#4 in Lee’s formalities checklist asks “Have you issued Membership Interest Certificates?” #5 asks “Do you have a ledger of your Membership Interest Certificates?” When you form a corporation or an LLC for your business, part of the process is to establish ownership of the company. Some […]
Read more →Any time you transfer real property, your lender can use their due on sale to require that your loan is due in order to force the new owner into a higher interest rate. Exceptions include transfer due to death, divorce, and putting your property into a living revocable trust.
Read more →How do you make a change or amend an LLC (Limited Liability Company) or corporation once it the documents have been filed? When you find an error in your documents, or one of your business associates decides to move into another area, or you change address, how […]
Read more →If you neglect to choose a tax structure for your LLC, the IRS will choose one that may not be in your best interest.
Read more →How an LLC is taxed is a complicated question. This is because an LLC doesn’t have a unique “tax structure” under the IRS code. Corporations and partnerships have their own tax structures, but an LLC does not. An LLC is not a partnership or a corporation. An […]
Read more →LLC startup mistakes can cost a small business more than they should when the business is sued or hits a rough spot. LLCs (Limited Liability Companies) are a good foundation for business, they protect assets, are easy to run and offer great tax advantages. However there are […]
Read more →What’s in a Business Name? Registering a business name is one of the first steps to take in business formation. Shakespeare wrote, “What’s in a name.” In business, the name can become one of its most important assets. It is often difficult to pick the right name. […]
Read more →Corporate formalities and commingling assets are critical items when running a business. Commingling assets is when assets from different sources are inter-mixed inappropriately. For instance, if the fiduciary of a trust mingles the trust funds with his personal account, he breaches his or her fiduciary duty by […]
Read more →Free LLC Paperwork You may need more than free LLC paperwork if you truly want liability protection for your company. There are many choices in making an LLC. Knowing what to choose and why the choice is made is essential to getting good asset protection. Often the […]
Read more →