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
Common LLC Myths You Need To Know Read More »
LLCs and corporations have significant advantages and disadvantages; when you’re starting your new business, one may seem better than the other, but as your business grows, you realize that the other business entity would better suit you. In that case, entrepreneurs may need to complete a reorganization. If you need to convert your corporation to
Statutory Merger vs Statutory Conversion: What’s the Difference? Read More »
While most teenagers want to study, hang out and watch movies, some teens want to build a business. There are a variety of young entrepreneurs around the world, app builders, competitive champions, reselling clothes, and more. The entrepreneurial spirit has no age limit. An estimated 41% of teenagers say they’d prefer to start a business
Can a Teenager Form an LLC? (LLC Age Restrictions) Read More »
The LLC is a popular but recent development in the business landscape. Few people realize there are some variations of LLC types across the country. One of the recent inventions is the series LLC (which is only recognized in 22 places). The series LLC is a variety of separate LLC segments that are unified under
Series LLC vs Traditional LLC: What Is the Difference? Read More »
Many entrepreneurs and small business owners set up their businesses as LLCs due to their easy formation process, flexible taxation, and personal liability limits. S-corporations offer similar benefits, including a level of personal liability protection, and there may be circumstances in which an S-corporation (or S-corp) provides more advantages. Let’s take a look at how
How To Change Your LLC to an S Corporation Read More »
When forming a business entity, you should consider your personal liability. A limited liability company is one of the best ways to protect your personal assets. But is that protection absolute? You’d be forgiven for thinking that your assets are safe in all instances, but there are steps you should take to maximize the LLCs
Steps to Separating Personal Assets From Your LLC Read More »
If you’re starting a new business, you’ll undoubtedly have seen registered agent services on offer. You’re legally obligated to have a registered agent and registered office if you’re forming an LLC or corporation, but does that mean you need a professional registered agent service? What is a registered agent? A registered agent is a person
Can I Be My Own Registered Agent? Read More »
Corporations vs LLCs LLCs are limited liability companies, legal entities used to form a business, offering protection from incurring personal liability for debts and other business obligations. Your personal assets can’t be used in legal disputes against the LLC. LLCs are common as they provide a similar legal framework to corporations with fewer regulatory requirements.
Limited Liability Company vs Limited Liability Corporation Read More »
