Question
I need help in this. please! Thanks Mary is a wonderful artist.She draws and paints portraits.She has been getting requests from family and friends to
I need help in this. please! Thanks
Mary is a wonderful artist.She draws and paints portraits.She has been getting requests from family and friends to draw and paint.She realizes that she make some money doing commission work on the side to help pay for college.Her brother, Joseph, will help her with the business.They will both be owners.Mary will create the art and Joseph will market her talent on social media and in local coffee shops.He will also handle orders so Mary can concentrate on school and art.
They've heard about different ways to organize a business.Joseph heard about a general partnership.He thinks that would be great to form.Mary saw an ad on TV about forming an LLC and thinks an LLC is a better option.Both Mary and Joseph have some concerns.They would like to keep their taxes as low as possible and not spend too much money or time forming the business.They are also worried about personal liability for the any debt the business takes on.
Which is the better to form?
LLC?
General Partnership?
Can I get full Explain Expatiations
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