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2 05, 2019

What is the Difference Between an LLC and an LLP?

By |2019-05-02T20:51:45-07:00May 2nd, 2019|Categories: Business Formation, Business Planning, Limited Liability Company (LLC), Taxes|Tags: , , , , , , |0 Comments

If you are starting a new business, the business entity you set up will affect the extent of personal liability, how the business is taxed, its management, the level of formality required, and many other factors. There are a lot of options, which can make this decision overwhelming. Limited [...]

11 03, 2019

The Trust Protection Myth: Your Revocable Trust Protects Against Lawsuits

By |2019-03-05T12:09:17-07:00March 11th, 2019|Categories: Business Formation, Business Planning, Estate Planning|Tags: |0 Comments

WARNING:  Many people believe once they set up a Revocable Living Trust and transfer assets into the Trust, those assets are protected from lawsuits.  This is absolutely not true. While Trusts commonly offer asset protection for beneficiaries, few Trusts protect assets owned by the person who created the Trust. No [...]

7 03, 2019

Managing the Money Aspect of Your New Business: It’s Easier Than You Think

By |2019-03-04T14:13:33-07:00March 7th, 2019|Categories: Business Formation, Business Planning, Financial|Tags: |0 Comments

Coming up with a great idea that can be turned into a prosperous business venture takes a certain talent.  Knowing how to get your great idea financed and properly managed, takes another. However, it may be easier than you think.  What You Need, What You’ve Got, and Where to Get [...]

28 02, 2019

Don’t Let Change Wreck Your Business: The Buy-Sell Agreement

By |2019-02-26T20:39:44-07:00February 28th, 2019|Categories: Business Formation, Business Planning|Tags: |0 Comments

Divorce. An unexpected death, disability, or retirement. An irreconcilable dispute. These triggering events may put your successful, stable business into a tailspin. Luckily, a buy-sell agreement can help you and your business be better prepared to handle these events. What is a Buy-Sell Agreement? A buy-sell agreement is a [...]

19 02, 2019

Transferring LLC Membership Interests Part 2—Voluntary Transfers

By |2019-02-16T16:18:27-07:00February 19th, 2019|Categories: Business Formation, Business Planning, Contracts|Tags: |0 Comments

An LLC affords its members a certain amount of personal asset protection. Part of this protection hinges on the restricted transferability of LLC membership interests.  Restricted transferability protects the non-transferring members from creditors and unwelcome new members, which upholds the integrity and value of the non-transferring members’ membership interests. [...]

9 02, 2019

Stay in Control: Good LLC Governance

By |2019-02-06T19:26:51-07:00February 9th, 2019|Categories: Business Formation, Taxes|Tags: , |0 Comments

The LLC is a popular way to structure a business because it provides personal liability protection to the members-- like a corporation does to its shareholders--but without as many administrative formalities. But if you’re an LLC member, don’t let this lull you into complacency. As a business owner, you’re [...]

5 02, 2019

Does the “Corporate Veil” Really Protect Your Personal Assets?

By |2019-02-04T20:43:00-07:00February 5th, 2019|Categories: Business Formation, Business Planning, Litigation|Tags: , , |0 Comments

You may have done your homework and weighed your options. Perhaps you’ve even considered the tax and non-tax implications for common business entities. We bet you’re also intrigued by the protections certain business entities afford their owners. The “corporate veil” that protects personal assets of the business owners can make [...]

29 01, 2019

5 Reasons Your Single-Member LLC Needs an Operating Agreement

By |2019-01-28T13:06:19-07:00January 29th, 2019|Categories: Business Formation, Business Planning|Tags: , , , , |0 Comments

An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC - after all - why make an agreement with yourself? Is the [...]

18 01, 2019

3 Asset Protection Tips You Can Use Now

By |2019-01-14T19:21:26-07:00January 18th, 2019|Categories: Business Formation, Business Planning, Estate Planning, Questions, Taxes|Tags: , , , |1 Comment

A common misconception is that only wealthy families and people in high risk professions need to put together an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can cause a monetary judgment that will decimate your [...]