from everything that i’ve read and done - i can tell you that for me, forming an LLC has been expensive, but worth it. it’s expensive in NY, because of the state fees associated.
however, for my partner and i, the LLC has made things easier for me to do book keeping, and i reduced my personal income by over $1900.00 this year and likewise for my partner (50/50).
i’ve purchased a digital camera, flown to NC and made several other business purchases.
this year, i’m about to buy another digital camera and a lap top - all business expenses (and they’re genuine business expenses).
i’ve also logged over 1100 miles of business travel on my car.
now, i know many of these things can be accomplished even through a DBA, however, a DBA does not provide any “asset protection” and leaves you, the owner of business and/or real estate - wide open for money hungry scoundrels.
for me, the LLC entity is EASY TO MANAGE. i also founded reixchange.com Inc. - now this we set up Subchapter S - “S-Corp” - but managing it - paperwork-wise - has been a hassle - it’s just a lot to tend to and take care of.
you’ve got Board Members, Share Holders and meetings that must be documented. now this is easy for the person who’s done it before, and i know alot of people who own corporations and don’t have a CLUE what the heck they’re doing. that’s not good.
so, if you’re not so savvy with the Corp - LLC is easier to manage and provides “asset protection” - but again, this asset protection only holds up with the services of a good lawyer, and almost more importantly - the owner’s note-taking and attention to EVERY DETAIL of business operations.