Category Archives: LLCs

A Limited Liabilities Company is a business structure formed loosely on a German style of business called GmbH (legal abbreviation) and literally means limited liability. The concept spread throughout Central Europe and in 1997 the first LLC was formed in … Continue reading →

The Limited Liability Company (LLC) is a terrific tax entity. The number one reason is its flexibility. Specifically, an LLC can be taxed as: a sole proprietorship a partnership a C corporation an S corporation An LLC is not a … Continue reading →

Both sole proprietors and partnerships can convert to a limited liability company. Owners of LLCs are called members, not shareholders. Until recently some states did not allow one-member LLCs . This is no longer the case. One-member LLCs are allowed … Continue reading →

A limited liability company or LLC provides the owners with limited liability. This implies that if the business owes money or faces a court case for some cause, only the assets of the business are at risk and not the … Continue reading →

Move aside, partnership firms and corporations. Here come the LLCs! A U.S. Limited Liability Company is an amalgamated business entity, which allows people to manage their business without putting their personal possessions at risk by limiting their liability and without … Continue reading →

A limited liability company or "LLC" is a business ownership that is an amalgam between partnership or sole proprietorship and corporation. LLCs are appropriate for smaller companies with limited number of owners. Similar to owners of partnerships or sole proprietorships, … Continue reading →

Mistake #1 Doing Business Before the LLC is Formed. You are personally liable for any business activities or transactions that take place before your LLC is formed. A person can sue you years later for something you did today. If … Continue reading →

The LLC has become the most popular choice to incorporate because it provides limited liability protection, is easier and more flexible to operate, and has fewer formalities. Personal liability is limited to the amount of capital invested by the member … Continue reading →

The limited liability company is a popular business entity for small businesses. Here are some common questions and answers regarding the entity. LLC stands for limited liability company. The entity was first created in Wyoming in the late 1970s, but … Continue reading →