I want to start a company where I'll be the sole 100% owner. Obviously if I make a profit, I'll be paying myself on a monthly basis and at the end of the year after all expenses have been paid and some money left in the bank for operating expenses, I want to be able to take the remaining money home.
What legal structure should I choose? I am aware that an LLC will let me do this but I'll be a single-member LLC, where I probably won't be subjected to the same personal asset protection that a multi-member LLC is subjected to. I think that I can protect myself by choosing to be taxed as a C-Corp, but I think that defeats the purpose of forming an LLC.
I am a little confused about this. Please leave your info in your answer as I am looking to start this in January.
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