Thank you for this article.
For over thirty years I have been advising that a business ALWAYS set up an entity for the business.
The advantages for doing so are more than merely financial.
Consider the separation in your life and mindset when you do not have the business and personal all mingled together.
Those that fail to separate business and personal live with the burden of supporting the business personally.
Do you think Donald Trump worries about his personal assets when his separate business fails? I think not, he is starting a new company that must assume its own liabilites and income.
So I advocate that every business be incorporated as a separate entity for all the aforementioned reasons and personal peace and prosperity.
Thank you.
Don