By Anthony Mancuso
Written by means of America's prime LLC specialist! in the event you run your individual enterprise, you may have most likely heard approximately restricted legal responsibility businesses. enterprise vendors who function LLCs usually are not individually accountable for company accounts. yet is an LLC best for you? Nolo's speedy LLC presents crucial details for enterprise vendors in each nation. It explains, in undeniable English, the benefits and downsides of forming an LLC -- together with restricting your individual legal responsibility. Nolo's fast LLC covers who may still -- and should not -- shape an LLC, the right way to function an LLC simply, opting for among a member-run or a manager-run LLC, LLCs in comparison to organisations, partnerships and sole proprietorships, easy methods to hold your tax prestige basic initially, tips to select company tax remedy whilst (and if) you are prepared and the continuing criminal and tax forms that is required. sensible, concise and simple to learn, the 4th version of Nolo's quickly LLC offers the most recent proof, figures and tax info you want to learn about this worthwhile enterprise choice.
Read Online or Download Nolo's Quick LLC: All You Need to Know About Limited Liability Companies, Fourth Edition PDF
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Extra resources for Nolo's Quick LLC: All You Need to Know About Limited Liability Companies, Fourth Edition
Sample text
LLC statutes are generally not lengthy. In just a few minutes, you should be able to find the section of law you are interested in. In Chapter 7, I discuss how to find and research your state’s statutes. Of course, once you have read the statutes yourself, it makes sense to check your conclusions with a lawyer. But this should cost less than it would if you relied on the lawyer to do the basic statutory research and explain what the law says. How to Form an LLC The basic legal step required to create an LLC in most states is to prepare and file LLC “articles of organization” with your state’s LLC filing office.
Only the listed spouse pays income and selfemployment taxes on the reported profits of the business. Presumably, only the listed Schedule C owner-spouse will receive Social Security earning credits for the self-employment taxes he or she pays. For this reason, some eligible spouses will decide not to choose one owner and will continue to file a partnership tax returns for their jointly owned business. The IRS treats the filing of a Schedule C for a jointly owned spousal business as the conversion of a partnership to a sole proprietorship, which can have significant tax consequences.
Once your paperwork is completed and filed, you’re ready to do business! See the Checklist for Forming an LLC in Appendix C for some more practical details. chapter 1 | An Overview of LLCs | 39 resource Practical information on starting and running a business. Nolo offers several helpful resources that explain the steps involved in opening any new business. com. Here you’ll find articles and FAQs full of free tips for starting your business. For more, read Nolo’s bestselling book the Legal Guide for Starting & Running a Small Business, by Fred S.
