It’s estimated that over 70% of U.S. businesses operate as sole proprietors. That’s not surprising, considering that doing so requires no formal business registration forms, few compliance requirements, and income tax reporting simplicity. But as businesses grow and evolve, their owners may decide to change from a sole proprietorship to an LLC.
Many choose the limited liability company (LLC) structure because it offers nearly the same ease of administration as a sole proprietorship while providing some important advantages. In today’s post, we’ll review these advantages and walk through how to change from sole […]