I’m a small business attorney, and I can tell you that forming an LLC is often the right move for new business owners due to the liability protection Sarah mentioned. One downside is that there can be ongoing costs, like annual fees or taxes, which vary from state to state. For example, California has a minimum annual tax of $800 for LLCs, while other states might have lower fees.

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Hi everyone, I’m planning to start my own business and I’ve heard that forming an LLC might be a good idea. I’m still not entirely sure what the process involves or if it's the best option for me. Can anyone share some advice or their experience with setting up an LLC? What are the pros and cons, and are there any specific steps I should be aware of?