I think I could really make a business out of running online communities like this and my game... What do you all think about it, and are you (or do you know of) a lawyer or experienced business owner that can tell me the basics, and what it means for me and for the community?
I've googled it a bit, as far as LLC (which is I think what it would be) the essentials of it are, it's tax deductible when you operate at a loss, your liability is limited to the business entity itself, and you get a business name that you can use to look all professional and stuff. But is it as simple as filling out the form to make an LLC, or since I would most likely involve other people in the business, is it best to have a lawyer consult with us and draw up the paperwork?
I've googled it a bit, as far as LLC (which is I think what it would be) the essentials of it are, it's tax deductible when you operate at a loss, your liability is limited to the business entity itself, and you get a business name that you can use to look all professional and stuff. But is it as simple as filling out the form to make an LLC, or since I would most likely involve other people in the business, is it best to have a lawyer consult with us and draw up the paperwork?