In the corporations of genuine estate law, the ownership or membership could be vested either in the actual property or inside a legal or natural individual, based on the corporation type. So exactly such as for instance a corporation you as a proprietor can use an LLC for a type of protection on your own personal assets. To place it differently the proprietors of the company can't be held fully accountable for almost any debts that the organization occurs or actions taken on its behalf. Based on which accounting method you select, you could be paying more in taxes than you ought to. You will even need to pay sales tax that you've received from your customers. Call the local tax agency, explain the kind of business you've got and exactly that which you sell, and ask if you have to collect sales tax. Along with better asset protection, it's better to take proper small business deductions on tax returns when utilizing a suitable business form.