Comment on Why do big corporations get to claim losses, but small businesses can't?

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FireTower@lemmy.world ⁨2⁩ ⁨months⁩ ago

Yes the main appeal of a LLC is that you aren’t liable if your LLC gets sued. As a sole proprietor if someone slips and falls in your store they can recover damages from you personally. As an LLC they can only get the business’s funds.

This means that even if awarded damages from a civil case tanks your business your won’t be out of a home and your personal bank accounts are safe (not considering the burden of lossing your source of income).

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