12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Structural Advantages of a Limited Liability Company (LLC) in Avalon, TX

Structural Advantages of a Limited Liability Company (LLC) in Avalon, TX


Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.
 
- Steve Jobs


A Limited Liability Company blends almost all the structure of business entities like a sole proprietorship, partnership, and corporation without their respective drawbacks. New business start-ups often choose an LLC as the structure of their business.

An LLC offers several key advantages for new businesses:

1. Chart Your Own Course

As the owner of a business, you want to carve out your own place under the sun by running your own show. An LLC can be run by a single person, and most states recognize you as the sole owner of the business. Being on your own, you can make decisions without consulting or needing the approval of other members of the company. Like a sole proprietorship, you own, manage, and operate your business without the liability issues of a sole proprietor. If you have a co-owner, you can enter into a mutual or operating agreement to point out the obligations and respective role you each play in order for the business to run smoothly.

2. Bypass Double Taxation

An LLC is treated as a "pass-through" entity that allows profits to be taxed only once on each member's individual income tax return. (You can also opt for declaring your LLC as an S corporation or partnership in order to receive similar "pass-through" treatment from the IRS.)

3. Limit Personal Liability

One advantage of structuring your business as an LLC is that your personal assets will not be used to pay off the debts or legal liabilities of the LLC. The only thing that the owner or investor may lose is the capital contribution that is invested in the company. There are instances where the owner of the LLC may be personally liable, such as when he/she personally guarantees a business debt, fails to exercise due care resulting in harm to a third party, or breaches his/her duties as an owner.

4. Limit Administrative Hassles and Paperwork

Setting up and maintaining an LLC is less complicated when compared to other types of business structures. An LLC can be formed by filing articles of organization with the relevant state office, and paying the corresponding fees. The application will indicate the name and address of the company, the identity of its member(s), and other information relevant to the business. There are no mandatory meeting or reporting requirements by the member(s) or any annual directors' meeting that is usually required by a corporation.

5. Gain Flexibility in Sharing Profits

Most businesses share their profits (or losses) based on the percentage of investment they have in the company. In an LLC it can also be applied as a basis for distributing the profits, but there are other ways to distribute the profits as indicated in the LLC operating agreement. There is an IRS rule about so-called special allocations that come into play that require allocations not based on ownership interest to reflect a legitimate economic circumstance as opposed to merely trying to gain a tax advantage for the owners.
 
Personalize & Print a Free TX Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free TX Living Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Related Legal Services near Avalon, TX
Michael R Boling
2305 W Parker Rd Ste 203
Plano, TX 75023
(214) 378-8988
General Practice Attorneys, Attorneys, Legal Service Plans
Anthony J. Colton
301 Fair Ave
San Antonio, TX 78223
(210) 593-8717
Criminal Law Attorneys, Family Law Attorneys, Immigration Law Attorneys, Traffic Law Attorneys, Atto
Texas Notary Public
5309 Post Ridge Drive
Fort Worth, TX 76123
(817) 313-8615
Attorneys Support & Service Bureaus, Notaries Public, Accounting Services
Amick & Stevens
2222 W Spring Creek Pkwy
Plano, TX 75023
(214) 473-8383
Attorneys, Family Law Attorneys, Legal Service Plans, Social Security & Disability Law Attorneys
Wasmiller Cordova,
12274 Bandera Rd Ste 214
Helotes, TX 78023
(210) 255-8020
Corporation & Partnership Law Attorneys,  Attorneys,  Labor & Employment Law Attorneys,  Business La
Thompson & Kerby Law Offices
4219 85th St
Lubbock, TX 79423
(806) 793-7600
Banking & Mortgage Law Attorneys, Attorneys, Personal Injury Law Attorneys
Durbin Wendy
2723 81st St
Lubbock, TX 79423
(806) 771-7500
Bankruptcy Services,  Bankruptcy Law Attorneys,  Business Bankruptcy Law Attorneys,  General Practic
Angie Trout Law Office
2514 82nd St
Lubbock, TX 79423
(806) 771-7177
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Adoption Law Attorneys,  Civil Litiga
Heimer Law Offices
6633 E Highway 290
Austin, TX 78723
(512) 291-7105
General Practice Attorneys, Attorneys
Santana Israel
1421 Telephone Rd
Houston, TX 77023
(713) 923-6404
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Estate Plann
The Diaz Firm, PLLC
6207 Sheridan Avenue #210
Austin, TX 78723
(512) 687-6228
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Petterson Law Office
12274 Bandera Rd
Helotes, TX 78023
(210) 695-6111
Attorneys,  Estate Planning, Probate, & Living Trusts,  Divorce Assistance,  Real Estate Attorneys
Aaron Carter Law Firm
7606 University Ave # B4
Lubbock, TX 79423
(806) 745-6100
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Family Law A
Vega Kim
5733 Burwell St
Houston, TX 77023
(713) 928-5557
General Practice Attorneys, Attorneys
Killion Law Firm
2521 74th St
Lubbock, TX 79423
(806) 748-5500
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Insurance Attorneys
Martinez Raymond
301 Fair Ave
San Antonio, TX 78223
(210) 736-4656
Attorneys, Bail Bonds
Raymond Martinez & Frances Marie Herrera
301 Fair Ave
San Antonio, TX 78223
(210) 736-4656
General Practice Attorneys, Attorneys, Legal Service Plans
Boyd-Veigel Attorneys
3501 Legacy Dr
Plano, TX 75023
(972) 208-4600
Bankruptcy Law Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Plans
Miller & Bicklein Law Offices
2526 82nd St Ste E
Lubbock, TX 79423
(806) 780-4357
Attorneys,  Labor & Employment Law Attorneys,  Social Security & Disability Law Attorneys,  Personal
Gregory Sam
2742 82nd St
Lubbock, TX 79423
(806) 687-4357
Attorneys,  Bankruptcy Services,  Foreclosure Services,  Business Bankruptcy Law Attorneys,  Bankrup
Steven M. Lee, PC
6001 Gulf Fwy Ste A102
Houston, TX 77023
(713) 921-4171
Personal Injury Law Attorneys, Insurance Attorneys, Attorneys
Steve Lee
5823 Gulf Fwy
Houston, TX 77023
(713) 921-4171
Insurance Attorneys,  Attorneys,  Personal Injury Law Attorneys,  General Practice Attorneys,  Accid
Gostecnik Dora Ann
3811 Avenue B
Brookshire, TX 77423
(281) 934-4141
General Practice Attorneys, Attorneys, Legal Service Plans
Barrett & Associates, PLLC
317 N Main Ave
Denver City, TX 79323
(806) 592-3536
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US