How to Become an LLC Company How to become an LLC company (Limited Liability Company)? Wondering what do? Hoping you can start an LLC by yourself, thereby saving time and money? An LLC is one of the best ways to structure a small business because it is […]
Read more →Creating a LLC is often the first step people take when they want to “start a business.” A lot of time and money can be spent deciding what business entity to use. The choices are sole proprietor, partnership, limited partnership, corporation (C or S), and limited liability company (LLC).
The sole proprietorship is the easiest form of business for an individual to “set up.” There basically isn’t any set up. You just start doing business. You will file a schedule C with your 1040 form at the end of the year, and you may have to pay quarterly taxes, but that’s about all it takes. There is no liability protection for you operating as a sole proprietor.
The partnership is the easiest form of business for two or more individuals to “set up.” You just start doing business. Keep separate accounting for the business, and any profit or loss “passes through” to the tax returns of the individual partners based upon what they get allocated from the partnership.
Read more →Setting up an LLC has a number of steps. You can get your documents off the LegalDoom websites, at your lawyer’s office, or off the state websites. Whatever you do, go all the way. Just getting a couple of documents will only get you half way there.
Read more →If you are forming an LLC there are several different LLC formation forms and “maintenance” forms you should be aware of.
Read more →Attorney Lee R. Phillips, a nationally recognized author in the field of finance, asset protection, and estate planning presented this free Webinar on how to implement his asset protection program. The Q & A session runs about on hour, and for those who missed it, click the link below to access this great information. Lee is licensed to practice law before the United States Supreme Court, and is an engaging speaker who lectures throughout the United States, Canada and the Pacific Rim helping people understand the law and how to use it to make money and protect themselves.
Read more →Originally Delaware had very good corporate protection. For years, it made sense to form an LLC or corporation there. The Limited Liability Company was originally conceived and formed in Wyoming, so of course thirty years ago it made sense that one of the best states form LLC was Wyoming. Nevada got on board quickly and made their company privacy and tax laws very favorable. It didn’t take the other states very long to realize that they were losing company business to these three states. Today all of the states have passed laws that make LLC formation competitive with Delaware, Nevada and Wyoming.
Read more →Open a LLC Company Are you thinking to open a LLC company. You can open a LLC by yourself. Just be certain you have a complete organization. Don’t be fooled by the “quick and easy open LLC company in two easy steps” internet sites claiming that you […]
Read more →Limited Liability Companies (LLCs) are probably the most flexible business entities available today. Why form a LLC? Because you get a better asset protection than with most other business entities. If you form a LLC correctly you will also get better accounting options plus the LLC will be a lot easier to maintain than a corporation.
Read more →Personal acts include things like a divorce, lawsuit from an auto accident (donkey cart back then), bankruptcy, lavish living, or any one of a thousand other acts. If one partner got in trouble, his or her partnership interest would be taken by their creditor, and suddenly, the other partners had a new partner – an unfriendly partner.
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