Bookkeeping is very crucial, but it seems to be the last concern in the pecking order until things go wrong. Several business owners tend to ignore the red flags of business management such as proper financial practices but in due…
There are great tax benefits of incorporating in Delaware which has made Delaware the state of choice for many businesses in the US. The business attraction is not only restricted to the fiscal advantages but also the legal structure and…
A Limited Partnership (LP) can be defined as a business entity that is equally apportioned between one or more general partners who actively manage the business and take further risks about the business and one or more passive investors who…
Moving into the business sphere has its thrills, from having a unique business idea to starting one’s creative ventures. Business structures are important for an entrepreneur when formalizing the venture, with Limited Liability Companies (LLCs) and Limited Partnerships (LPs) being…
A Single-Member LLC (SMLLC) is not automatically treated as a corporation for tax purposes. As a rule, the IRS classifies a single-member limited liability company as a disregarded entity for federal tax purposes. This means that the profit or loss…
It is indispensable for an LLC owner to perform the job suitably whilst also protecting his dataset and upholding a professional appearance. At present, the world is up to speed and civilization has expanded; hence, it is increasingly essential to…
For businesses looking to pool together their resources, and efforts, and extend their scope, merging two Limited Liability Companies (LLC) demonstrates a strategic move towards achieving such goals. However, in contrast, they entail proper planning and adherence to legal requirements,…
For startup founders who have decided to wind up their businesses, the end of the financial year brings a critical deadline. To avoid nasty consequences that one might be liable for in the new year, it is better to dissolve…
In Limited Liabilities Companies (LLCs), it is important to regularly keep track of processes involving gaining or losing members as this has a large effect on relationships with the law, corporate activities, and tax obligations. It does not matter whether…
The process of launching a new venture comes with many difficult decisions and selecting the legal structure of a business is arguably one of the most important of them all. Within the different legal structures available, the multi-member Limited Liability…
