Many business owners use the sole proprietorship because it is easy to set up, maintain, and take deductions. Unfortunately, this is where the benefits end.

Basically, if you do not choose a business entity then by default you become a sole proprietor and are limited by the number of deductions you can take. In other words, it is the "bottom of the barrell, " for deductions. At least take a

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 With the current housing market causing untold numbers of bankruptcies and foreclosures many homeowners are asking how they can protect their business and personal assets from creditors. One of the greatest tools for protecting your assets is a carefully drafted Limited Partnership.

In the event of a bankruptcy, the Limited Partnership Agreement controls the assets inside of a Limited

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