John wants to start a new business,but he would like to keep the paperwork simple and avoid large legal fees.However,John does not want his personal property attached to the business.John should start his company as a __________.

Question

Quizplus · Accepted Answer

A limited liability company (LLC) provides protection for an individual's personal assets while keeping paperwork and legal fees relatively simple. It also provides flexibility in terms of management and taxation options. A corporation would also provide personal asset protection but may involve more legal and financial complexity. A partnership and proprietorship do not provide personal asset protection.

John Wants to Start a New Business,but He Would Like