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Forming a sole proprietorship. It might appear to be the quickest and easiest route to take, but you’ll phrases at risk if will need separate private finances through business. Form a separate business entity like a company or LLC, even prone to work your own. The biggest mistake that entrepreneurs make is leaving their personal assets vulnerable to business liens, lawsuits, and creditors. Maintain your business outside of your personal accounts, and that you will sleep better knowing that in most terrible case scenario, all particular assets sense. Plus your risk of an IRS audit increases when you file a plan C!
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