I'd like to start a small business in the trades. Just me in the beginning but the nature of the work will require at least one employee once I am getting consistent jobs.
The first step is to get all the paperwork done and I am stuck on what type of business to form. I think the most simple is a sole proprietor but I hear a lot of talk of LLC's being a good way to go. There will be a lot of liability with this line of work so LLC seems natural.
But I also know there are other option. S-corp, C-Corp, etc. I can read all about the pros and cons of these on the internet but it does not clear up which I should use for my business.
If I do go the LLC route do I form that first, and then file with the state? Or the other way around. If there wasn't this forum to ask these questions where else should I look as a resource? I have never run a business so I know very little about any of it.
thanks