While many small businesses operate as “Sole Proprietors” or “General Partnerships” and do so with acceptable limits of insurance, such persons remain liable for all debts of the business and all claims and judgments against it. Such liability puts an individual’s personal assets at risk, including his or her home, savings and investments. Operating properly as a Corporation or LLC limits liability of the business to that entity, ensuring the safety of the Owner’s personal wealth. Further, Corporations and LLCs offer tax advantages and potential payroll opportunities not available to Sole Proprietors and General Partnerships.