A partnership is formed when two or more people agree to conduct business to make a profit. Every partnership needs to have a solid written agreement. Although not required by law, a partnership agreement is a crucial step to take to ensure there are no...
If you’re starting a business, you may wonder which entity is best for your needs. Limited Liability Companies (LLCs) are one of the most common structures used in business (LLC) for personal liability protection, tax benefits, and other advantages they offer. An LLC...
If you’re planning to structure your business as a single-member Limited Liability Company, you might wonder whether you need an operating agreement. You might need it for several reasons. Since having an operating agreement in place can save you significant...
As a shout-out to all my accountant readers and colleagues, I would like to discuss a corporate structure with an S Election – or the S-corporation structure. Many business owners choose to structure their companies as S-corporations. This status provides small...
If you’re the sole owner of a limited liability company, you might question, “does a single-member Limited Liability Company (“LLC”) need an operating agreement?” What is a Single Member LLC? An LLC is a business structure offering limited liability protection and...
If you are an entrepreneur or business owner, you may be aware that there are many advantages to forming a corporation. A corporation separates the shareholders from the entity and can provide personal liability protection. However, you may be wondering, “how do I...
