Unlocking Your Business Potential
What are the advantages and disadvantages of limited liability partnership? Penalty for Non-Compliance. There is no cap on the penalty and it could run into lakhs if an LLP has not filed its annual return for a few years. In case of a proprietorship or partnership firm, there is no requirement for filing an annual … Read more
What is the difference between a member managed and a manager managed LLC? In a member-managed LLC, the owners have collective control over company decisions. A manager-managed LLC places management authority in the hands of a professional manager or one or more elected members. This choice goes to the heart of your company’s day-to-day operations, … Read more
Should I change my business to LLC? LLCs offer more protection, tax benefits, and other advantages that make them worth considering as business entities. by Michelle Kaminsky, J.D. If you currently own a sole proprietorship and wonder whether you can change it to a limited liability company (LLC), the simple answer is yes. Read more … Read more
Do I need an LLC to sell music? To sell your music online you will need to have a tax id number. One can either form an LLC or include the income on their personal income tax. For a band, group, or any other potentially expandable music format, it is usually a good idea to … Read more
What are the disadvantages of being a Ltd? Cons of a limited company You’ll encounter more financial admin. You’ll face more rigid taxation rules. Directors of limited companies have certain legal obligations. You’ll have less privacy than a sole trader. Read more on natwestbusinesshub.com Many business owners who are just starting out use limited firms … Read more
Yes. An LLC will give you personal liability protection against potential business risks as well as give your restaurant more tax options and credibility. It is relatively inexpensive and simple to form and maintain an LLC. Learn more about restaurant LLC benefits. Read more on howtostartanllc.com It takes risk to open a restaurant or food … Read more
You might be considering starting an LLC for your music production company but aren’t sure if you need to. No, you do not require an LLC to conduct business as a music producer, is the quick response. However, there are a number of advantages to creating an LLC that can make it worthwhile. One of … Read more
If you play music or are in a band, you could be debating whether or not to create an LLC. Small enterprises, including bands, frequently choose an LLC because it provides liability protection and has a flexible tax structure. To incorporate an LLC for your band, on the other hand, is a move that should … Read more
Do you need an LLC for online store? By Stephen Fishman, J.D. If you have an online business, or are thinking about starting one, you should consider forming a limited liability company (LLC). You don’t need to have a formal business entity to start and run an online business, but forming an LLC can provide … Read more
Can a sole proprietor have a subsidiary? If you are a sole proprietor of your business, the Internal Revenue Service makes no distinction between you and the business. If you form a subsidiary, your whole company will be treated as if you are the business, so there is no advantage to a subsidiary as a … Read more