We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

Switching from Sole Proprietorship to LLC

tbaz01tbaz01 subscriber Posts: 1
For the last 5 years, I`ve been a sole proprietor. It`s very simple and I don`t have to separate my personal and business accounts. I`m going to be buying a house with my girlfriend, and I don`t want her to be liable for my business debts. I would like to know all the steps I need to do to change my business to an LLC.
I currently have about $15,000 in business debts. I`m hoping that if we buy the house after I switch to an LLC that our house won`t be affected if I have to file for bankruptcy. I understand that my other assets that I`ve owned before I became an LLC would probably be in jeopardy. Am I wrong about this???


Sign In or Register to comment.