Reviews"In this book, author and attorney David M. Steingold presents readers with a comprehensive guide to forming and running a single-member limited liability corporation (SMLLC). The book covers LLCs and business structure basics; the taxation of SMLLCs; forming an SMLLC; financing, conversion, and dissolution; liability concerns for SMLLCs; running your SMLLC; financial record keeping and written resolutions; resolutions for a single-member LLC; and a wide variety of many other related subjects. The author is a practicing attorney based in Michigan." Eithne O'Leyne Editor, ProtoView
Table Of Content1. LLCs and Business Structure Basics2. Taxation of SMLLCs3. Forming Your SMLLC: An Overview4. Financing, Conversion, and Dissolution5. Liability Concerns for SMLLCs6. Running Your SMLLC: Additional Tasks7- Financial Record Keeping and Written ResolutionsAppendixes A. Sample SMLLC Operating AgreementB. Resolutions for a Single-Member LLCC. Using the Downloadable Forms Index
SynopsisLearn all you need to know about SMLLCs Single-member LLCs are the business entity of choice for small businesses with one owner. With an SMLLC, you get personal liability protection that you don't have with a sole proprietorship. Nolo's Guide to Single-Member LLCs has all the essential information you need to decide whether an SMLLC is the right choice for your business. It explains: how to form an SMLLC and why it can be a good business entity choice how limited liability protection works how to choose the proper tax treatment for your SMLLC the tasks involved in running your SMLLC, like paying taxes, filing annual reports, and keeping proper records. This edition explains SMLLC taxation, most importantly the 20% pass-through deduction available to SMLLC owners., Learn all you need to know about SMLLCs Single-member LLCs are the popular business entity of choice for small businesses with one owner. Easy to form and operate, single member LLCs combine some of the most desirable features of older, more traditional business structures like corporations, partnerships, and sole proprietorships. With a single member LLC, you get personal liability protection, pass-through taxation, and flexibility of management. This book provides an overview of everything you need to know about single member LLCs, including: - whether an SMLLC is right for you - what forms and documents you need to create an SMLLC - how to initially fund an SMLLC - how to prepare taxes for an SMLLC - what kinds of records you need to maintain for your SMLLC, and - liability issues specific to SMLLCs. The book includes a sample operating agreement and written consent forms to open a bank account, purchase real estate, and more. Throughout the book, you will find tips and examples to help clarify the most important points., Many sole proprietors are now looking to "legitimize" their businesses by forming a single-member LLC, which is the popular choice of entity because it is easy to form, simple to manage, and provides personal liability protection. This book provides the information business owners need to decide if an SMLLC is the right choice for them, and it walks them through the process for forming, funding, and maintaining the business. The focus is on single-member LLCs, as opposed to LLCs with more than one owner, and all of the tips, forms, and issues it discusses relate only to single-member LLCs.
LC Classification NumberKF1380.S74 2024