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 95950

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 95950


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 95950
Community Legal Services
11834 Firestone Blvd
Norwalk, CA 90650
(562) 864-9935
Legal Service Plans,  Attorneys,  Attorneys Referral & Information Service,  General Practice Attorn
Pena Professional Services
2720 E Palmdale Blvd
Palmdale, CA 93550
(661) 225-9932
Paralegals, Business Coaches & Consultants
Paraworks
14029 Hawthorne Blvd
Hawthorne, CA 90250
(310) 679-9798
Paralegals
Barnes Brigit S Inc
3262 Penryn Rd
Loomis, CA 95650
(916) 660-9555
Attorneys, Real Estate Attorneys, Environment & Natural Resources Law Attorneys, Legal Service Plans
Simply Immigration
4203 W 137th St
Hawthorne, CA 90250
(424) 456-9532
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Gedeon Law & CPA
5155 W Rosecrans Ave Ste 217
Hawthorne, CA 90250
(424) 254-9529
Attorneys,  Accountants-Certified Public,  Personal Injury Law Attorneys,  Accounting Services,  Tax
Odenbrett Stacia A Atty
614 Lighthouse Ave
Pacific Grove, CA 93950
(831) 333-9307
General Practice Attorneys, Attorneys
Flores Medrano & Associates PC
12749 Norwalk Blvd
Norwalk, CA 90650
(562) 462-9233
Attorneys, Immigration & Naturalization Consultants, Immigration Law Attorneys, Legal Service Plans
Jordan Morgenstern
1603 Thunderbird Dr
South Lake Tahoe, CA 96150
(530) 542-9194
Attorneys, Criminal Law Attorneys, Juvenile Law Attorneys
Krebs Kenneth H Attorney
487 S J St
Livermore, CA 94550
(925) 449-9093
Karlstrom & Krebs
487 S J St
Livermore, CA 94550
(925) 449-9093
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Immigration Law Attorneys,  Divorce Atto
Timothy B. Rien,
39 S Livermore Ave Ste 209
Livermore, CA 94550
(925) 400-9004
Attorneys, Criminal Law Attorneys, Legal Service Plans, General Practice Attorneys
Mussman & Mussman LLP
1101 Sylvan Ave Suite B-4
Modesto, CA 95350
(209) 577-8890
Attorneys,  Business Law Attorneys,  Bankruptcy Services,  Bankruptcy Law Attorneys,  Litigation & T
California Lemon Lawyers
1400 Coleman Ave
Santa Clara, CA 95050
(408) 727-8882
General Practice Attorneys, Attorneys, Legal Service Plans
Family Connections Christian Adoption
1120 Tully Rd
Modesto, CA 95350
(209) 524-8844
Adoption Services,  Abortion Alternatives,  Adoption Law Attorneys,  Attorneys
Murphy Roger T
2055 Sugar Pine Rd
South Lake Tahoe, CA 96150
(530) 541-8612
Attorneys, Employment Opportunities, Workers Compensation Assistance
Attorney Alternative Legal Center
38733 9th St E Ste E
Palmdale, CA 93550
(661) 208-8556
Attorneys Referral & Information Service, General Practice Attorneys, Attorneys
Kim & Johnson Law Offices
900 Lafayette St
Santa Clara, CA 95050
(408) 984-8555
Attorneys,  Drug Charges Attorneys,  Domestic Violence Attorneys,  Criminal Law Attorneys,  Juvenile
LRDI Legal Services
PO Box Ee
Pacific Grove, CA 93950
(831) 601-8551
Legal Document Assistance,  Bankruptcy Services,  Financial Services,  Attorneys Referral & Informat
Gary E Moll & Assoc
950 E Palmdale Blvd
Palmdale, CA 93550
(661) 947-8483
Environment & Natural Resources Law Attorneys, Attorneys
National Intelligence Group
2120 Ste #107 Foothill Blvd
La Verne, CA 91750
(909) 447-8458
Paralegals, Process Servers, Private Investigators & Detectives, Security Guard & Patrol Service, Ba
Latin America Alliance
121 E 31st St
National City, CA 91950
(619) 474-8404
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
La Force Ronald L
1120 Scenic Dr
Modesto, CA 95350
(209) 602-8282
Attorneys
We The People
1347 McHenry Ave
Modesto, CA 95350
(209) 523-8227
Divorce Assistance, Legal Forms, Estate Planning, Probate, & Living Trusts, Paralegals, Bankruptcy S
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US