Travis: Would you say that there is more or less paperwork for an LLC than other entity types?
Jake: On a general note, there is less paperwork for an LLC. Less required paperwork, I would say for an LLC.
However, one of the things that we always recommend is the diligence about the paperwork. Make sure that you treat decisions that involve the business in a formal way because the more formality that you do instill within yourself, the better it is for record keeping and let's say that someone comes after you and sues you, you're able to produce a lot of records that say, look, I'm running this like a business.