These days, many businesses are wrestling with finances or even struggling to stay afloat. The recession has hit small and mid-sized business especially hard. Along the way, some owners have been surprised to learn that they’re personally liable for business debts. Their personal assets — home, car and savings — are at risk.Other owners have planned ahead. If their businesses falter, their personal liability is limited. So how can you protect your own assets?Form an LLC?For starters, look at the structure of your business. Is it a sole proprietorship? If so, you’re personally responsible for all business debts, whether based
