Just curious as to whether there are significant dangers of holding off on incorporating your hosting business? I.e. potential liability issues, tax-related issues, etc? We are trying to hold out until we are purely profitable, which should be within the next few months, but it's something that's been lingering in the back of my mind.
I've started a different business in the past, and we waited to get incorporated until we were pretty much squared away and profitable with clients and regular income. It was a bit of a pain to play catchup and get "proper" with filing taxes once we did, but it wasn't too bad and the waiting didn't really hurt us in any way. However, that was a different kind of business, so I didn't know how the hosting business differed?
My main worry is if we (God-forbid) got sued, then us not being a registered LLC could possibly bleed us, the 2 business co-founders, out to dry. But that may not be accurate.. Thoughts?
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