Often, we have dealt with clients who were friends or family members who set up an LLC by themselves without the assistance of counsel. They created a member managed LLC in Texas by simply filling out the Texas Form 205- Certificate of Formation- and paying the...
Often, we have dealt with clients who were friends or family members who set up an LLC by themselves without the assistance of counsel. They created a member managed LLC in Texas by simply filling out the Texas Form 205- Certificate of Formation- and paying the filing...
A limited liability company, or LLC, is one way that you can classify your business for legal purposes such as paying taxes to the Internal Revenue Service. There are tax benefits and perks to doing this, making LLCs the most popular form of business structure that...
People can develop successful businesses at any time. In fact, some of the strongest and best-known brands out there started during times of economic hardship or cultural changes. After a 2020 that presented individual and economics challenges, many people are looking...
Starting a business requires a concept or product idea. It requires a lot of time and planning. It will also require financial investment, likely both from yourself and from others outside of the business. Trying to raise capital to start a business can be a...
Many small businesses start with more than one person involved. Sometimes, two friends come up with a plan to launch their own coffee shop. Or two co-workers decide to create their own consulting firm after getting laid off. Starting your own business venture like...
The limited liability company (LLC) form of business organization is extremely popular and provides many advantages to its members. The benefits of this form of organization includes limited liability for its owners (known as members) and the avoidance of the double...
Some people who are forming a limited liability company (LLC) balk at the idea of creating a written operating agreement. They believe it is too large of a cost for a new company, and the agreement can always be written at a later date.The reality is that it is...
Thoughts on Asset ProtectionThere are many ways to protect your assets from creditors. The key is thinking far in advance and structuring your assets to protect them, years before any creditor surfaces. Asset protection is much more difficult once there are creditors...
If you are considering opening a business, it can seem as though the odds are against you. The harsh reality is that about 20 percent of new businesses nationwide do not even make it long enough to celebrate a one-year anniversary. Far fewer make it to a five-year...
