Skip to Main Content
Limited Liability Companies For Dummies, 3rd Edition
book

Limited Liability Companies For Dummies, 3rd Edition

by Jennifer Reuting
July 2019
Beginner content levelBeginner
368 pages
10h 26m
English
For Dummies
Content preview from Limited Liability Companies For Dummies, 3rd Edition

Chapter 3

Determining Whether an LLC Is Right for You

IN THIS CHAPTER

Bullet Comparing different entity types

Bullet Deciding which entity is right for your situation

As a corporate consultant, the most common question I get is “Which entity is right for me?” That’s also the question that’s hardest to answer. After all, the entity type that’s right for you depends wholly on your individual circumstances. You have to take into account all aspects of your business, such as the income you anticipate bringing in, the number of employees you intend to have, the amount of recordkeeping you’re comfortable with, the state(s) in which you will be operating, how you intend to obtain financing, your exit strategy, and other personal preferences.

The majority of the time, I can safely refer clients to the limited liability company simply because it’s so flexible that it can work for most business needs. However, that’s not always the case, and the worst time to find out you chose the wrong business structure is after the fact. As you find out in Chapter 7, where I deal with converting to and from different entity types, rectifying this mistake can result in a monstrous taxable event.

So this is where I help you avoid all that drama and get started in the right direction. This chapter compares LLCs with ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Limited Liability Companies For Dummies, 4th Edition

Limited Liability Companies For Dummies, 4th Edition

Jennifer Reuting
Corporate Finance, 5th Edition

Corporate Finance, 5th Edition

Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi

Publisher Resources

ISBN: 9781119602187Purchase book