How Does an LLC Compare to Other Business Structures?
When choosing a business structure, it's essential to consider how an LLC compares to other options like sole proprietorships, partnerships, and corporations:
Sole Proprietorship: Easier to set up and manage but offers no personal liability protection. Partnership: Similar to an LLC in terms of pass-through taxation but does not provide personal liability protection. Corporation: Offers liability protection and potential tax benefits but involves more regulatory requirements and administrative complexity.