what are the major advantages and disadvantages of an llc?
["Tax efficient. It's well known that a limited company is more likely to be tax efficient compared to a sole trader, and that is one of the many reasons it's a popular business model. ... ", 'Limited liability. ... ', 'Separate entity. ... ', 'Professional status. ... ', 'Company pension. ... ', 'Maximising tax-free income. ... ', 'Complicated to set up. ... ', 'Complex accounts.']