Why Single Member LLCs Don’t Work in 45 States
BY Admin | June 6, 2017A limited liability company (“LLC”) mixes the tax benefits of a sole proprietorship or partnership with the asset protection of a corporation. It also has fewer formalities than a corporation, making it more cost-efficient and easier to meet filing obligations. Based on the many benefits of LLCs, it is easy to see why it is…
Caution: Lack of Knowledge About LLCs May Be Harmful to Your Financial Wellbeing
BY Admin | May 31, 2017A limited liability company (LLC) is a business structure that combines the benefits of both a corporation and a sole proprietorship or partnership. It offers pass-through taxation, if elected, with the added benefits of asset protection. LLCs are an excellent solution for business owners in many situations, but they may not be the best choice…
Personal Vs. Business Asset Protection: Which is Better?
BY Admin | May 26, 2017We live in a highly litigious society in which people can be the recipients of lawsuits whether they are at fault or not. If, for example, a friend of your daughter’s borrows the family car and accidentally accelerates when she was intending to brake in a parking lot, the resultant crash through a storefront window…
Deductions for the Average American: Put More Money in Your Pocket
BY Admin | April 3, 2017The average American will pay approximately $10,000 in taxes every year. Of course, this number varies by income level, and the taxes often seem high no matter which rate applies to your particular situation. But, what if there was a way to significantly decrease your taxes owed by reducing your taxable income without changing your…
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