LLC Help Guides

How to Best Use LLCs in a Subsidiary Structure
In situations where you have multiple business ventures, it might make sense to create a pyramid of several businesses instead of having many separate entities with no connection to each other. Under that structure you may have one large holding company, and each independent venture is a distinct entity on its own. For example, Walt Disney Company o...
How Does an LLC Open a Business Bank Account?
Limited liability companies (LLCs) are a hybrid legal entity that offer small businesses two attractive benefits: pass-through taxation and limited liability. Someone who wants to grow their company without access to startup capital can use business losses to offset the taxes on other income—an attractive option when you are first starting out. At t...
Using LLCs for Estate Planning
An LLC, or Limited Liability Company, is a business entity that is separate and apart from its owner(s). It offers asset protection and a less complicated tax and formal structure than a corporation. Small businesses and individuals often use......
Member-Managed vs. Manager-Managed LLCs
When setting up a business, you do not need to incorporate as a corporation if you do not want to have all of the formalities associated with a corporation. However, you are still able to benefit from most of the protections of a corporation......
When Is It Time to Transition to a Corporation or LLC
When many people first launch their business, they often start out as a sole proprietorship or a partnership. Sometimes the decision to use this type of structure is one of convenience—it is much easier to set up a sole proprietorship compared......
Disaster Could Strike Your LLC without an Operating Agreement
Once you have decided to set up your Limited Liability Company (LLC), it is advisable to create an LLC operating agreement. This enables you to structure your working and financial relationships with any joint owners that are best suited to......
Which Is Better for You: LLC or Corporation?
When you are in the beginning stages of your business, one of the biggest decisions that you have to make is the type of business structure you should form. There are many options available, but for many new business owners the decision comes......
S Corporation or LLC: What Is the Best Pass-Through Entity for You?
There are numerous things to think about when starting a business—one of them being the structure your business will operate under. Some entrepreneurs elect to use a pass-through entity to avoid higher taxes commonly found with corporations.......
Changing Your LLC Operating Agreement to Reflect the Growth of Your Business
Limited liability corporations (LLCs) are a relative newcomer to the tax code. They were first approved for use in 1977 when the state of Wyoming requested the formation of a business that could be managed and taxed like a partnership but......
Forming an LLC: 11 Steps to Take after Your Business Is Established
Congratulations! If you have recently organized your business as a Limited Liability Company (LLC), you have taken the first step to becoming a proud business owner. Forming an LLC involves registering your company with the state, filing an......