Incblog for Entrepreneurs
Covering entrepreneurship and business start up questions for non-residents and US citizens.
Covering entrepreneurship and business start up questions for non-residents and US citizens.
Apr 29 2010
by John Gordon | 07:04 GMT
There is much literature praising the benefits of LLCs as a new business form for the small to medium-size business owner. LLCs are indeed an advantageous business model because, unlike corporations, profits and losses can pass directly through to the owner’s personal income tax return while the owner’s personal assets are shielded from liability. But this protection is not unlimited, and if the owners of an LLC do not take adequate precautions, they can find themselves facing a potential lawsuit without the benefit of having their personal assets protected from a judgment against the LLC.
Apr 23 2009
by John Gordon | 11:04 GMT
LLCs and corporations are different in more ways than just letter combination. Each derived from different types of laws, and therefore come with significant baggage. Corporations, owned by shareholders and ruled by a Board of Directors through hired officers, are the result of centuries of entrepreneurs using other people’s money to produce profits. This led […]
Apr 22 2009
by John Gordon | 11:04 GMT
Often we get asked, where should we incorporate? What’s all this about Delaware? Here’s our rules of thumb: If you just have one location, and sell locally, you’re probably best off incorporating in your state, acting as your registered agent. (Standard rule applies, of course: get a good lawyer and a good accountant first, before […]
Apr 17 2009
by John Gordon | 10:04 GMT