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 Baker, CA

Structural Advantages of a Limited Liability Company (LLC) in Baker, CA


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 Baker, CA
A Servicio De Inmigracion
4729 Planz Rd
Bakersfield, CA 93309
(661) 836-9977
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
McLaughlin Thomas G
3105 Lone Tree Way # D
Antioch, CA 94509
(925) 754-9900
Attorneys,  Labor & Employment Law Attorneys,  Personal Injury Law Attorneys,  Insurance Attorneys,
Harry Bryant - Farmers Insurance
5401 Business Park S Ste 106
Bakersfield, CA 93309
(661) 321-9888
Insurance,  Attorneys,  Homeowners Insurance,  Life Insurance,  Business & Commercial Insurance,  Au
Tooby Norton
6333 Telegraph Ave
Oakland, CA 94609
(510) 597-9856
General Practice Attorneys, Attorneys
Schwartz Paul M
2004 Cedar St
Berkeley, CA 94709
(510) 548-9800
Attorneys, General Practice Attorneys
And Justice For All
8900 Thornton Rd
Stockton, CA 95209
(209) 472-9750
Paralegals
Munoz Armando Bail Bonds
6657 45th St
Riverside, CA 92509
(951) 782-9688
Attorneys Referral & Information Service, Attorneys
Stephens Rand L
511 W 3rd St
Antioch, CA 94509
(510) 232-9335
Corporation & Partnership Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Legal Service
Rapid Legal
14748 Pipeline Ave # B
Chino Hills, CA 91709
(909) 597-9177
Attorneys Referral & Information Service, Legal Service Plans, Attorneys
Harris E Weinberg Mediation
1388 Sutter St
San Francisco, CA 94109
(415) 674-8884
Legal Service Plans,  Mediation Services,  Attorneys,  Arbitration Services,  General Practice Attor
You Got Served - YGS Legal
4195 Chino Hills Pkwy #354
Chino Hills, CA 91709
(909) 815-8681
Criminal Law Attorneys,  Family Law Attorneys,  Paralegals,  Process Servers,  Insurance Adjusters,
R. Douglas Delgado Esq-CPA
5301 Office Park Dr
Bakersfield, CA 93309
(661) 325-8677
Accountants-Certified Public,  Attorneys,  Accounting Services,  Financial Services
Roggeveen Nguyen & Tran
3845 Stockdale Hwy
Bakersfield, CA 93309
(661) 396-8500
Attorneys,  Bankruptcy Services,  Legal Service Plans,  Bankruptcy Law Attorneys,  Personal Injury L
Karlen Cynthia K
122 Calistoga Rd
Santa Rosa, CA 95409
(707) 538-8429
General Practice Attorneys, Attorneys
William J Kelly Attny At Law
2740 Van Ness Ave # 300
San Francisco, CA 94109
(510) 741-8334
Attorneys
STEVEN JAY BROCK, INC., APLC
14071 Peyton Drive, #430
Chino Hills, CA 91709
(909) 627-8190
Labor & Employment Law Attorneys, Civil Litigation & Trial Law Attorneys, Business Law Attorneys, Di
McCormack Sandra
5330 Office Center Ct
Bakersfield, CA 93309
(661) 325-8163
Attorneys, Legal Service Plans
Guy Kornblum & Assoc
1388 Sutter St # 820
San Francisco, CA 94109
(415) 440-7800
Personal Injury Law Attorneys,  Attorneys,  Legal Service Plans,  Business Law Attorneys,  Insurance
Christopher B. Johnson
5861 Pine Ave
Chino Hills, CA 91709
(888) 503-7615
Attorneys, Wills, Trusts & Estate Planning Attorneys
Hobin Richard Law Office
1011 A St
Antioch, CA 94509
(925) 757-7585
Attorneys,  Probate Law Attorneys,  Accident & Property Damage Attorneys,  Real Estate Attorneys,  W
Joshi Law Group
2772 Gateway Road
Carlsbad, CA 92009
(619) 822-7566
Criminal Law Attorneys,  Immigration Law Attorneys,  Personal Injury Law Attorneys,  General Practic
Craig S Ewing
4475 Mission Blvd # 233
San Diego, CA 92109
(858) 273-7438
General Practice Attorneys, Legal Service Plans, Attorneys
Total Attorneys - Bankruptcy
PO Box 271686
Bieber, CA 96009
(530) 231-7343
Bankruptcy Law Attorneys,  Attorneys,  Banking & Mortgage Law Attorneys,  Bankruptcy Services,  Lega
Spar Mediation Svc
3922 Alta Vista Ave
Santa Rosa, CA 95409
(707) 544-7279
Arbitration Services,  Attorneys,  Counseling Services,  Mediation Services,  Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US