Business structure

What business structure is for consultant? LLCs tend to be preferred by consultants. That’s because they offer the flexibility of a small operation while also protecting your assets. However, forming and maintaining an LLC requires paperwork and fees. If you would prefer not to deal with that, then a sole proprietorship may before you. Read … Read more

Should I form an LLC as an author? Limited liability company: As its name implies, an LLC offers protection from liability for an author-though less protection than would be provided by full incorporation. LLCs allow authors to set up a separate legal entity, protecting their personal assets in the case of lawsuits. Read more on … Read more

Is it better to be self-employed or incorporated? Income tax rates are lower for corporations than for the personal income received by sole proprietors. Using tax planning, the tax burden can be reduced by earning income through your corporation as an incorporated contractors, due to the lower corporate tax rates. Read more on blog.stafflink.ca For … Read more

Is a writer a sole proprietorship? Most writers operate as a sole-proprietorship. It is the default entity until an LLC or S-Corp is formed. You and your writing business are one in the same. Sole-proprietorships are the simplest structure of the three entities. Read more on www.sidebarsaturdays.com You could be concerned about your company’s legal … Read more

Which is better LLC or S corporation? If there will be multiple people involved in running the company, an S corp would be better than an LLC since there would be oversight via the board of directors. Also, members can be employees, and an S corp allows the members to receive cash dividends from company … Read more

Is it better to be a multi-member LLC or a single-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 … Read more

An LLC is a type of business entity, while an S corporation is a tax classification. In some instances, a business may be both an LLC and an S-corporation. (You can form an LLC and choose to be taxed as an S corporation, but your business can also operate under the default taxation system for … Read more

What’s the difference between agent and manager in an LLC? Different from a non-managing member, the managing member of an LLC acts as the company’s agent. They have the power to sell or buy company property during the course of the business. They can also fire or hire employees, bind the company through contracts, and … Read more

What is the difference between LLC and Inc? LLC”””” stands for “”””limited liability company.”””” The abbreviations “”””inc.”””” and “”””corp.”””” indicate that a business is a corporation. Both LLCs and corporations are formed by filing forms with the state. Both protect their owners from liability for business obligations. Read more on www.legalzoom.com Selecting the appropriate business … Read more

Can an online store be an LLC? 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 you … Read more