F.A.Q: How does an LLC work?

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An LLC is one of the easiest business structures to form due to its minimal legal requirements. LLCs separate your business assets from personal assets to prevent your savings, home, retirement and other possessions from being targeted by a lawsuit against your business. Incorporating also creates tax flexibility, credibility and name protection for the business.

F.A.Q: Why are LLCs popular?

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LLCs are popular because they provide several valuable advantages: — LLCs can be governed informally. While corporation laws require management formalities (such as a BOD, meetings and quorums), LLCs are a lot more informal. — LLCs have greater flexibility in deciding how to split their financial interests. An LLC can distribute its income to each member … Continue reading →

F.A.Q: What is an LLC?

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A limited liability company (LLC) is a fairly simple business structure. The main reason to form an LLC is to limit personal liability because LLCs have their own existence. The LLC owns the business—not the people forming it. LLCs enter into their own contracts and deals, can sue and be sued, and are liable for their own debts and obligations. 

Four Key Advantages of Incorporation

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By default, most business owners select to structure their business as either a sole proprietorship (solo owner) or general partnership (multiple owners). These entities are the simplest to form, but do have one major limitation: there’s no distinction between the business and the business owner. If by some spur of the moment reason your sole … Continue reading →