An LLC separates your personal assets from business debts and lawsuits, but only if you don't personally guarantee loans. Lenders often require that guarantee anyway, which means you're still on the hook.
A limited liability company is critical to providing protection from personal liability for the debts of your business. If you do not have your business on an LLC, you can be personally liable not only for the debts of the company, but also for the actions of any of your employees or co-owners. An LLC will also protect you from damages related to your own actions if they were done in the course and scope of your business. LLC protection is available in every state in the country, but you should know that an LLC will not protect you if you have personally guaranteed the debts of the business. And often when you first start out, creditors and loan companies, they want you to personally guarantee those things. So if you have a business, you need to seriously consider putting it in an LLC regardless of what state you're in. If you want more information about exactly how to do that, go to the Linktree on my page and look for Taylor Brands, and there you can create your own LLC. And if you'd like more information about LLCs in general, just follow me.
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