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 Zip Code 85260

Structural Advantages of a Limited Liability Company (LLC) in Zip Code 85260


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 AZ 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 AZ 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 Zip Code 85260
Blecher Robert B PC
8930 E Raintree Dr
Scottsdale, AZ 85260
(480) 444-9988
Attorneys
Honig Roger S PC
8930 E Raintree Dr
Scottsdale, AZ 85260
(480) 444-9984
Attorneys
Martin Marshall A
8930 E Raintree Dr # 100
Scottsdale, AZ 85260
(480) 444-9980
Attorneys, General Practice Attorneys
Dietz Ty S
12658 N 80th Pl
Scottsdale, AZ 85260
(480) 368-9979
Attorneys, General Practice Attorneys, Legal Service Plans
Pickens Dwain
8800 E Raintree Dr # 100
Scottsdale, AZ 85260
(480) 596-9848
General Practice Attorneys, Attorneys, Legal Service Plans
Michael W. Berg
8426 E Shea Blvd
Scottsdale, AZ 85260
(866) 551-9726
Attorneys, Legal Service Plans, General Practice Attorneys
Leary & Wence, PC
14300 N Northsight Blvd Suite 201
Scottsdale, AZ 85260
(480) 269-9715
Probate Law Attorneys,  Estate Planning, Probate, & Living Trusts,  Arbitration & Mediation Attorn
Rosenfield Daniel
7633 E Acoma Dr # 104
Scottsdale, AZ 85260
(480) 609-9700
Attorneys, Legal Service Plans
Kitchel John D
14860 N Northsight Blvd
Scottsdale, AZ 85260
(480) 515-9693
Attorneys, Accountants-Certified Public, Legal Service Plans
Leary And Wence, PC
14300 N Northsight Blvd
Scottsdale, AZ 85260
(888) 737-9653
Litigation & Tort Attorneys, Asbestos & Chemical Law Attorneys
Mark D Svejda Law Offices
14300 N Northsight Blvd # 224
Scottsdale, AZ 85260
(480) 991-9561
General Practice Attorneys, Attorneys, Legal Service Plans
Kelhoffer Manolio & Firestone
9300 E Raintree Dr Ste 120
Scottsdale, AZ 85260
(602) 307-9100
Estate Planning Attorneys,  Attorneys,  Criminal Law Attorneys,  Tax Attorneys,  Business Law Attorn
Matheson & Matheson, P.L.C.
15300 N 90th St Ste 550
Scottsdale, AZ 85260
(480) 889-8951
Corporation & Partnership Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Legal Service
Matheson David
15300 N 90th St # 550
Scottsdale, AZ 85260
(480) 889-8951
Corporation & Partnership Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Legal Service
Georgiou Thomas G
8350 E Raintree Dr # 201
Scottsdale, AZ 85260
(480) 429-8565
Attorneys
Brody & Georgiou
8350 E Raintree Dr # 201
Scottsdale, AZ 85260
(480) 429-8535
General Practice Attorneys, Attorneys, Legal Service Plans
Weinberger Law Firm
13840 N Northsight Blvd
Scottsdale, AZ 85260
(602) 445-8416
Attorneys
Berk & Moskowitz
14220 N Northsight Blvd # 135
Scottsdale, AZ 85260
(480) 607-7900
Estate Planning Attorneys,  Attorneys,  Legal Service Plans,  Family Law Attorneys,  Tax Attorneys,
John C. Breslo, Esq.
11011 N 85th Pl
Scottsdale, AZ 85260
(480) 650-7766
Litigation & Tort Attorneys
Resnick & Louis, P.c.
8990 E Raintree Dr Suite 100
Scottsdale, AZ 85260
(602) 730-7656
Civil Litigation & Trial Law Attorneys,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Busi
Lawyers Mortgage
15720 N Greenway Hayden Loop
Scottsdale, AZ 85260
(480) 443-7395
Attorneys
Ramos Law Firm
14500 N Northsight Blvd Suite 229
Scottsdale, AZ 85260
(480) 447-7261
Attorneys,  Criminal Law Attorneys,  Traffic Law Attorneys,  DUI & DWI Attorneys
Yearin Law Group
8961 E Bell Rd Suite 201
Scottsdale, AZ 85260
(602) 730-7142
Attorneys, Litigation & Tort Attorneys, Real Estate Buyer Brokers, Legal Service Plans
Davidson Joshua
8110 E Cactus Rd Ste 100
Scottsdale, AZ 85260
(480) 248-7022
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US