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I'm currently developing mobile applications for the Palm webOS platform (Palm Pre, Palm Pixi, etc). I haven't established a business entity yet so I am running as a sole proprietorship which is totally bootstrapped. Recently, I god paid from app sales. I'm getting payments deposited into my PayPal account. Should I establish a business entity now? What should I do with the payments I receive in my PayPal account - leave or transfer? Any advice would be much appreciated.

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Look, a sole propietorship is the best business entity when it comes to small businesses, if you're not planning to grow much, I'd recommend to stick to that format, it's better when it comes to taxes and your exempt from liabilities as well. Anyway, if you wish to incorporate, an llc is the way to go.

Regarding teh Paypal issue, I would have a bank account exclusively for the business and I would transefer my money there, but that is just some personal decision.

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There are so many local laws and regulations on various forms of business; we should be directing him to speak to an accountant and lawyer. Sole proprietorship might be fine; but to call it the "Best" entity for small business is a bit presumptuous. As with many business related topics; it depends on many factors. – Reboog711 Mar 26 at 3:06

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