If you want to start multiple ventures, or your business naturally expands to additional focus areas, shifting operations can lead a business owner to want to create numerous businesses under one LLC. It’s possible to operate several businesses under one LLC, but there are several issues to consider, and the route you choose has a …
Structuring your business as an LLC is a great idea – once you’ve made that decision, you’ve still got at least one more crucial decision; you’ll need to choose your management structure. In a member-managed LLC, the owners have control over company decisions collectively. A manager-managed LLC places authority in the hands of one or …
A single-member LLC only needs an EIN if it has employees or excise tax liabilities. However, it may be a good idea to obtain an EIN for your LLC. The EIN (Employer Identification Number) is used by the IRS (Internal Revenue Service) to help identify a business entity – you’ll also see this number called …
An LLC holding company is a way a business is structured that is popular with small businesses and start-up ventures. This format combines the benefits of a partnership and a corporation and provides tax benefits and solid personal protection liability. Let’s take a look at some of the most common FAQs. What is an LLC? …
One of the biggest concerns for experienced business owners is liability protection; one way business owners can increase their liability protection is by setting up an LLC parent company and creating an LLC parent-subsidiary dynamic. As with all business decisions, you’ll find significant advantages and some disadvantages to this business structure. There are several ways …
Most business owners start an LLC, as it’s the most popular business entity with many unique perks. When you start an LLC, you’ll choose the perfect name… sometimes. Sometimes, you’ll need to change it. What seemed perfect at the time may not seem right now, or you might’ve outgrown it or changed branding strategies. Whatever …
When you’re forming and running a business, things can be confusing. LLCs are sometimes misconstrued as business licenses, but is an LLC a license? The short answer is no. An LLC (a limited liability company) is a way to structure a business for tax and administrative purposes, while a business license may be required to …
Starting and running your own business is exciting and rewarding; part of that is the risks and learning curves you’ll need to go through. As an entrepreneur, it’s up to you to make calculated decisions to avoid risk where possible. Let’s look at one of the biggest ways business owners can avoid risking their personal …
Does Being a Sole Proprietor Offer Legal Protection? Read More »
Nonprofit organizations have been around for a long time. A nonprofit organization is an organization that uses its profits for a charitable purpose rather than benefiting investors, shareholders, or owners. Registered charities enjoy tax-exempt status and may be religious organizations, educational institutions, etc. But there are specific rules when it comes to nonprofit registration and …
Does a Nonprofit Need to Register in the State to Fundraise? Read More »
LLCs are one of the most popular business structures, and their increasing popularity has led to speculation about how they work. Along with speculation, there are many prevalent misconceptions. Entrepreneurs love LLCs, and they are an excellent middle ground between the formalities associated with running a corporation and the flexibility that general partnerships and sole …
