Unlocking Your Business Potential
Should you start an LLC? Who Should Form an LLC? Any person starting a business, or currently running a business as a sole proprietor, should consider forming an LLC. This is especially true if you’re concerned with limiting your personal legal liability as much as possible. LLCs can be used to own and run almost … Read more
Do I need a DBA for my website? There’s only one reason you would not need to file for a DBA if you are operating an online business. If you choose to conduct business under your own personal name, you don’t need to file for a DBA. In all other circumstances, though, you need to … Read more
How do you terminate an S-Corp election and revert to an LLC? To revoke a Subchapter S election/small business election that was made on Form 2553, submit a statement of revocation to the service center where you file your annual return. The statement should state: The corporation revokes the election made under Section 1362(a) Read … Read more
What is an LTD in business? What Is Ltd. (Limited)? Ltd. is a standard abbreviation for “”limited,”” a form of corporate structure available in countries including the U.K., Ireland, and Canada. The term appears as a suffix that follows the company name, indicating that it is a private limited company. Read more on www.investopedia.com In … Read more
Are most nonprofits LLC or corporations? Nonprofit: How Should You Organize Your Business. The most common type of business structure for a nonprofit is a corporation, which is formed and regulated under state law. Read more on www.upcounsel.com Organizations that are classified as nonprofits are those that were created with the intention of advancing a … Read more
Why is LLC better? An LLC offers a more formal business structure than a sole proprietorship or partnership. It also offers protection to the owner from personal liability for any of the debts that a business incurs. In other words, the personal assets of the owner can not be used for legal claims against the … Read more
Why would a company go from LLC to Inc? “”If your company is exhibiting significant growth, converting from an LLC to a corporation will give you the flexibility to allocate some profits to qualify for a lower income-tax bracket,”” says Paul Sundin, a CPA and tax strategist for Emparion. Read more on www.legalzoom.com You might … Read more
How do I change my sole proprietorship to an LLC IRS? Moving From Sole Proprietor to LLC Research to Make Sure Your Business Name is Available in Your State. File Articles of Incorporation with Your State Government Office. Create an LLC Operating Agreement. Register with the IRS. Apply for a New Bank Account. Apply for … Read more
Is an LLC organized or incorporated? When starting a limited liability company (LLC), there is often confusion about whether an LLC is also incorporated. Like incorporation, LLCs offer tax advantages and liability protection, however, they are not incorporated. Read more on info.legalzoom.com Choosing whether to incorporate or form an LLC is one of the first … Read more
Can you switch from a corporation to an LLC? Changing a corporation to an LLC is not an impossible task, but the traditional way of doing so can be quite complicated and expensive, as it requires you to first form a new LLC, then to transfer the assets and liabilities of the corporation to the … Read more