Single Member LLC

What Is the LLC Tax Rate?

Before forming an LLC, many entrepreneurs ask about the standard LLC tax rate to see if this form of entity is a solid option for their new business. This is an excellent question and one that can be best answered by exploring what an LLC is and how it is taxed. The LLC (limited liability company) business entity type is one of the most popular selected by small business owners. It shields the owner’s personal assets from the liabilities of the business and may result in some tax savings to boot. The LLC is an entity formed according [...]

2018-08-02T13:34:10+00:00 August 2nd, 2018|Categories: Ongoing Management and Protection|Tags: , , , , , |

Is a Farm LLC Really Necessary?

Starting and running a farming business provides opportunity and the freedom to forge your own professional path. There’s hard work involved, of course—farming is a 24/7 commitment. And an agricultural business comes with many of the same risks that other types of companies do—and some that other types of businesses do not. A farming business faces many uncontrollable threats such as economic downturns, droughts, floods, accidents related to the use of large equipment, unseasonable freezing weather, and even food trends that may put certain ingredients on the outs. Farming, while it can be fulfilling and financially sustaining, comes [...]

2017-12-06T15:12:20+00:00 December 6th, 2017|Categories: Startup and Launch|Tags: , , , , |

Dissolve an LLC With These Six Easy Steps

For a variety of reasons, entrepreneurs may decide to close the business they worked so hard to start and grow. Situations change and the need to dissolve an LLC or corporation may need to be addressed. An entrepreneur can grow tired of small business ownership or may simply want to retire. Possibly the business has been losing money or it isn't as profitable as it needs to be. Regardless of the reasons, an LLC needs to be dissolved in a formal and methodical manner. This task doesn't have to feel daunting. Our six easy steps will provide a guide [...]

Breaking Down Business Entity Types

One of the most important steps you’ll need to make when starting your business is reviewing business entity types and deciding which one you should choose for your company. The structure you pick will affect your business from legal and tax obligation standpoints. That’s why it pays to understand the various business entity types—and the potential advantages and downsides of each. I recommend talking with a business attorney and accounting professional for guidance. In the meantime, I’m going to share some information about the most commonly used business structures to give you a head start in furthering your [...]

Is A Real Estate LLC Really Necessary?

A Real Estate LLC (Limited Liability Company) business structure has become a preferred entity of real estate investors for holding title to investment properties. That’s not too surprising considering the advantages of forming an LLC: It limits personal liability. It provides tax treatment flexibility. It’s relatively simple to establish and maintain. It’s less costly to set up and maintain. It offers more flexibility in how you distribute profits. It makes it easier to pass real estate investments to your loved ones. An individual or a company beyond the United States can own it. Let’s dive deeper into each [...]

2017-09-12T11:30:43+00:00 August 16th, 2017|Categories: Startup and Launch|Tags: , , , , , , , |

Nellie in the News: December 2016

Happy December and Happy Holidays! With the new year only a few days away, it is time to re-evaluate your business! This month, our CEO, Nellie has been busy all over the internet with different informational articles that could help your business prepare for the fast approaching 2017! Interviews & press Mentions Monster.com - When Is it Time to Hire Another Employee? http://mnstr.me/2gQYfDn Feedspot - Top 100 Small Business Blogs On the Web http://bit.ly/2glhyry TenFold - 20 Experts Answer: What's Your #1 Sales Follow Up Tip? http://bit.ly/2gWB7m4 Small Business Advocate - When Is the Right Time to Change yor Business to [...]

2017-11-08T07:07:04+00:00 December 29th, 2016|Categories: Nellie in the News|Tags: , , , , , |

The Formation of an LLC or S Corp: What You Need to Know

The most common way to create an S Corp is to first form a limited liability company (LLC) then elect to be taxed as an S Corporation. But, the S Corp election can wait. And more importantly should wait. Why? $40,000 net income after expenses is the break-even point for an S-Corp. Not sure what you’ll earn? Not to worry, we can elect S Corp as far back as 3 ½ years using special IRS Revenue Procedures (as opposed to the 75 days provided in the Form 2553 instructions). Stay tuned for our next blog article on the late — as in super late — election.

2017-12-22T11:50:17+00:00 May 16th, 2015|Categories: Startup and Launch|Tags: , , , |

Will an LLC Help Lower Your Business Taxes?

The key reason to form an LLC (Limited Liability Company) is to shield the personal assets of the owners from that of the business. This means that if your company has bad debts or is sued, banks and other lenders cannot seize your personal property. But let’s face it. For many small business owners, questions about forming an LLC typically boil down to a single topic… taxes which is discussed in more detail in this post.

2018-01-10T12:06:22+00:00 November 14th, 2012|Categories: Startup and Launch|Tags: , , |

Legal Tips for Every Entrepreneur

As an entrepreneur myself, I know that when you're putting in long days to release your new site or find new customers, working on legal paperwork doesn't rank high on your priority list. But getting your legal ducks in a row will help you scale far more smoothly, avoid legal pitfalls in the coming years, and yes, even help you save money on taxes.