Unlocking Your Business Potential
What is better LLC or INC? Both types of entities have the significant legal advantage of helping to protect assets from creditors and providing an extra layer of protection against legal liability. In general, the creation and management of an LLC are much easier and more flexible than that of a corporation. Read more on … Read more
When can I change my LLC to S Corp? It is important to note that one must convert to an S-Corp by March 15 in order to be applicable for the following year, or within 75 days of opening the LLC to be applicable for the year of opening. If you miss this deadline, you … Read more
Can a media company be an LLC? Yes. An LLC will give you personal liability protection against potential business risks as well as give your social media marketing business more tax options and credibility. It is relatively inexpensive and simple to form and maintain an LLC. Read more on howtostartanllc.com Media firms have been around … Read more
What advantages do corporations have over sole proprietorships and partnerships? A corporation has the unique advantage of true separation of the owner with the business. This means that the corporation files a separate tax return from its shareholders. In contrast, there is less separation of the business from its owner in a sole proprietorship or … Read more
Can you have an LLC and nonprofit with the same name? Yes, but the nonprofit has to be careful how the LLC is set up. If it is the sole owner of the LLC, then the LLC would be disregarded for tax purposes, and the nonprofit is the actual taxpayer. Read more on www.quora.com It’s … Read more
What comes first EIN or DBA? You must have an EIN to get a bank account under your business name. If your state requires you to register a DBA name, you also must show proof of registration when opening an account under the name. Read more on smallbusiness.chron.com There are several factors to take into … Read more
What is the difference between a PC and a pllc? The difference between a PC and a PLLC is ultimately the same as the difference between a regular corporation and a regular LLC. One major difference is how these entities are taxed. With a PLLC, you can choose to be taxed like a C corp … Read more
Is sole proprietor same as single-member LLC? A sole proprietorship vs. single-member LLC refers to the difference between those two corporate structures. The main distinction between the two is that a sole proprietorship and the owners are one and the same, while a single-member LLC provides a divide between the two in both legal and … Read more
Is it better to be a single-member LLC or multi-member LLC? A single-member LLC is easier for tax purposes because no federal tax return is required, unless the business decides to be treated as a corporation for tax purposes. The income is reported on the member’s tax return. A multiple member LLC must file tax … Read more
Is LLC best for consulting? Many consultants prefer to operate an LLC than be a sole proprietor or a corporation owner because these entities combine many of the advantages of the other two entities. If you run a small operation and want to protect your assets, this is likely the best legal structure for your … Read more