HOW CAN I CHANGE MY BUSINESS INTO AN LLC ?
 | Since we do not know your personal goals regarding your current form of business or the exact purpose (asset protection, liability protection, estate planning, tax minimization) for your conversions, it is difficult for me to give you an opinion. |
| However, you might consider starting up the new LLC, and low and behold, a funny thing may happen. Sure enough, your proprietorship starts loosing business and your LLC starts getting some new business. Eventually the proprietorship could go out of business. |
| Another approach could be for the proprietorship to sell the new LLC its assets and accounts, file its final schedule "C" with your 1040 tax returns and go out of business. |