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Articles & Books From Jennifer Reuting
There’s no better time than now to start a new business and tap into the power of the LLC LLCs For Dummies is your comprehensive guide to limited liability companies. You’ll explore whether an LLC is the right business structure for your business, how to set up a corporate structure and membership, and the best ways of managing an LLC.
Cheat Sheet / Updated 07-03-2023
Individuals are now, more than ever, realizing the power of the limited liability company (LLC). If you’re like many people, you probably understand that an LLC can benefit you somehow; you just don’t know the next steps to take.Read on to find out the benefits of LLCs, get help naming your LLC, and get the lowdown on the different tax types for LLCs so you can make the best decisions for your business.
Article / Updated 03-26-2016
Tens of millions of Americans operate small businesses. They range from small, home-based side businesses to fully operational companies with many employees.
For the most part, these individuals operate without protection. Granted, they may not take what they do too seriously. They may consider themselves independent contractors or consultants, but in today’s litigious society, operating without even a basic level of liability protection is a bad move.
Article / Updated 03-03-2021
An operating agreement is a contract that controls how an LLC (limited liability company) operates and how the members interact with the LLC. You might think that as a sole owner of a company that no operating agreement is necessary — after all, operating agreements are comprised of terms agreed to by all of the members, and well, why make an agreement with yourself?
Article / Updated 03-26-2016
All S corporations start out as regular corporations. An S corporation is formed only when a regular corporation elects a special small-business tax status with the IRS. This is done by filing an S Election, Form 2553, with the IRS within a few months of the corporation’s formation.
Obtaining pass-through taxation, corporation style
S corporation tax status is a pass-through tax status.
Article / Updated 03-26-2016
A single-member LLC isn’t actually a different type of LLC. It’s just a normal, regular LLC with one exception: there is only one member. Because LLCs were originally intended to be partnerships, a single-member LLC is still subject to some slightly different rules. Unlike an LLC with multiple members, a single member LLC is not allowed to elect the partnership form of taxation with the IRS.
Article / Updated 03-26-2016
The Limited Liability Company (more commonly known by its acronym, LLC) is by far the most popular business structure. Only a decade ago, the LLC was the new kid on the block — untrusted and unverified. Luckily, that changed pretty rapidly — LLCs gained popularity and, within a short time, became firmly established in the business world.
Article / Updated 03-26-2016
You can't expect to pick a great name for your LLC (limited liability company) out of thin air. Creativity is best served when subject to a few helpful restrictions. The following are a few naming rules for your businesses:
Be distinct. Naming your brand-new and improved social media site FaceSpace or MyTube won't give the impression that you are either "new" or "improved.
Article / Updated 03-26-2016
Because LLCs (limited liability companies) are allowed to elect pretty much any tax status that suits them, the federal returns, information statements, and notices that they are required to file each year vary accordingly. An LLC can choose the following types of taxation: disregarded entity, partnership, corporation, or S corporation.
Article / Updated 03-26-2016
LLCs, or limited liability companies, are one of the most flexible business entities. They allow you to choose how to distribute the profits, decide who manages the business's day-to-day affairs, and decide how the profits are to be taxed. They also offer a lot in terms of liability protection. The overall advantages of the LLC include the following:
Personal liability protection: Any creditors who come knocking or lawsuits filed against your business can't affect you personally.