what are the benefits of an LLC?

Question by jamel: what are the benefits of an LLC?
I was wondering what are the advantages of forming an LLC in a nutshell? I was wondering because I want to start my own Music Production Company one day. I also would like to know how would I go about getting all the equipment I need such as microphones, mixing boards, choosing a location and having a company built?

Best answer:

Answer by Serge M
The benefits of an LLC is that your liability is limited to the amount you invest in the company and does not extend to your personal assets. As to how to get the equipment you need, you either buy it for cash (which you invested in the LLC) or you arrange for financing. The amount of financing you will be able to obtain will depend on the amount you have personally invested and your company’s ability to repay the debt.

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