Chapter 18
Ten Good Reasons to Form an LLC
IN THIS CHAPTER
Protecting your real estate, intellectual property, and personal assets with an LLC
Raising capital with your LLC
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.
Too many people simply form an LLC without realizing its power. They adopt a fill-in-the-blank operating agreement (yuck!) — if they bother to make one at all — and ...
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