LLC stands for Limited Liability Company. An LLC is a type of US business structure that combines the features of Corporations, Sole Proprietorships, and Partnerships. An LLC offers limited personal liability protection, similar to that of a Corporation, as well as the pass-through taxation that Sole Proprietorships and Partnerships provide.
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One of the essential steps to starting a business is determining the business structure you’ll operate under. Your choice of business structure should fit your needs, and for many entrepreneurs, an LLC is that choice. In this article, you learn what an LLC is, the benefits of an LLC, and a detailed, step-by-step guide on starting an LLC.
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If you are thinking about starting an LLC or have already formed your LLC, you may have heard about getting an EIN. In this article, we’ll go over the basics of EINs for LLCs, what their used for, and how to apply for an LLC EIN.
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If you are starting a formal business like an LLC or Corporation you have probably seen the term “Registered Agent”. For anyone starting an LLC or Corporation you will need to designate a registered agent to complete the legal process of forming your business. In this article, we’ll go over what a registered agent is, what they do, why a registered agent is needed, who can serve as a registered agent and tips on how to choose who to designate.
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There are different types of LLCs, different ways to manage them, and a number of LLC titles that you should be familiar with when setting up your business. In this article we go over single-member LLCs vs Multi-Member LLCs, the difference between LLC members and managers, and the management structures that can be used with an LLC.
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One of the most overlooked aspects when starting an LLC is the decision of how your LLC will be managed. Many business owners are unaware that they actually have an option of how their LLC will be managed and as a result fail to account for this in their LLC operating agreement. In this article we’ll go over the 2 management structures available to an LLC, the rights of LLC members, why some LLC choose a manager-managed structure and who can serve as an LLC manager.
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Every year when tax season rolls around, sole proprietors face the same question: Is a single-member LLC worth it? Could I have saved money by setting up an LLC? This article goes over what a single-member LLC is, their pros and cons, and when to convert from a sole proprietorship to a single-member LLC.
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If you want personal liability protection the choice often comes down to an LLC vs Corporation. While both provide liability protection for their owners, they have a variety of differences that impact daily operations, ongoing costs, investment opportunities, and how taxes are paid. In this LLC vs Corporation comparison guide, we’ll go over how LLCs and Corporations are similar and their main differences so you can choose which is the best fit for your business.
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Choosing between sole proprietorship vs LLC is a vital step that can make a difference in how the venture operates. To make an informed choice, you need to learn about the difference between sole proprietorship and LLC. Although a sole proprietorship does not attract regulatory requirements and registration fees, it still has considerable downsides.
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For small businesses with 2 or more owners the choice of business structure often comes down to evaluating an LLC vs a Partnership. In this business structure comparison, we’ll go over what an LLC and partnership are and the 3 key areas of difference between the two business structures.
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There are quite a few differences between operating informally using a DBA vs. taking the steps to legally form an LLC. In this article we’ll go over the basics of what a DBA is, what an LLC is and the key differences between the 2.
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Many entrepreneurs opt to start as sole proprietors to take advantage of its little to no cost to start up, simplicity and the lack of formal requirements to begin operations. While sole proprietorships provide a variety of advantages, continuing to operate as a sole proprietor as a business grows can present significant risks. In this how to article, we’ll go over the risks present in operating as a sole proprietorship, the benefits that converting to an LLC can provide and walk you through the 7 steps to change your sole proprietorship to an LLC.
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If you want to do business under a different name than the legal name of your LLC or want to use different names for your products, services, divisions or business locations you’ll need to register a DBA. In this article we’ll briefly go over DBAs, LLCs, the differences between the 2 and how to add a DBA to an LLC.
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Learn when an LLC needs an EIN and why you may want to consider obtaining an EIN for your LLC, even if it is not required.
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