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Posts Tagged creating a llc

LLC Creation Fast and Easy

Creating a LLC is often the first step people take when they want to “start a business.” A lot of time and money can be spent deciding what business entity to use. The choices are sole proprietor, partnership, limited partnership, corporation (C or S), and limited liability company (LLC).

The sole proprietorship is the easiest form of business for an individual to “set up.” There basically isn’t any set up. You just start doing business. You will file a schedule C with your 1040 form at the end of the year, and you may have to pay quarterly taxes, but that’s about all it takes. There is no liability protection for you operating as a sole proprietor.

The partnership is the easiest form of business for two or more individuals to “set up.” You just start doing business. Keep separate accounting for the business, and any profit or loss “passes through” to the tax returns of the individual partners based upon what they get allocated from the partnership.

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LLC Creation and Articles of Organization

Creating a LLC Articles of Organization is not a difficult task. The Articles of Organization document is only two or three pages long and is basically used to provide the state with notice about your LLC creation. Once you have filed this document with the state, you are in business. However, to create LLC asset and tax protection requires more effort and more documents, but it is critical if you want to get the most from your LLC.

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