Determining the type of legal structure for a new business can be daunting for entrepreneurs and small business owners. Corporations and limited liability companies (“LLCs”) are preferred business structures because, unlike sole proprietorships and partnerships, both offer liability protection. This means that the owner of a company cannot be held personally responsible for the … [Read more...] about S Corporation vs. LLC: Which Structure is Right for Your Business
Corporation
How to Bullet Proof Your Corporation
Many small business owners are well aware of the importance and benefits of incorporation. If properly formed and operated, a corporation shields its shareholders from personal liability. Requirements in Operating a Corporation While many small business owners seek legal counsel to assist them with formation of their corporation, they may not understand the benefits … [Read more...] about How to Bullet Proof Your Corporation
Factors to Consider When Choosing a Small Business Structure
Imagine going to a tasty buffet restaurant with a large selection of soups, salads, meats, and desserts. This variety is similar to the choices available to entrepreneurs looking to dive into small business ownership. Each business structure option offers something unique, and there are certain factors to weigh when making such an integral decision. RELATED: Choosing the … [Read more...] about Factors to Consider When Choosing a Small Business Structure
What is Incorporation?
Find the answers to frequently asked questions about incorporation from Active Filings, LLC: Why Incorporate? A well-incorporated and well-run company can limit the personal liability of its shareholders. Corporate assets may be at risk, but personal assets will generally be treated as separate. However, keep in mind that the Court does not automatically remove liability … [Read more...] about What is Incorporation?
Liability Protection and Your Business Entity
The best way to understand a corporation, limited liability company (or even a limited partnership) is to realize that each creates a special legal relationship or privilege between the business owner(s) and the government. These areas of government include: State Government (including state taxing authorities and the state court system) The Federal Government … [Read more...] about Liability Protection and Your Business Entity