Comments for LLC Answers http://thellcexpert.com/llcanswers Limited Liability Company Knowledge Tue, 06 Jan 2009 00:42:23 +0000 http://wordpress.org/?v=2.6.2 Comment on Can I Form an LLC to Avoid Existing Personal Liabilities/Claims? by Amyli McDaniel http://thellcexpert.com/llcanswers/can-i-form-an-llc-to-avoid-existing-personal-liabilitiesclaims/#comment-158 Amyli McDaniel Tue, 23 Dec 2008 00:54:27 +0000 http://thellcexpert.com/llcanswers/?p=40#comment-158 As long as the new LLC entity does not contractually assume the personal liabilities of an owner, then it will not be held liable for them. However, if there are affirmative actions taken by the LLC to undertake the responsibility, then once an LLC assumes a liability it is on the hook. As long as the new LLC entity does not contractually assume the personal liabilities of an owner, then it will not be held liable for them. However, if there are affirmative actions taken by the LLC to undertake the responsibility, then once an LLC assumes a liability it is on the hook.

]]> Comment on Why Start an LLC- LLC Protection Explained with Real Examples by Amyli McDaniel http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/#comment-157 Amyli McDaniel Tue, 23 Dec 2008 00:52:01 +0000 http://thellcexpert.com/llcanswers/?p=237#comment-157 I do not believe that the formation of an LLC itself requires a lawyer unless the business has other investors (such as angels or venture capitalists) that are insisting that additional provisions be included in the official formation documents. In fact, many lawyers outsource the administrative filing requirement to organize an LLC for their clients. . . to companies such as The LLC Expert. However, I do think that it is always beneficial and recommended to obtain legal advice from a competent business lawyer when it comes to post formation matters such as the structuring of the LLC (which includes ownership, management and tax issues). This becomes especially important for a multi-member business. Having said this, it is a known fact that while the ideal solution for every business is to have a proper legal adviser, over 90% of small business owners will not get one at the beginning of their entrepreneurial journey. So, the second best alternative is to make some investment in educating yourself about LLC formation and governance matters. I do not believe that the formation of an LLC itself requires a lawyer unless the business has other investors (such as angels or venture capitalists) that are insisting that additional provisions be included in the official formation documents.

In fact, many lawyers outsource the administrative filing requirement to organize an LLC for their clients. . . to companies such as The LLC Expert.

However, I do think that it is always beneficial and recommended to obtain legal advice from a competent business lawyer when it comes to post formation matters such as the structuring of the LLC (which includes ownership, management and tax issues). This becomes especially important for a multi-member business.

Having said this, it is a known fact that while the ideal solution for every business is to have a proper legal adviser, over 90% of small business owners will not get one at the beginning of their entrepreneurial journey. So, the second best alternative is to make some investment in educating yourself about LLC formation and governance matters.

]]> Comment on Why Start an LLC- LLC Protection Explained with Real Examples by Hybrid Business http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/#comment-155 Hybrid Business Mon, 22 Dec 2008 20:50:12 +0000 http://thellcexpert.com/llcanswers/?p=237#comment-155 Informative video! Thanks for taking the time to put this together. When discussing setting up an LLC, you mention that it is often a good idea to hire a business lawyer or a LLC formation service (for a cheaper option). Although it is cheaper to form an LLC yourself or hire a service to help, would you suggest paying a little bit more and hiring a lawyer to help with this process? Informative video! Thanks for taking the time to put this together. When discussing setting up an LLC, you mention that it is often a good idea to hire a business lawyer or a LLC formation service (for a cheaper option). Although it is cheaper to form an LLC yourself or hire a service to help, would you suggest paying a little bit more and hiring a lawyer to help with this process?

]]> Comment on Why Start an LLC- LLC Protection Explained with Real Examples by Start an LLC to Prevent Being Personally Sued for Your Internet Business | Intelligent Biz Planning http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/#comment-154 Start an LLC to Prevent Being Personally Sued for Your Internet Business | Intelligent Biz Planning Mon, 22 Dec 2008 16:43:38 +0000 http://thellcexpert.com/llcanswers/?p=237#comment-154 [...] Watch the short video here for more details: LLC Protection Explained [...] [...] Watch the short video here for more details: LLC Protection Explained [...]

