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!
 
 

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 92165

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 92165


Grit is often the single-most predictor of success.
 
- Jonah Lehrer


A Limited Liability Company (LLC) is a legal business entity that combines the liability protection of a corporation, the operating flexibility of a Partnership, and the tax benefits of a sole proprietorship. Though the rules for forming an LLC vary by state, it is a popular option for many start-up businesses.

Advantages:

Limited Personal Liability and Exposure

One advantage of an LLC is the limited liability shield, which protects the personal assets of its members. Creditors, typically, cannot hold members personally responsible for the debts and liabilities of the business. Members can only be liable to the extent of their business investment.

Pass-through Taxation

Though there are an array of tax options for a Limited Liability Company; an LLC is generally treated as a "pass-through" entity. Profits and losses pass through the business to the members and are taxed at the personal level. The business itself is not taxed. Reporting is done on members' individual income tax returns. No double taxation with both the company and the owner(s) paying taxes on the earnings of the business.

Operational Flexibility & Simplicity

An LLC is much less formal than a corporation. Record keeping and administrative procedures are not as onerous. There are no quarterly and annual meetings, or tax filings. Neither is there a board of directors.

Legitimacy

Registering a company as an LLC adds credibility to a business, and can help in brand building and marketing to potential clients and suppliers. In addition, the company can enter into contracts on its own, and also acquire property.

Disadvantages:

Higher Fees

An LLC typically pays higher filing fees compared to some other business entities or sole proprietorships. Additionally, some states require annual renewal fees or franchise taxes. It is difficult for an LLC to attract additional investment because the company does not have the ability to issue stocks and bonds. Members have to finance its business activities, or take in private investors. Getting a loan can be tough, especially for small and start-up companies. The company may have to use its business, or personal, assets to guarantee business loans.

Fewer fringe benefits

Employees of an LLC who receive fringe benefits, for example, medical insurance and parking, must treat these benefits as taxable income. This is also true for employees who own more than 2% of an S-corporation. However, employees of a C-corporation do not have to report fringe benefits as taxable income.
 
Personalize & Print a Free CA 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 CA 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 92165
Mark A Brodka Law Office
29170 Heathercliff Rd
Malibu, CA 90265
(310) 457-9994
General Practice Attorneys, Attorneys
Cohen Susan
303 Twin Dolphin Dr Suite 600
Redwood City, CA 94065
(650) 216-9949
Attorneys
Hadley & Fraulob Law Offices
1876 Bird St
Oroville, CA 95965
(530) 534-9786
Attorneys,  Social Security & Disability Law Attorneys,  General Practice Attorneys,  Legal Service
Rockett III Thomas E Law Offices
10 Pointe Dr, Suite 150
Brea, CA 91765
(909) 396-9600
Personal Injury Law Attorneys, Attorneys, Employee Benefits & Worker Compensation Attorneys
Apger William G
1453 Downer St # B
Oroville, CA 95965
(530) 533-9575
Attorneys, Probate Law Attorneys, Elder Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Re
Dzivi Bartly A-
180 Harbor Dr
Sausalito, CA 94965
(415) 339-9550
Attorneys, Legal Service Plans, General Practice Attorneys
Topform Data
2326 N Batavia St # 105
Orange, CA 92865
(714) 921-9500
Paralegals, Legal Document Assistance
Blasser Law
20955 Pathfinder Rd.,Suite 100
Diamond Bar, CA 91765
(909) 542-9456
Estate Planning, Probate, & Living Trusts,  Bankruptcy Law Attorneys,  Family Law Attorneys,  Labo
Pitts Michael E
333 Twin Dolphin Dr
Redwood City, CA 94065
(650) 620-9435
Attorneys, Wills, Trusts & Estate Planning Attorneys
Aiken Suzan Barrie
1000 Bridgeway
Sausalito, CA 94965
(415) 332-9400
Arbitration Services, Attorneys, Family Law Attorneys
Sobrato Foundation
350 Twin Dolphin Dr
Redwood City, CA 94065
(650) 620-9246
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
James Studer
1420 E Los Angeles Ave Ste 204C
Simi Valley, CA 93065
(805) 582-9191
General Practice Attorneys,  Attorneys,  Bankruptcy Services,  Legal Service Plans,  Bankruptcy Law
Webster & Webster
3743 Railroad Ave
Pittsburg, CA 94565
(925) 439-9181
Attorneys,  Divorce Assistance,  Family Law Attorneys,  General Practice Attorneys,  Legal Service P
James Dunn
303 Twin Dolphin Dr Ste 600
Redwood City, CA 94065
(619) 744-9164
Paul Mammarella
2700 N Canal St
Orange, CA 92865
(800) 951-9067
Foreclosure Services,  Bankruptcy Services,  Bankruptcy Law Attorneys,  Criminal Law Attorneys,  Gen
Jacoby & Meyers-Bankruptcy, LLP
20955 Pathfinder Rd Suite 100
Diamond Bar, CA 91765
(909) 979-9022
Bankruptcy Law Attorneys
Nowicki Edmund M
240 Twin Dolphin Dr
Redwood City, CA 94065
(650) 596-9022
Tax Attorneys,  Attorneys,  Tax Reporting Service,  Taxes-Consultants & Representatives,  Tax Return
Johnson Law Firm
430 Railroad Ave
Pittsburg, CA 94565
(925) 427-9006
Estate Planning, Probate, & Living Trusts,  Personal Injury Law Attorneys,  General Practice Attor
Johnson Law Firm
158 E 6th St
Pittsburg, CA 94565
(925) 427-9006
Estate Planning, Probate, & Living Trusts, Personal Injury Law Attorneys, General Practice Attorneys
Land Wayland
21671 Gateway Center Dr Ste 211
Diamond Bar, CA 91765
(909) 861-8890
Attorneys, Immigration Law Attorneys, Immigration & Naturalization Consultants, General Practice Att
Kraft Marcia L Law Offices
1445 E Los Angeles Ave # 301U
Simi Valley, CA 93065
(805) 583-8800
Attorneys, General Practice Attorneys, Adoption Services, Legal Service Plans
Grathwohl-Rauch & Cohen PC
100 Marine Pkwy Ste 305
Redwood City, CA 94065
(650) 592-8600
Legal Service Plans,  Attorneys,  Probate Law Attorneys,  Landlord & Tenant Attorneys,  Wills, Trus
Beck Devan D
6487 Cavalleri Rd
Malibu, CA 90265
(310) 457-8460
Civil Litigation & Trial Law Attorneys, Attorneys
Republic Document Management
660 N Diamond Bar Blvd # 105
Diamond Bar, CA 91765
(909) 860-8446
Attorneys Referral & Information Service, Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US