There are many people out there who just don’t know how important it is to have an LLC until it’s too late. There are many benefits in having an LLC vs. a sole proprietor. I have taken the time to research the benefits for you so that in the end you won’t be at risk of losing everything you worked so hard for. Many people get caught up in having a business in their own name and really not knowing what that means if they are to be sued or if there is a judgment against their business. Having an LLC if managed and structured correctly, will put your mind at ease, as well as your personal assets.
Again, with limited liability your assets will be protected against any judgments or lawsuits. The owners which are called “members” of an LLC can only be sued for up to what they put into the business. If there are any citizenship concerns you are not required to be a citizen or a permanent resident of the United States in order to form an LLC. An LLC is nationally recognized by all states and the District of Columbia. Pass through taxation is another benefit of having an LLC. If the LLC only has one owner the IRS will treat it like a sole proprietor, if it has multiple owners the IRS will treat it like a partnership, therefore allowing you to file only one income tax return. Owners report their share of the profits and the losses of the LLC on their personal tax returns and don’t need to file separate taxes for your business. If you would like your LLC to be treated as a corporation asks about it when having your LLC formed because it is possible.
I recommend www.bizfilings.com if you want to have someone form your LLC. I had biz filings form Cushgigs LLC and I give them an A+ as a highly satisfied customer. www.legalzoom.com in another reputable company that you can have form your LLC. Also, www.medlawplus.com and www.LLC.com to name a few.
Again, with limited liability your assets will be protected against any judgments or lawsuits. The owners which are called “members” of an LLC can only be sued for up to what they put into the business. If there are any citizenship concerns you are not required to be a citizen or a permanent resident of the United States in order to form an LLC. An LLC is nationally recognized by all states and the District of Columbia. Pass through taxation is another benefit of having an LLC. If the LLC only has one owner the IRS will treat it like a sole proprietor, if it has multiple owners the IRS will treat it like a partnership, therefore allowing you to file only one income tax return. Owners report their share of the profits and the losses of the LLC on their personal tax returns and don’t need to file separate taxes for your business. If you would like your LLC to be treated as a corporation asks about it when having your LLC formed because it is possible.
I recommend www.bizfilings.com if you want to have someone form your LLC. I had biz filings form Cushgigs LLC and I give them an A+ as a highly satisfied customer. www.legalzoom.com in another reputable company that you can have form your LLC. Also, www.medlawplus.com and www.LLC.com to name a few.
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