Does anyone know...

boxermama24

(lol Lyssa at watchyourass.com)

... the benefits of being an LLC versus a sole proprietorship?  I know with an LLC, you are not held personally responsible if your business goes under.  i.e. it doesn't hurt my credit score if the business goes bankrupt.  

However, do I lose all ability to write off certain things?  Like if I bought a Suburban as a business vehicle printed with business logos, etc. and it was used for transporting dogs, I would no longer be able to write that off for tax purposes unless I was a sole proprietorship, right?  Or the space I use in my house.  I would like to be able to write off the room we use for the kennel for business purposes and when we move from this home to a bigger property (in a couple years) I'd like to write certain things off, for example, if I was to build an on-site kennel (not attached to my home).

I know I need to talk to a tax professional about this and/or a lawyer, but wondered if anyone here had any insight on clear pro's or con's in doing an LLC or strictly being a small business owner. 

AJplusKev

DH has a small business with his family. He says you'd want an LLC. And that you should consult an attorney (which you already plan on doing).

Lyssapee

I've heard someting about this since my dad and uncle how buisnesses but really II have no idea, but it's good that you are thinking about everything before hand...

(glad you liked it, but I'm sure that site is taking by some shady porn fixation or something...)

boxermama24

Lyssapee:

I've heard someting about this since my dad and uncle how buisnesses but really II have no idea, but it's good that you are thinking about everything before hand...

(glad you liked it, but I'm sure that site is taking by some shady porn fixation or something...)

The plan is to be very prepared before I even go to NK9 this summer.  I want to actually register my business name and file an LLC (going to speak with a lawyer first) which is only $100.00 in my state to do so.  Then I want to purchase the website domain to go with my business name and begin building my website, just so I can immediately jump into business when I return home.  I realize it's an investment that could always fall through should something happen, but it's not a HUGE financial investment or anything to do these things in advance and would be a big benefit to me getting started right when I return home, rather than waiting a couple months to be able to start the business.