Have an opportunity to invest in a project a friend is doing. Oil drilling, high risk high reward. $50k. Is it worth setting up an llc for something like this? Never had one before, are there really any benefits?
I guess what Im asking is, after the filing costs etc, is there any real benefit Im getting out of it vs just being involved as an individual? tax implications seem rather non-beneficial and Im wondering if its even worth the time/energy?
Thank you for any input or experiences you can share!
Submitted May 02, 2022 at 11:40PM by gilochild https://ift.tt/qU5WAxe
