When to Start an LLC for Real Estate
When to Start an LLC: Real Estate Guide Choosing when to start an LLC for real estate can feel overwhelming. You need to get an attorney to help form the real estate LLC, draft the operating agreement, articles of organization, get the federal employer identification number, and even pick a name. But it is not […]
How to Tell When to Start an LLC for Your Business
Your startup’s decision between a sole proprietorship, LLC, or corporation is crucial for protecting your personal assets and managing taxes. A sole proprietorship offers no liability protection, meaning your personal assets are at risk. An LLC, or limited liability company, is a whole different legal entity from you! This provides a layer of liability protection […]
How to Exit Your LLC Successfully – Expert Guide
Exiting an LLC is a complex yet crucial process. A strategic exit plan can safeguard your interests, ensuring a smooth and profitable transition from your business. Without a clear pathway out, you might encounter unforeseen legal issues, financial shortfalls, or potential damage to your hard-earned professional standing. Plan your exit carefully and don’t forget to […]
LLC Formation: Key Steps for Setting Up Your Business Legally
Business or company formation can be extremely simple, or so complex that it requires charts to keep all the related entities straight. Most LLCs start in uncharted waters with a single member limited liability company (LLC) with minimal formation documents, Countless entrepreneurs embark on similar voyages with hope and ambition. Protect your asset early on […]
LLC or C-Corp: Making the Best Choice for Your Business
Imagine you’re at a crossroads, with two diverging paths that lead to distinct business futures. Choosing between these paths by selecting between an LLC, a C-Corp, or maybe even an S corp, can set the trajectory of your business operations and your tax rates. Decisions shape destinies. While any corporate formation will provide you with […]
LLC Valuation: Understanding Membership Interest Value
In the competitive realm of business, determining the value of one’s stake in an LLC is indispensable. Accurately appraising this ownership percentage ensures equitable transactions, whether it’s a sale, buyout, or transfer. Failing to establish a fair valuation can lead to contentious disputes, undermining both financial interests and professional relationships. The LLC Operating Agreement should […]
How to Transfer LLC Ownership in Illinois: Tips and Best Practices
What is the process of transferring LLC ownership in Illinois? Transferring LLC ownership in Illinois can be a complex process, but it can be done smoothly with proper planning and execution. There are various reasons why you might want to transfer LLC ownership, such as a change in ownership, a sale of ownership, or a […]
How to Buy an LLC: Tips for Entrepreneurs
What type of business entity is an LLC? An LLC, or a limited liability company, is a type of business entity that provides both the benefits of a corporation and a partnership. It offers the protection of personal assets that a corporation provides, while also being taxed like a partnership, with the profits and losses […]
What Company Structure Is Right For My Cannabis Startup
Finding the Right Company Structure for a Cannabis Startup Many business owners find themselves asking, ‘what company is right for my cannabis startup’ when getting into the licensed marijuana industry. After helping form lots of cannabis companies, the conclusion that the limited liability company (LLC) organization structure is almost always the right choice is an easy […]
How to start an LLC in Illinois?
Establishing an LLC can feel complicated if you are new to the process and do not know all the steps. LLCs in Illinois are governed by the Limited Liability Company Act. We’ve done the research and put together this simple guide to forming an LLC in Illinois. What is a Limited Liability Company? An LLC, […]
