When I formed my business I went to my lawyer, who specializes in business corporation and in real estate. I said I wanted to form whatever type of business I needed to protect my personal assets. She said an LLC would be good since I was the only owner. ( I did get E&O insurance).
When I went to get my taxes done the first year, my accountant was confused because I said I was incorporated (the state sent me corporation papers and tax coupons.) The accountant said in PA an LLC stood for Limited Liability Company. It took us a while to figure it out, but finally he and my attorney told me an LLC in PA is a Limited Liability Company that is treated as a corporation. I was still told my personal assets would be protected.
I wonder if I should check into it again?!?
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