Structuring your business

Some of my students recently incorporated their business
as a Limited Liability Company LLC.

Its a great structure that allows room for adequate flexibility.

Don't bother paying a website to do it for you.

All you have to pay is the state filing fee and for most
states it will only be two documents.

Hope this helps....thanks

 

Sounds pretty cool thanks for sharing! Flexibility is a necessity in business without a doubt.

 

You're welcome. And I totally agree about flexibility.
Many people compare the pros and cons between a
corporation and a LLC and the LLC is the best for a small
start-up hands down in my opinion.

However everyone should conduct their own research before
deciding and it can't hurt to at least consult a professional.

I can provide references to resources out there that can help if necessary.

 

LLC ia good way to protect yourself from any liabilities and also you can use it to get wholesale rates with your tax id.

 

Most of the time LLC's are good for independent solo businesses however when your dealing with a partnership a corporation may be the better option that's why I still advice most of my clients to seek out professional help.

The main issue that arise in a partnerships are the distribution of stock ownership, vesting to make sure someone doesn't join in the beginning just to quit a month later owning 50% of the company, decisions on who controls the bank account, who is in charge of hiring and firing, and what will my salary be based off of my limited invest.

These are all these that would best be controlled under a corporate structure as appose to an LLC. Some of these things can be handled under LLC but some can't.

While it is easy to file for an LLC I still suggest seeking a professionals help if your going into business with anyway else.