]]> Comment on Can I Form an LLC to Avoid Existing Personal Liabilities/Claims? by David O'Grady http://thellcexpert.com/llcanswers/can-i-form-an-llc-to-avoid-existing-personal-liabilitiesclaims/#comment-140 David O'Grady Sat, 13 Dec 2008 00:07:25 +0000 http://thellcexpert.com/llcanswers/?p=40#comment-140 Does forming an LLC protect the LLC/Entity from personal liabilities, judgements or lawsuits the forming Member has prior to forming the LLC? I ask this not as a means of avoiding the personal liabilities long term, however need to protect my Business LLC/Entity as I settle " Personal " outstanding liabilities. Thank you David O'Grady Does forming an LLC protect the LLC/Entity from personal liabilities, judgements or lawsuits the forming Member has prior to forming the LLC?

I ask this not as a means of avoiding the personal liabilities long term, however need to protect my Business LLC/Entity as I settle ” Personal ” outstanding liabilities.

Thank you
David O’Grady

]]> Comment on Starting an LLC- How Do I Know if My Name is Available? by Starting an LLC- Three Essential Points « Starting an LLC- Three Necessary Points http://thellcexpert.com/llcanswers/starting-an-llc-name-search/#comment-97 Starting an LLC- Three Essential Points « Starting an LLC- Three Necessary Points Thu, 20 Nov 2008 03:05:52 +0000 http://thellcexpert.com/llcanswers/?p=193#comment-97 [...] Starting an LLC- Three Essential Points Given the lawsuit happy world we live in, it is essential that a new business owner also start an LLC to run his business for protection. This LLC entity’s main benefit is that if provides the owners of a business with liability protection between the business and the personal assets of the owners.This article address three important matters to consider in this process of starting an llc. [...] [...] Starting an LLC- Three Essential Points Given the lawsuit happy world we live in, it is essential that a new business owner also start an LLC to run his business for protection. This LLC entity’s main benefit is that if provides the owners of a business with liability protection between the business and the personal assets of the owners.This article address three important matters to consider in this process of starting an llc. [...]

]]> Comment on LLC Tax: Do I Pay Tax On Profits That Remain in the LLC Business by Mike Harmon http://thellcexpert.com/llcanswers/llc-tax-do-i-pay-tax-on-profits-that-remain-in-the-llc-business/#comment-35 Mike Harmon Mon, 03 Nov 2008 14:00:15 +0000 http://thellcexpert.com/llcanswers/?p=182#comment-35 Great post. I will read your posts frequently. Added you to the RSS reader. Great post. I will read your posts frequently. Added you to the RSS reader.

]]> Comment on How Do I Transfer Property to my Real Estate LLC? by Real Estate Lawyer http://thellcexpert.com/llcanswers/real-estate-llc/#comment-30 Real Estate Lawyer Mon, 20 Oct 2008 12:55:04 +0000 http://thellcexpert.com/llcanswers/?p=111#comment-30 Losing your home or property can be one of the most devistating experiences a person can have happen to them in their life, let us fight for your rights to protect what belongs to you! http://www.azrealestatelawfirm.com 877-990-0002 Losing your home or property can be one of the most devistating experiences a person can have happen to them in their life, let us fight for your rights to

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]]> Comment on Checklist to Forming an LLC | Limited Liability Company by After LLC Formation, Do I need a business license? | LLC Answers http://thellcexpert.com/llcanswers/checklist-to-forming-an-llc-limited-liability-company/#comment-28 After LLC Formation, Do I need a business license? | LLC Answers Sat, 18 Oct 2008 00:58:34 +0000 http://thellcexpert.com/llcanswers/?p=28#comment-28 [...] more information on forming an LLC, check out other posts under this category. Share and [...] [...] more information on forming an LLC, check out other posts under this category. Share and [...]

]]> Comment on Limited Liability Company LLC or Corporation? by limited liability company tax http://thellcexpert.com/llcanswers/limited-liability-company-llc-or-corporation/#comment-22 limited liability company tax Wed, 15 Oct 2008 08:21:04 +0000 http://thellcexpert.com/llcanswers/?p=75#comment-22 <strong>limited liability company tax...</strong> Well spoken. I have to research more on this as it is really vital info.... limited liability company tax…

Well spoken. I have to research more on this as it is really vital info….

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