Question: I am starting out as an ad specialty distributor and am a sole proprietor. Is this a good business structure for me?
Answer: I advise you to check with your CPA and attorney regarding your choice of business structure. Generally speaking, there are four options:
- Sole Proprietorship
- LLC (Limited Liability Corporation)
- S Corporation
- C Corporation
The Sole Proprietorship is the simplest, but it offers no legal protection. Should there be a problem with an order (e.g., a food or injury issue) and you are sued, the person or entity suing you can go after your personal assets and the business assets, too.
- Categories:
- Promo Products
Harriet Gatter, owner of Accounting Support LLC, was an ad specialty distributor for 23 years and an adjunct professor of accounting at Neumann University. She sold her ad specialty business in 2012, became certified as a QuickBooks ProAdvisor, and now works exclusively with ad specialty distributors nationwide on their QuickBooks, order management and accounting needs.