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Running an internet home business or any small business for that matter involves some degree of risk. The business could fail and if you are not protected creditors will be coming after you. There is also the very real possibility that your business could be a success and give you the financial freedom every person dreams of.With that new found freedom brings another creditor, the IRS. If your home business is selling a product then there is always a chance of a law suit do to a bad or faulty product. Unfortunately many people start a home business without thinking past the large sums of money they will soon be making. Only when the creditors coming calling or they are stuck with a large tax bill do home business owners realize the importance of protecting their assets.The answer is to form a entity separate from yourself. The entity takes the legal and financial risks and the small business owner runs the business. There are several options to choose from but the most common are to either form a LLC or to incorporate(there are also different forms of corporations, a general and a corporation). Visit http://www.masterlistbuilder.us and get one.