If you have made up your mind to start your own business, you will need to figure out which type of business entity you want to set up. One of the most popular business entities is the LLC, which has many advantages and benefits. Set up an LLC can protect your personal assets, reduce your taxes and save your time and efforts in filing excessive paperwork. Formation of LLCs are preferred because they combine the limited liability protection of a corporation and the pass through taxation of a partnership.
