LLC vs S Corp

What is an S Corporation?First, let's talk about what an S Corp is. An S Corp is a tax election provided by the IRS for your business. An S Corp is not a type of business entity like an LLC or a Corporation. That means an LLC and an S Corp don't have to be mutually exclusive of each other, you can have an LLC that is classified by the IRS as an S Corp and you can have a Corporation that is classif

Does Your LLC Need To Pay Taxes if You Didn't Make Money?

There are numerous reasons you may want to register your business as an LLC, the primary motive being liability protection. When you run an LLC (limited liability company), you can avoid personal penalties for any debts your business runs into. That means that creditors can go after your company's assets but cannot touch any property in your name. Other benefits of owning an LLC include easy start

Can You Give Away Equity for your LLC

There are several reasons to give up your LLC’s equity. First, you may decide to do away with your membership in the company. You could choose to sell off the company. Members could also recruit a new member and add them to the ranks. Whatever may be your rationale, you want to know if it is something you can do with your Limited Liability Company; and the answer is yes. Therefore, you can give aw

How Much Does an LLC Cost?

Are you forming a business in 2022? You’ll likely need to form an LLC to get started. Let’s talk about how much that will cost you. There are a couple different fees you need to keep in mind when filing and maintaining good standing as an LLC, which can differ depending on the state you file in. We’ll include a table of how fees differ by state (as of 2022), so we’ll have you covered no matter whe

Does Your Side-Project Need an LLC?

The short answer is “no,” you do not actually need to register your side business as an LLC. That being said, while it may not be necessary for you to form an LLC, there are many potential benefits to doing so. Forming an LLC rarely has negative effects, but before forming one, you need to figure out what direction your business is going. Small businesses have the option of being organized as limi

Corporation vs LLC: Which Is Right For You?

So, you want to start a business? Congratulations! That's a major decision that can lead to great success. You need to take one step first however, and that's choosing the right entity type for your business. More specifically, an LLC versus a corporation. This decision helps ensure you have the proper structure to meet your business size and needs. LLCs and corporations (often shortened as Inc.)

What Is A Registered Agent?

If you have a small business and have decided a limited liability company or corporation is right for you, you'll need a registered agent. An LLC’s registered agent is an individual or entity which the LLC has designated to receive service of process notices, compliance-related documents, and government correspondence on behalf of the LLC. Basically, the registered agent for an LLC will have one p

LLC vs. Sole Proprietorship vs. Corporation

You might be just starting out or you could be well on your journey, but regardless of where you are, how you legalize your business is one of the most important decisions that you’ll make. It affects everything from how you file your taxes to how any potential problems would be handled in court. So, saying that it’s important might even be an understatement. The trouble is that the average smal

What is Vesting?

Starting a business with a partner or bringing on a new partner can quickly lead to issues. Vesting, or stock vesting, is one way to protect yourself.