Does a small market farm need a LLC?
An LLC (or Limited Liability Company) would help protect your personal assets from creditors (but I doubt you are borrowing money for this business) and from potential law suits from customers (adding more liability coverage to your homeowner’s policy would do the same). While you could write off your business expenses through the LLC, you can also do that on your personal tax return on the Schedule ‘C’. Personally, I doubt the LLC would save you any money, as the cost of the annual tax return (if you use a CPA) would probably exceed any savings from additional tax write offs. As always, it’s best to check with an accountant who understands your personal tax situation. Good luck with your new business!
