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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 19

Ten Good Reasons to Form an LLC

IN THIS CHAPTER

Bullet Protecting your real estate, intellectual property, and personal assets with an LLC

Bullet Raising capital with your LLC

Bullet Running your business in an LLC

By now, you’ve probably figured out that I think the LLC is the best entity structure around. And for good reason! LLCs are flexible — you can use them for practically any purpose — and they offer more benefits than any other entity type. They have a favorable pass-through tax status, and with the dual liability protection that LLCs offer, corporations and limited partnerships can’t compare.

What I love most about LLCs is that they are completely customizable. You can draft pretty much whatever rules you want in your operating agreement, even overriding many state laws with a simple paragraph. You can also choose whichever tax structure you want; LLCs can elect to be taxed like corporations or even S corporations.

Remember LLCs are a departure from all previous ways of doing business. They are the future, and that’s a good thing! Too many people simply form an LLC without realizing its ...

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Publisher Resources

ISBN: 9781119602187Purchase book