Business structure

Can a Record Label be an LLC?

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Can a record label be an LLC? Is an LLC good for a record label? Yes. An LLC will give you personal liability protection against potential business risks as well as give your record label more tax options and credibility. It is relatively inexpensive and simple to form and maintain an LLC. Read more on … Read more

Is a Sole Proprietor Considered an Employee?

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Is a sole proprietor considered an employee? As the owner, the sole proprietor is not treated as an employee of the business. They must still pay self-employment taxes. While a sole proprietorship may hire employees, the business must follow all local, state, and federal laws regarding workers. Read more on info.legalzoom.com An individual who owns … Read more

Does a Single-Member LLC Have a President?

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Does a single-member LLC have a president? All owners of a limited liability company are called members. LLCs are governed by operating agreements controlled by the laws of the state in which the LLC was formed. With a single-member LLC, the sole member can call herself president, CEO or another title she prefers. Read more … Read more

Pros and Cons of a Limited Liability Company (LLC)

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What are the pros and cons of a limited liability company? Pros and Cons of Limited Liability Corporations (LLC) The Pros The Cons Members are protected from some (or sometimes all) liability if the company runs into legal issues or debts. Unless you are running the LLC alone, the ownership of the business is spread … Read more

When Should You Switch to an S Corp?

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When can I switch to an S corp? When it comes to accounting, the easiest time to switch is January 1st. Forming your S Corp at the beginning of the tax year makes record keeping and tax preparation easier because you’ll need to track your S Corp finances separately from your sole proprietor finances. Read … Read more

Does a Sole Proprietor Need an LLC?

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Does a sole proprietor need an LLC? Sole proprietorships are the most basic form of business structure. If you don’t form a business entity, like an LLC or corporation, but start conducting business, you’re automatically considered a sole proprietorship. Read more on www.wolterskluwer.com Starting a business as a lone proprietor can be an exciting and … Read more