I have a general idea of all of the business structures. I'm living with parents, with a toyota camry with 200k+ miles on it. I plan on launching a web service where people pay less than $100/month for something. Later down the road, I plan on scoring big contracts that begin at $1000 a month, or something. I'm thinking way ahead of any current problem I have... I like to be one step ahead of myself.
I've maxed out all credit cards and am seriously beginning to understand what this "entrepreneur lifestyle" is like.
Anyway, as you can see, I have no assets. LLCs protect assets, among other things.
I've been telling myself I want to get an LLC (IF I was bringing in $1k+/month from this) because I'm doing this full time+ and I feel it makes me more legit than a sole proprietorship + DBA (which I currently have).
If you were me, would you stick with the DBA + sole proprietorship, or would you get an LLC IF/WHEN I was bringing $5k+/month (thinking if I was in this position in the future)? I live in Los Angeles.