Congratulations! You just asked the best question (which is why it’s also at the top of the FAQs). You know (or at least should know) your business best, and so that also means you know what liabilities you may face. Make a list. Call up your insurance broker (you have one, right?) and talk through […]
An LLC, or limited liability company, is a type of entity that protects its owners (members) and managers from liability, unless they personally do bad things. Like a corporation, an LLC happens when its Articles of Organization are filed with the state authority. In California, this is generally an online form. Keep in mind, there […]
You would think the answer to this is obvious, and sometimes it is. The short answer: A partnership consists of two or more individuals who operate as co-owners of a for-profit business. The partnership exists whether or not the participants intend to form an official partnership (a de facto partnership). The longer explanation: Please contact […]
A C Corporation is a Corporation that hasn’t elected under the Internal Revenue Code to be taxed as an S Corporation. The best way to describe it is to check out what an S Corporation is. Trust me… it’s not circular.
An S Corporation is a corporation that has made an election (i.e., timely filed a form) to be taxed as a “pass-through”, i.e., the corporation itself is generally not taxed, but all of the taxes for profits and income, as well as for losses and expenses, are passed through to become the obligations of the […]
You could. But you’d want a good reason to. For example, if you live there and are planning on running your business from there, makes sense. If you’re running your business in California, then incorporating in Nevada may be due to more nefarious reasons. Some attorneys like to organize their clients in Nevada because reaching […]