To Choose a Company Name To choose a company name when setting up a business is always a hassel. Often the name means the difference between success and failure. 1-800-CONTACTS started as a college senior project for a business school student. He got the right 800 number […]
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If you are doing an S corporation, the trust has to be a “special form” of living revocable trust. The trusts in the Accumulation and Preservation of Wealth Course are sub S qualified trusts, because of their wording.
Read more →Property Holdings Question: Property holdings what do you recommend? A different Trust for each individual property I own? K. Hoover Answer: Property Holdings should be in separate legal entities. This not only a good idea for asset protection purposes, it will make management easier. A misguided scenario […]
Read more →Beginning a business doesn’t have to cost much money. You can fill out and file the forms you need by yourself. Just be certain you take the time to be educated about the business form you use and why. I am bullish on the LLC.
Read more →Issuing Membership Certificates For an LLC Issuing membership certificates is one of the issues that seemed to be of particular interest at the boot camp we held last March. Issuing membership certificates is the way ownership is represented in the LLC. It is similar to “stock” held […]
Read more →The first thing you need to do to start a LLC is to draft your articles of organization. Pick the state you want to start a LLC company in, and go to that state’s website. It will be on the state’s website under the Secretary of State’s heading, business department, or business formation division of the state.
Read more →LLC set up fees are dictated by the state where you are forming your LLC. In some states the LLC fees are a little as $12 and others, like California and New Jersey, the LLC fee runs nearly $1,000. There may also be some state requirements that you should ask about when you file. For instance, New York requires that you advertise in each of the big three newspapers. That adds an extra step to your LLC registration.
Read more →In my 30 years as a lawyer, I’ve seen people pay LLC start up costs ranging from $50 to $25,000. The average LLC fee is about $750 today. That’s what the run of the mill boiler plate lawyer will charge.
Read more →Your LLC should have a membership ledger and membership certificates, just like a corporation needs a stock ledger and stock certificates. When money is transferred into the LLC, an entry needs to be made in the ledger and a membership certificate needs to be issued.
Read more →lthough you can use your favorite state’s website to get your operating agreement, LLC formation requires some thinking. There are a number of “blanks” on the operating agreement form. How do you fill them out?
For example, do you want your operating agreement, LLC filing, and entire structure to show a single member or multiple members? The states are starting to attack single member LLCs and remove their “charging order” protection, so how you answer this question is important.
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If you are starting a business, one of most important things you'll want is PROTECTION! The LLC is by far the BEST asset protection vehicle for your business and can SAVE you THOUSANDS per year in taxes.
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