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 01760

Advantages and Disadvantages of a Limited Liability Company (LLC) in Zip Code 01760


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 MA 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 MA 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 01760
Kinder Sally A
264 N Main St # 2
Natick, MA 01760
(508) 652-9888
Attorneys, Legal Service Plans
Grassia Murphy & Lupan
5 Commonwealth Rd Ste 4A
Natick, MA 01760
(508) 650-9252
Attorneys, Legal Service Plans
Townley F Bradford
2 Pleasant St N
Natick, MA 01760
(508) 650-9044
Attorneys, Legal Service Plans
Brian P. Kennedy, Attorney and Counselor at Law
8 David Drive
Natick, MA 01760
(617) 480-8973
Attorneys, Family Law Attorneys, Divorce Attorneys, Divorce Assistance, Estate Planning Attorneys
Bloomenthal Law Office
2 Summer St
Natick, MA 01760
(508) 315-8200
General Practice Attorneys, Attorneys
Keough Paul J
2 Summer St
Natick, MA 01760
(508) 653-8120
Arbitration Services,  Attorneys,  Mediation Services,  Legal Service Plans
Charles Gale
207 W Central St
Natick, MA 01760
(508) 907-7013
General Practice Attorneys, Attorneys
Milberg Melinda
220 N Main St
Natick, MA 01760
(508) 655-6800
Arbitration Services,  Attorneys,  Mediation Services,  Legal Service Plans
Mahaney John D
10 Eliot St
Natick, MA 01760
(508) 653-6560
General Practice Attorneys, Attorneys
Mahaney Gerard
10 Eliot St
Natick, MA 01760
(508) 653-6560
Attorneys, General Practice Attorneys
Natick General Practice
67 Union St
Natick, MA 01760
(508) 907-6201
Legal Service Plans, Attorneys
Crossley Law Offices
25 N Main Street, Suite #1
Natick, MA 01760
(508) 655-6085
Bankruptcy Law Attorneys,  Family Law Attorneys,  Immigration Law Attorneys,  Personal Injury Law At
Marr David E
199 Union St
Natick, MA 01760
(508) 655-5522
Tax Attorneys, Tax Return Preparation, Attorneys, Tax Return Preparation-Business, General Practice
Sullivan John F
4 Pleasant St N
Natick, MA 01760
(508) 653-5400
Attorneys
Alexander Craig
9 Harvest Moon Dr
Natick, MA 01760
(508) 647-4946
General Practice Attorneys
Keats McFarland & Wilson
21 Eliot St Ste 6
Natick, MA 01760
(508) 651-4900
Attorneys, Legal Service Plans
Wolf Law Offices
74 W Central St
Natick, MA 01760
(508) 651-3911
General Practice Attorneys, Attorneys
Danis Lewis Law Office
264 N Main St
Natick, MA 01760
(508) 655-3556
General Practice Attorneys, Attorneys
Hadlock Law Offices
679 Worcester ST
Natick, MA 01760
(508) 405-2000
General Practice Attorneys, Attorneys
Doran, Francis M - Doran & Doran
20 Main St # 1
Natick, MA 01760
(508) 653-1761
Accident & Property Damage Attorneys,  Attorneys,  Criminal Law Attorneys,  Personal Injury Law Atto
Musgrave Alan S Law Offices
811 Pleasant St S
Natick, MA 01760
(508) 650-1583
Attorneys
Mc Cue Matthew
1 South Ave
Natick, MA 01760
(508) 655-1415
General Practice Attorneys, Attorneys
Emily Towne McNeil
8 Lotus Path
Natick, MA 01760
(508) 962-1387
Attorneys
Scimone David
5 Commonwealth Rd Ste 4B
Natick, MA 01760
(508) 651-1090
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US