I am retired and am a beekeeper. I do it as a hobby. I want to sell the honey not necessarily for a profit. I do not want the liability should someone have any reactions to the honey. I want to protect my retirement portfolio. Is this the route to take?
Dear Juan,
To protect yourself from whatever liability your honey business might have, you need to incorporate this business or organize it as an LLC.
Forming an LLC (limited liability company) would probably work best as this type of entity is easier to maintain and typically the entity of choice for most businesses nowadays.
Keep in mind, all your business activity has to be done under that entity, and you should take all the necessary steps to guarantee that your company is properly maintained to prevent any possibility of “company veil piercing“.
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