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 93202

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 93202


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 93202
Mower Carreon & Desai LLP
444 W Ocean Blvd
Long Beach, CA 90802
(562) 432-9999
Corporation & Partnership Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Legal Service
New World Services
1201 N Pacific Ave
Glendale, CA 91202
(818) 240-9909
Paralegals, Legal Document Assistance
Berg & Berg
5717 Round Meadow Rd
Hidden Hills, CA 91302
(818) 883-9905
Attorneys, General Practice Attorneys
Stebner & Associates
870 Market St # 1212
San Francisco, CA 94102
(415) 362-9800
Attorneys,  Elder Law Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorne
Redding Law Offices
3320 Churn Creek Rd
Redding, CA 96002
(530) 222-9700
Employee Benefits & Worker Compensation Attorneys
ASAP Evictions
235 E Broadway
Long Beach, CA 90802
(562) 997-9690
Attorneys, Eviction Service, Landlord & Tenant Attorneys
Advocates For Injured Elderly
5023 Parkway Calabasas
Calabasas, CA 91302
(800) 876-9689
Attorneys, Elder Law Attorneys, Wills, Trusts & Estate Planning Attorneys
Gebler & Weiss PC
5023 Parkway Calabasas
Calabasas, CA 91302
(800) 876-9689
Attorneys
Total Attorneys - Criminal Defense
PO Box 273733
Pasadena, CA 91102
(626) 923-9680
Criminal Law Attorneys, Attorneys, Legal Service Plans
Flores Roger A
343 E Main St # 704
Stockton, CA 95202
(209) 944-9665
Attorneys, Legal Service Plans
Nacara 2000 Inmigracion
14431 Chase St Ste H
Panorama City, CA 91402
(818) 894-9628
Immigration Law Attorneys, Attorneys, Immigration & Naturalization Consultants
Gotcha Legal Services
601 Van Ness Ave E-101
San Francisco, CA 94102
(415) 357-9625
Attorneys Support & Service Bureaus, Process Servers, Professional Organizations
Law off ice of Bernal Ojeda
5023 N. Parkway Calabasas
Calabasas, CA 91302
(818) 876-9606
Juvenile Law Attorneys, Criminal Law Attorneys
Leach Richard A
24009 Ventura Blvd # 101
Calabasas, CA 91302
(818) 225-9529
Attorneys
Martin Family Law Firm
1700 S El Camino Real
San Mateo, CA 94402
(650) 638-9416
Attorneys, Family Law Attorneys, Legal Service Plans, Divorce Attorneys
Alvarado Kathleen B
234 Van Ness Ave
San Francisco, CA 94102
(415) 431-9403
Attorneys, General Practice Attorneys
Josefsberg Henry J
110 W Ocean Blvd
Long Beach, CA 90802
(562) 436-9401
Employee Benefits & Worker Compensation Attorneys, Attorneys, Labor & Employment Law Attorneys
Richard Mark Baker
115 Pine Ave Fifth Floor
Long Beach, CA 90802
(562) 628-9400
Attorneys,  Legal Service Plans,  Labor & Employment Law Attorneys,  Corporation & Partnership Law A
Lauer Michael R
1425 Leimert Blvd
Oakland, CA 94602
(510) 336-9388
Attorneys, Real Estate Attorneys, Business Litigation Attorneys
Michael R Lauer
1425 Leimert Blvd
Oakland, CA 94602
(510) 336-9388
Real Estate Attorneys
Cerney Kreuze & Lott LLP
45 N Hunter Square Plz
Stockton, CA 95202
(209) 948-9384
Attorneys, General Practice Attorneys, Legal Service Plans, Social Security & Disability Law Attorne
Gregg Jim
400 Oceangate # 800
Long Beach, CA 90802
(562) 590-9378
General Practice Attorneys, Attorneys
OMNIA LEGAL INC
118 W. Stocker Ave
Glendale, CA 91202
(818) 532-9339
Criminal Law Attorneys,  Family Law Attorneys,  Personal Injury Law Attorneys,  Bankruptcy Law Attor
Sweeney Daniel
290 E Verdugo Ave # 108
Burbank, CA 91502
(818) 841-9300
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US