Costly Mistake Number 3:
Forming an LLC and having it managed by members instead of managers* (A sure way to lose flexibility and control)
Entries Tagged 'Incorporation' ↓
Costly Mistakes – Continued…
July 7th, 2010 — Business Credit, Business Credit Builder, Business Credit Video, Business Financing, Business Startup, CPA, California Corporation, Credit Bureaus, Incorporation, LLC, Nevada Corporations, Other Business, Personal Credit, Small Business, Small Business Start-Up, Sole Proprietorship, State Incorporation Video, Taxes, Top Five Percent Club, Why Us, Work and Family, World Internet Summit
Creating A Foundation For Success
July 7th, 2010 — Business Credit, Business Startup, Incorporation, LLC, Nevada Corporations, S Corporation, Small Business, Small Business Start-Up, State Incorporation, State Incorporation Video, Why Us
Fast Business Start up
6 Items You Must Look for Before You Choose an Incorporating Company.
June 21st, 2010 — Incorporation, Nevada Corporations
1. Look for a company that will ask questions AND provide REAL answers to determine the best entity for your situation BEFORE quoting you a price. Not doing this would be like a doctor writing you a prescription without first giving you an exam! This should involve several questions, not just a “cookie-cutter” approach. Remember, if you want to do what is easiest you will get the results that come with such minimal effort — often even worse! Click here for typical questions that should be asked: http://www.nvinc.com/what_factors_affect.htm
Insurance Is Not A Fool-Proof Safety Net
May 24th, 2010 — Business Startup, Incorporation
Even though many professionals tell you that you’re protected by insurance, you can still spend a lot of money defending a lawsuit without ever having a claim against your insurance policy.
SE Taxes
May 24th, 2010 — Business Credit, Business Startup, Incorporation, Other Business, Small Business, Taxes
The KEY QUESTION: “ARE THESE PROFITS SUBJECT TO SELF EMPLOYMENT TAXES?”
According to an IRS official and a national issue specialist in its Examination Specialization Program, until the Service issues further guidance, it will not challenge limited liability company (LLC) members on self-employment (SE) tax if the member and the LLC conform to the most recent (1997) proposed regulations (REG-209824-96). These regulations, however, need clarification now on the definition of limited partner (LP).
