Legal Question in Business Law in Ohio
Question
I started a ghost hunting service, we will have dues to pay for itself and there will be no profit made. I'll pay people to look over evidence and do other things plus pay for ways into places and equiptment. Do i need it to become a company, and do i need to mark the earnings for taxes being that their is no profit?
Asked on 9/13/07, 10:53 pm
1 Answer from Attorneys
Robert Rosplock
Rosplock & Perez
Re: Question
The reason to start a company (LLC or Corporation) would be to protect yourself from personal liability. The tax issue will depend on your operating form, and whether you are an "employee". You need to consult your accountant before deciding anything.
Answered on 9/14/07, 9:39 am
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