page | Close Window

Legal form of ownership

Printed From: Carpet Cleaning Forum
Category: Carpet Cleaners Discussion
Forum Name: Carpet Cleaners Hangout
Forum Description: General discussion on anything related to carpet cleaning
URL: https://www.kleenkuip.com/forum/forum_posts.asp?TID=6893
Printed Date: 27/April/2024 at 9:12am
Software Version: Web Wiz Forums 12.06 - https://www.webwizforums.com

Topic: Legal form of ownership

Posted By: Rick4Life
Subject: Legal form of ownership
Date Posted: 26/January/2011 at 12:04pm

Hey All,

This is my first post however I have been on this forum for months. I am currently starting my business and trying to choose my legal form of ownership. I am leaning towards being a Sole-Proprietor. I went and met with a Small Business Development Center Consultant yesterday and she started putting all these thoughts into my head that I should file for an LLC and incorporate.

Mind you, I will be operating as a one man team and operating from my home. I will not have any employees at this time or within the next 6-12 months.

Obviously the concern is if a customer tries to sue me and takes everything I own including my house. I will of course have insurance that will cover me up to $2 million. However I was wondering if anyone here has ever run into a situation where a Sole-Proprietor has been sued for everything they have that insurance would not cover.

Thanks all!

Replies:

Posted By: westcovina
Date Posted: 26/January/2011 at 7:43pm

You need to go LLC.

-------------
http://www.example.com - http://www.carpet-cleaning-pasadena-ca.com/

Posted By: jaymark1
Date Posted: 27/January/2011 at 3:34pm

Someone falls and you loose your house, car, marriage and everything. You need to seperate your business from your personal.

An LLC costs $100 bucks, you can form it yourself online. Dont fall for those commericals who tell you you need to pay them for an LLC, its easy!

Get a lawyer, an accountant, and an insurance guy, dont skimp on the legal stuff. I sleep easy at night knowning I am covered!

Call me if you want to talk it over. 215.791.831

-------------
I dont predict the future or sell glides, am I allowed on this site?