Reply To: Incorporation – Setting up your business legal structure for optimized operation

[Natalie Minh]

@Kate @Jamie  The sole proprietorship is the easiest thing to do as it requires no real paperwork other than tracking your expenses and revenue.  At the most basic level it's like opening up a lemonade stand and reporting your business at the end of the year. Now, the thing to think about as a sole proprietorship is that down the road if you want to get a bank loan, business credit card, or protect your personal assets from lawsuits/creditors you have to setup some form of corporation in order to do this.  In order to build business credit, you also will want to setup some corp structure to get the business credit card so that you can build credit.