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Non-Tech : Entreprenuer. Small Startup Companies. -- Ignore unavailable to you. Want to Upgrade?

To: Craig Richards who wrote (16)	1/22/1999 2:46:00 PM
From: Walter High	Read Replies (1) \| Respond to of 21

Craig, Starting out with a sole proprietorship is the easiest, and it is the easiest to move away from if you need something else. If you are interested in limiting your personal liability, you might want to look at an LLP (for professionals) or an LLC (for other types of businesses). You need not necessarily have to have partners for these organizational types, although you might want to check your own state laws as they may vary. Another issue you will want to consider for tax purposes is whether you elect the cash or accrual method of accounting. You will have to stick with your choice pretty much as it is difficult to change. It will affect when and how you declare your gross income from the business. Walter High