----- Original Message ----- From: "ginnilee p berger" <ginni.berger at juno.com> To: <dragaera at dragaera.info> Sent: Friday, March 18, 2005 9:29 AM Subject: Re: New business venture > > On Fri, 18 Mar 2005 09:04:20 -0700 "Jeff G." <Log0n5150 at hotmail.com> > writes: > > > > > > I am actually writing up a business plan for two companies (LLC's, > > actually) that I will be starting up in the very near future. I am > > tired of > > working for other people. The hardest part is casting off from the > > security > > blanket of a regular job. . . . > > > > Jeff > > > > > > I haven't had a job since October, and I'm sick and tired of trying to > find a job where my having fibromyalgia isn't considered a major > liability. Since I enjoy baking, and is more of a passion for me, that's > what I decided to go with. I'm trying to weigh the pros and cons of > Amherst, MA over Boston right now, but I think Boston is going to win > since Amherst has 5 bakeries, even if they're not cookie and dessert > oriented specifically. > > Could you tell me the pros and cons of an LLC over other forms? I'm kind > of interested in the differences and haven't made up my mind on any of > them. > > Good luck. ;-) > > Ginnilee > Lady Lavender of Teal > Basically, a LLC (Limited Liability Corp) limits the liability of the owners. In essence, it separates you from the business, so that if you are sued, they can not take your personal money or property. Taxwise, it is the same as a partnership or a personal business, you file the companies taxes with your personal tax return. The only downside is that you have to file paperwork with the state you are operating in, and that will cost some money. But I feel that the protection offered from our litigatious society is worth it. BTW, can you do wedding cakes? There is a bakery where I used to live (French's, I think) that is just what you are looking at starting, and while they do primarily deserts, a majority of their income is from wedding cakes. Just a suggestion. Jeff