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LLC Formation

Moving LLCs

Forming an LLC in a state different than where it does business in means increased fees. Moving LLCs to where they should be will save you in the long run. There are several options available for moving LLCs, depending on what state your LLC is formed in and where you want it moved to.

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Spouse as Member in an LLC

We are often asked whether it would be a good idea to have your spouse as member in your LLC to make it a multi-member LLC. When you are looking for another member in your LLC, the best solution is to have a member who is not […]

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NAICS Codes Make a Difference

Sometimes it is just a little thing that can trip you up. For years I had the same big accounting firm do my taxes. As it turns out, they had me coded as a retail store owner. I’m basically a professional speaker. A retail store owner doesn’t fly 200,000 miles in a year, so that was an automatic flag. I was getting audited at least once every five years.

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Can I Deduct Business Expenses for an LLC?

The truth is that running your business in the form of an LLC, whether it is taxed as a sole proprietorship, partnership or corporation, makes good tax sense.

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Putting a Company Into a Trust

You have spent your life working to build your business, but how much effort have you put into protecting it? And beyond lawsuits, the sad truth is that many small businesses don’t survive the death of the founder.

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Using an LLC To Day Trade

As with many aspects of LLCs, whether it is advisable to be using an LLC to day trade depends on the circumstances of your particular business. There are three aspects to the decision as to whether or not to use an LLC to day trade or use an LLC to trade stocks: management, taxes, and asset protection.

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LLC Q&A on Holding Company Corporation

LLC OWNERSHIP LLC Ownership has many advantages, but should be set up properly. Recently a student asked me about  whether a corporation should be the holding company (daddy corporation) for all of their real estate investment LLCs. I would love to hear your comments. Use the box […]

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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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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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