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Business Credit When forming a limited liability company (LLC), one of the very first—and most important—steps is filing a Certificate of Organization (also known as Articles of Organization in many states). This document plays a pivotal role in your business’s legal existence. Without it, your LLC does not formally exist, meaning you won’t have the legal protections […]
An LLC combines a corporation’s limited liability protection with a partnership’s simplicity. LLCs can have one or multiple owners (members) and enjoy pass-through taxation, meaning that business profits and losses are reported on the owners’ individual tax returns. But if an LLC generates considerable amounts of revenue, it may want to consider electing the S […]
For both new and seasoned business owners, taxes are an inevitable part of running a business. However, when double taxation is factored in, managing taxes becomes more complicated. Double taxation begins at the corporate level, where a company’s profits are taxed at a specific rate. Shareholders pay the additional taxes imposed on earned dividends or […]
It’s no secret that forming a limited liability company (LLC) offers legal protections for business owners. Chief among these is the “corporate veil”—a metaphorical shield that separates the business’s liabilities from the personal assets of its members. This separation is what limits your personal liability for the debts and obligations of the business. If your […]
As soon as LLC officer titles are decided, members can use an operating agreement to establish the company’s bylaws and ultimately guide it. Running an LLC requires less formality, so the leadership structure of an LLC is equally simple. In this blog, we’ll discuss the essential titles you need to know to understand the LLC […]
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