Is an LLC necessary

[Sharon1233]

Hi Community-we’ve been hosting for several years in New England.  I’m curious if other host have established an LLC for your protection?  Pros and Cons?  We do have an LLC and I wonder if it is necessary.  Thanks in advance.

[Brian2036]

@Sharon1233 

It’s not necessary but I think it’s a good idea.

There can be tax benefits, and, more importantly, LLC stands for LIMITED LIABILITY COMPANY.

 I definitely want to limit my liability. In a worst case scenario, if someone decides to sue me, all they can get is the value of Casitas Dora LLC, which is basically nothing except a stack of business cards.

[Mark116]

@Sharon1233  I asked my accountant and she told me she didn't think it was necessary for the sole listing, but we didn't go into a huge amount of detail, and I should probably revisit if we continue to host beyond 2022.