Thank you Lily for this information. I know the chat was a while ago -- but the information is so very valuable.
I have a question - what are the differences between a Single Member LLC and a Sole Proprietor (taxes, filing, etc)? I contacted my state and an attorney...but I am still a bit confused. Sometimes I get the feeling that the state doesn't really know (at least the person I spoke with) and the attorney just confused me. Since you explained LLC Basics so well in the chat; maybe you can enlighten me?
Darlene