Business Organization/Formation

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This goes for all drone businesses - how many of you are operating as a sole proprietorship vs an LLC or similar? Although I have liability insurance, I still worry about the exposure that a sole proprietorship has for me personally.

Thoughts?
 
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Sole Proprietorship, that way I can take the federal standard deduction for my personal taxes and still itemize deductions for the business


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Sole Proprietorship, that way I can take the federal standard deduction for my personal taxes and still itemize deductions for the business


Sent from my iPhone using PhantomPilots
An LLC will allow that as well without the personal liability exposure.
 
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Creative business model – a success.. For those of you interested in a ‘drone’ driven business, check this! Alabama company contract with county property tax folks. Company uses drones to photograph properties for review by county tax people. (this link is to a local weekly newspaper)

County capturing more ‘detailed’ property photos - Lagniappe Mobile
 
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I decided to run everything on my own and minimize my cost as I don't like the other form or managing a business! Don't get me wrong! I'm not trying to play the business superhero or the guy that knows everything inside and out about how to run a proper enterprise on your own. One of my biggest weapons to run the operation as smooth as possible, Is creating quick forecast for my future expenses with the help of https://www.calxa.com/how-to-prepare-a-cash-flow-forecast-in-under-30-minutes . I mean it's a free tool that allows you to have a quick look in the future.
 
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