Which structure should I use for a "Husband and Wife business"? We have a small goat farm and sell items on Ebay.

Based on the fact you've given come I would remain as sole proprietor for both the eBay business and the farming operation. You may want to reconsider this structure when your revenue increase to a point can be cost effective to set up an S corporation or LLC.

The risk you face operating as a sole proprietor is in the event you are sued for a some type of business transaction. In that event, your personal assets are at risk to be used to satisfy any judgment. While most of your valuable assets are protected by state law (think house, vehicle, retirement plans, life insurance), bank accounts are not protected. So if you have large cash balances it would be better to form a recognized business entity under Texas law. Generally, an LLC is the easiest and cheapest way to form an entity while providing maximum protection to you, your wife, and your personal assets. You can have one created for cheap (starting at about $1,000 or so including filing fees with the state). Talk to an attorney if you want to form one. DO NOT use online services or "free" internet forms. You get what you pay for.. Good luck with your business.

First, a sole proprietorship is okay, but you would be wise to have an attorney discuss forming a single member LLC for the farming. Farming is a high risk and high liability business. The extra protection might be warranted. Depending on what you sell on Ebay will determine if that should be a LLC or remain a proprietorship. Good luck!. Ron Cappuccio

You need to create an entity for your busiess and I would suggest a single member LLC to minimize costs and to receive the limited liability shield