ZuberGardner CPAs

An LLC is a corporate structure where members cannot be held accountable for the company’s debts or liabilities. This can shield business owners from losing their entire life savings if, for example, someone were to sue the company.

How does an LLC protect my personal assets? An LLC creates a legal separation between you and your business. If the business is sued or incurs debt, creditors generally cannot pursue your personal assets, provided you maintain proper business practices.

Self-employed. Remember to pay your Social Security and Medicare taxes in addition to your income taxes. Creating and funding a savings account for this purpose can help avoid the cash flow hit each quarter when you pay your estimated taxes.