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 92651

Structural Advantages of a Limited Liability Company (LLC) in Zip Code 92651


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 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 92651
Laguna Beach Legal Document Services Aka Legal Assistance Center of Laguna Beach
1400 S Coast Hwy Ste 106
Laguna Beach, CA 92651
(949) 497-9800
Paralegals,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Legal Service Plans,  Estate Pla
Cimino Law Offices
352 3rd St Ste 308
Laguna Beach, CA 92651
(949) 494-9211
International Law Attorneys, Attorneys
Sheri Laughlin Law Offices
303 Broadway St Ste 204
Laguna Beach, CA 92651
(949) 497-8285
General Practice Attorneys,  Legal Service Plans,  Attorneys,  Family Law Attorneys,  Divorce Attorn
Management Pro Tem
944 Glenneyre St # B
Laguna Beach, CA 92651
(949) 715-8130
Bankruptcy Law Attorneys, Management Consultants, Attorneys
Segall Brian F Law Offices
1409 Glenneyre St
Laguna Beach, CA 92651
(949) 497-8074
General Practice Attorneys, Attorneys, Legal Service Plans
Andrade Kimberly A
352 3rd St # 305
Laguna Beach, CA 92651
(949) 494-7785
Family Law Attorneys, General Practice Attorneys, Legal Service Plans, Attorneys
Skikos Crawford Skikos & Joseph
410 Broadway St Ste 100
Laguna Beach, CA 92651
(415) 546-7300
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Attorneys
Fishman And Associates, CPA
1053 Santa Ana St
Laguna Beach, CA 92651
(949) 288-6405
Accountants-Certified Public,  Bookkeeping,  Taxes-Consultants & Representatives,  Accounting Servic
Katherine J. Hughes, P.C.
352 3rd St Suite 301
Laguna Beach, CA 92651
(949) 497-5024
Estate Planning Attorneys, Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorne
Legal Assistance Ctr-Laguna
425 Hill St
Laguna Beach, CA 92651
(949) 715-4032
Bankruptcy Law Attorneys, Bankruptcy Services, Attorneys
Nisson and Nisson
222 Ocean Ave
Laguna Beach, CA 92651
(714) 960-3586
Bankruptcy Law Attorneys, Legal Service Plans, Attorneys
Mc Mahon Robert V
401 Glenneyre St # E
Laguna Beach, CA 92651
(949) 497-3181
Accident & Property Damage Attorneys,  Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Ge
Nokes and Quinn
410 Broadway St
Laguna Beach, CA 92651
(949) 376-3061
Real Estate Attorneys,  Personal Injury Law Attorneys,  Insurance Attorneys,  Construction Law Attor
Sall Robert
32351 Coast Hwy Ste B
Laguna Beach, CA 92651
(949) 499-2942
General Practice Attorneys, Attorneys, Legal Service Plans
Timothy Dillon Law Offices
361 Forest Ave Ste 205
Laguna Beach, CA 92651
(949) 376-2800
General Practice Attorneys, Attorneys, Legal Service Plans
SAFA V Hodges Law Offices
1590 S Coast Hwy Ste 9
Laguna Beach, CA 92651
(949) 715-2500
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans,
Barry T. Simons
260 Saint Anns Dr
Laguna Beach, CA 92651
(949) 497-1729
24 Hour Access
David Epstein Law Firm
479 Ocean Ave
Laguna Beach, CA 92651
(949) 715-1500
General Practice Attorneys, Attorneys, Legal Service Plans
Denton, Kenneth - Accident Law
801 Glenneyre St # A
Laguna Beach, CA 92651
(949) 494-0815
Personal Injury Law Attorneys, Insurance Attorneys, Attorneys
Arthur M Handel Law Pc
384 Forest Ave Ste 16
Laguna Beach, CA 92651
(949) 376-0166
Insurance Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorne
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US