There's probably nothing as satisfying as going to work for oneself, setting your own hours and getting paid directly for the work you do. So far so good, right? Now consider something else: Headline-grabbing incidents pertaining to businesses being sued for millions of dollars come to light very day. Let's not forget that we live in a deeply litigious environment where the slightest slip-up

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 If you own a business you have probably been told to just set up an LLC or Corporation and you are protected. Unfortunately, this strategy may not protect you. In many cases it is most effective to have multiple entities to separate the business from the assets. Yes, you can use an LLC to manage the business but it may be unwise to hold significant assets in the LLC. Really you will need to

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Many business owners use the sole proprietorship because it is easy to set up, maintain, and take deductions. Unfortunately, this is where the benefits end.

Basically, if you do not choose a business entity then by default you become a sole proprietor and are limited by the number of deductions you can take. In other words, it is the "bottom of the barrell, " for deductions. At least take a

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