Posts tagged with "LLC"



Business · November 17, 2022
How Your Choice Of Business Entity Affects Your Tax Obligations—Part 2
Choosing the right business entity can have a big impact on your tax obligations. How do you decide? You need to start by understanding what relationship your business entity has with the government. In part 2 of this series, we'll cover the tax treatment of the remaining two entity structures: C Corporations and S Corporations along with discussing the benefits and drawbacks related to each one. Read more here...
November 10, 2022
How Your Choice Of Business Entity Affects Your Tax Obligations—Part 1
Need to know how your choice of business entity affects your tax obligations? If you are not cautious, taxes can eat up a large chunk of your profits. Choosing the proper business structure can be complicated, but following our guidelines will help simplify things. Part 1 of this series looks into sole proprietorship, partnerships, and (limited liability company) LLCs. Read more here.
Estate Planning · July 29, 2022
4 Essential Strategies For Protecting Your Family's Assets
You might think only the wealthy need to worry about asset protection planning. But the truth is that if you don't have millions, you may be at even greater risk. For instance, if you're a multi-millionaire, a $50,000 judgment against you might not be that big of a deal. But it could be devastating for a family with a modest income, savings, and home. Before it's too late, learn the strategies you may use to safeguard your assets.
Business · June 28, 2022
4 Fundamental Asset Protection Vehicles For Business Owners
Regardless of what industry you're in, the reality of being a business owner is that you open yourself up to a number of unique risks that most people don't have to worry about—and the more successful your business is, the more risks you face. And because most business owners aren't fully aware of all the potential risks that can affect their company or the options available to protect their personal assets from the risks of doing business. This is where asset protection planning comes in.
Business · March 15, 2022
Must-Have Business Insurance For Startups
When you're just starting your business, it's easy to lose sight of just how many potential risks your company faces. Yet a single accident or lawsuit can wipe out your company before it even can get off the ground. While setting up a business entity like an LLC or corporation can protect your personal assets from liabilities incurred by your business, it won't protect your business assets—that's where business insurance comes in.
Business · December 28, 2021
4 Ways A Business Lawyer Can Support Your Startup
The constant whirlwind of excitement and activity surrounding the launch of your startup can leave you feeling overwhelmed. You can get so focused on the day-to-day tasks and responsibilities of getting your operation up and running that you neglect some of your company's most vital legal components. Because you're so busy and likely not generating much revenue during the startup phase, it may be tempting to try to handle everything on your own and not seek out the support of a business lawyer.
Business · November 16, 2021
5 Tips From A Lawyer For Keeping Your LLC Compliant
Many entrepreneurs structure their business as an LLC because, like corporations, LLCs offer personal liability protection for their owners. But unlike corporations, LLCs are not legally required to adhere to many of the same corporate formalities required of corporations. Although the administrative requirements for an LLC are far less strict than for a corporation, you’ll still need to abide by some operational formalities if you want to maintain your personal liability protection.
Business · September 28, 2021
3 Pitfalls To Avoid When Buying An Existing Business
Building a business from scratch can involve years of working long hours for little to no financial reward. In fact, whether your company can generate a profit or not, starting your own business can consume your life like few other activities. However, buying an existing business isn't without its own challenges. It'll also require hard work and sacrifice, and no matter how successful the company was under its former owner, there's no guarantee you will experience the same prosperity.
Estate Planning · September 24, 2021
A Not-So-Happy Accident: Bob Ross’s Estate Planning Failures Leave His Son With Next To Nothing—Part 2
Don't let what happened to Bob Ross's family happen to yours. If you own a business, it's crucial to put in place an effective estate plan and should be properly coordinated with your business agreements to ensure that all of your wealth and assets will be passed on to your loved ones in the event of your death or incapacity. Failure to do this could lead them in the same situation as Bob's son, Steve, who's left with nothing, while the business built by his father continues to earn every year.
Business · August 03, 2021
Five Factors To Consider Before Investing In A Franchise
If you've always dreamed of running your own business but find the thought of building an entire company from scratch too daunting, you might consider investing in a franchise. When you purchase a franchise, you get an already proven business model and brand, which can make the startup phase significantly easier. Also, most franchises come with turnkey operating systems, extensive training programs, and ongoing support from the franchisor. However, no business is without its risks and drawbacks.

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