I Have Already Regestered With My State As A Sole Propriotership.. Now I'm Finding Out That Mabey I Should Have Inc Or Llc. I Can't Get Business Credit With My Ein. What Should I Do. RICK
First of all, post this in the credit forum where it will get more visibility. I can't tell you what is the right form for you. Don't decide to incorporate just to get credit or just for tax reasons. You need to look at your whole picture before you decide. If you incorporate, you have a lot more recordkeeping, more tax forms, etc. Once you're established, you should be able to get credit in the business name even if you're a sole proprietor. On the other hand, even if you're incorporated, until your have a history with some tax forms and financial statements, you're going to have to give a personal guarantee on the credit. Your best bet is to talk to an attorney or a CPA in your state who is familiar with all the laws and can help you make your decision.
