I am a sole proprietor at this time, no employees, and make less than $50,000 gross income most years. I carry Errors and Omissions insurance (I'm in an architectural related field). I keep a separate business bank account and a separate company file on Quickbooks. Would there be any advantage to becoming an LLC given my low income? At what point of income increase (I hope it does), would it be wise to become an LLC?
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