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 Renfrew, PA

Structural Advantages of a Limited Liability Company (LLC) in Renfrew, PA


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 PA 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 PA 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 Renfrew, PA
Ronald S Pollack Law Office
210 E Street Rd
Feasterville Trevose, PA 19053
(215) 396-9660
General Practice Attorneys, Attorneys, Legal Service Plans
Accord Center For Conflict Resolution, LLC
1200 Bustleton Pike, Suite 13
Feasterville Trevose, PA 19053
(215) 355-9106
Attorneys,  Family Law Attorneys,  Mediation Services,  Wills, Trusts & Estate Planning Attorneys,
Lidia Alperovich, LLC.
1200 Bustleton Pike Suite 13
Feasterville Trevose, PA 19053
(215) 355-9105
Attorneys,  Personal Injury Law Attorneys,  Business Law Attorneys,  Criminal Law Attorneys,  Traffi
Kats, Van Der Veen, and Associates
1 Bustleton Pike
Feasterville Trevose, PA 19053
(215) 302-9091
Legal Service Plans,  Accident & Property Damage Attorneys,  Corporation & Partnership Law Attorneys
Philly Lawyers
1 Bustleton Pike
Feasterville Trevose, PA 19053
(215) 396-9001
Product Liability Law Attorneys,  Attorneys,  Malpractice Law Attorneys,  Medical Malpractice Attorn
Kats & Assoc
1 Bustleton Pike
Feasterville Trevose, PA 19053
(215) 396-9001
Legal Service Plans,  Criminal Law Attorneys,  General Practice Attorneys,  Litigation & Tort Attorn
Matkoff Shengold Burke London
2 Neshaminy Interplex Dr # 103
Feasterville Trevose, PA 19053
(215) 638-9000
Social Security & Disability Law Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorne
Masington III Nicholas J
215 Route 115
Saylorsburg, PA 18353
(570) 992-8600
Attorneys, Legal Service Plans
Robinson Richard T
444 W Bristol Rd
Feasterville Trevose, PA 19053
(215) 355-8543
Attorneys, Legal Service Plans
Brownstein Mark
1057 Millcreek Dr
Feasterville Trevose, PA 19053
(215) 355-8444
Attorneys, Legal Service Plans
Brilliant & Neiman
5 Neshaminy Interplex Dr # 205
Feasterville Trevose, PA 19053
(215) 244-8101
Corporation & Partnership Law Attorneys, Attorneys, Legal Service Plans, General Practice Attorneys,
Morris Sandra W Law Office
4642 E Street Rd
Feasterville Trevose, PA 19053
(215) 322-8060
General Practice Attorneys, Attorneys, Legal Service Plans
Davis Jr F Curtis
4 Neshaminy Interplex # 206
Feasterville Trevose, PA 19053
(215) 244-7777
Attorneys
Litten Barbara
403 Elm St
Tionesta, PA 16353
(814) 755-7755
Attorneys, Legal Service Plans
Michael J. Mueller
6 Neshaminy Interplex Dr Ste 211
Feasterville Trevose, PA 19053
(267) 934-7248
Social Security & Disability Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Corporation
Michael Lerner
359 East Street Rd.
Feasterville-Trevose, PA 19053
(267) 716-7200
Personal Injury Law Attorneys, Employee Benefits & Worker Compensation Attorneys, Attorneys
De Vittorio James H
13 S Broad St
Ridgway, PA 15853
(814) 772-6777
Attorneys, General Practice Attorneys
Lawyers 4 Lemmons
25 Bustleton Pike
Feasterville Trevose, PA 19053
(877) 453-6667
General Practice Attorneys, Attorneys
Hoffman L Bruce Law Offices
2 Neshaminy Interplex
Feasterville Trevose, PA 19053
(215) 639-6646
General Practice Attorneys, Attorneys
Fernan Geci Law Office PC
35 N Broad St
Ridgway, PA 15853
(814) 776-6191
General Practice Attorneys, Attorneys, Legal Service Plans
Geci Karl E
35 N Broad St
Ridgway, PA 15853
(814) 776-6191
General Practice Attorneys, Attorneys
Simolike Arlene
1200 Bustleton Pike # 15A
Feasterville Trevose, PA 19053
(215) 355-6179
Attorneys
Martin James L
21 S Broad St
Ridgway, PA 15853
(814) 772-6003
Attorneys, Criminal Law Attorneys, Family Law Attorneys, General Practice Attorneys, Legal Service P
A1 Paralegal Svc Inc
1806 Brownsville Rd
Feasterville Trevose, PA 19053
(267) 288-5615
Paralegals
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US