Should I set up as a sole proprietorship or LLC?
Question Details: I'd like to start renting out some large marquee type letters for use at wedding receptions or as props for photography. I don't expect to get rich doing this but I do have a fear of the venue catching fire and it being traced back to my lights. Essentially this would be a very tiny business, but I do want to be certain I am in compliance with all tax laws. Just starting out, can I just do a sole proprietorship?
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You want to do an LLC. The cost and paperwork involved is small, but having an LLC will protect you (you home, money in the bank, car, any income you get from other sources) from the vast majority of business-related liability, such as the sort of situation you describe. The minor cost and effort is well worth the protection.