Why do so many people call a LLC a sole proprietor?

Instead of trying to explain it here. And confusing both of us. I would recommend talking to an accountant, or reading up on it some more.

An LCC offers a more tax options than your basic sole proprietorship. I’ll leave it at that.

I’m sole prioprietor at the moment. In the process of filing LLC.

Word of caution. DO NOT use legalzoom. Do it yourself, or have your CPA handle it for you. You’ll thank me next year.

 

An LLC is a Limited Liability Company that can be classified as a Corporation, Partnership or as some states have only 1 member (Sole Proprietor)
For example me and my dad are in business together so we formed an Article of Incorporation with the State and we made our own written details of the business so we are Classified as a LLC Partnership...
Many people choose LLC because an average person can't come after you without legal action...

 

An LLC is not a legal shield for a sole proprietor.

 

Form an LLC for accreditation, better for business credit reports to enhance credit and better loans credit cards, reports to business credit bureau

 

I don't think a LLC is a legal shield period... We are trying to become Incorporated...

 

Yes, an LLC is most definitely a legal shield, do some basic research. You should be establishing your LLC or Corporations in Wyoming where your ownership can be kept anonymous for this litigious happy country and yearly fees kept to a minimum. LLC's can be taxed in different ways and no one with their own truck should have anything less than an LLC, its insanity not to as far as asset and legal protection.

If you really want to protect yourself? Have an LLC own the other LLC or corporation and never keep any assets or cash in the operating LLC. The operating LLC is the only one that can be sued and if there aren't any assets there, they aren't getting anything. Go read a little bit and educate yourselves www.wyomingLLCattorney.com, www.andersonadvisors.com. A lot of it is directed at real estate, but its the same process for this business.

 

I guess the truck that the LLC owns and operates drives itself down the road?

 

Yeah ... about that ... the vail of ownership can be pierced, and with all the bull that lawyers sell to people, they fail to explain how many cases throughout the where owners have lost in court trying to hide assets.

In this business, an llc does not protect anyone. Your actions have liabilities attached to them which can't be ignored.

 

Exactly. I don’t see where a LLC offfers any protection until you have drivers working for you.