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LLC Basics

Issuing Membership Certificates

#4 in Lee’s formalities checklist asks “Have you issued Membership Interest Certificates?” #5 asks “Do you have a ledger of your Membership Interest Certificates?” When you form a corporation or an LLC for your business, part of the process is to establish ownership of the company.  Some […]

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Watch Out For the Due-on-Sale Clause

Any time you transfer real property, your lender can use their due on sale to require that your loan is due in order to force the new owner into a higher interest rate. Exceptions include transfer due to death, divorce, and putting your property into a living revocable trust.

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Change or Amend an LLC or Corporation

How do you make a change or amend an LLC (Limited Liability Company) or corporation once it the documents have been filed?  When you find an error in your documents, or one of your business associates decides to move into another area, or you change address, how […]

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Taxation of an LLC

If you neglect to choose a tax structure for your LLC, the IRS will choose one that may not be in your best interest.

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How an LLC is Taxed

How an LLC is taxed is a complicated question. This is because an LLC doesn’t have a unique “tax structure” under the IRS code. Corporations and partnerships have their own tax structures, but an LLC does not. An LLC is not a partnership or a corporation. An […]

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LLC Set Up is Easy

LLC set up is not difficult to do. First it is good to understand what an LLC (Limited Liability Company) is and why you need it. An LLC is a business structure “hybrid” of a partnership and a corporation. It has the liability protection (“corporate shield”) of […]

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LLC Startup Mistakes Exposed

LLC startup mistakes can cost a small business more than they should when the business is sued or hits a rough spot. LLCs (Limited Liability Companies) are a good foundation for business, they protect assets, are easy to run and offer great tax advantages. However there are […]

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Registering a Business Name

What’s in a Business Name? Registering a business name is one of the first steps to take in business formation. Shakespeare wrote, “What’s in a name.” In business, the name can become one of its most important assets. It is often difficult to pick the right name. […]

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Corporate Formalities and Commingling Assets

Corporate formalities and commingling assets are critical items when running a business. Commingling assets is when assets from different sources are inter-mixed inappropriately.  For instance, if the fiduciary of a trust mingles the trust funds with his personal account, he breaches his or her fiduciary duty by […]

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Free LLC Paperwork – Three Strikes And….

Free LLC Paperwork You may need more than free LLC paperwork if you truly want liability protection for your company. There are many choices in making an LLC. Knowing what to choose and why the choice is made is essential to getting good asset protection. Often the […]

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