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Tag: LLC

S-Corp Election: What They Don’t Tell You

S-Corp Election: What They Don’t Tell You

I often come across small business owners who’ve made the S-Corp election for their LLC. Usually, after learning about their business, I’m at odds why they choose to do this. I understand by making the election an owner can save on self-employment taxes through a reasonable salary and dividend payments. I believe however, in the majority of instances, the tax savings to the business owners, do not outweigh the legal and tax advantages lost to the LLC on making the…

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Your Colorado LLC Doesn’t Belong in Delaware

Your Colorado LLC Doesn’t Belong in Delaware

Your Colorado LLC doesn’t need to be formed in Delaware. Many Colorado entrepreneurs mistaking believe forming an LLC in Delaware will give them added tax benefits as well as liability protection. Quite the contrary. Forming a Delaware LLC may not be the best thing for Colorado business and here’s why. YOU’LL NEED TO REGISTER AS A FOREIGN LLC IN COLORADO If you want to conduct in the state of Colorado you’ll have to register of a either a domestic or…

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Adding A Member to Your Single Member LLC

Adding A Member to Your Single Member LLC

Adding a member to your LLC is a big step in the growth of your business. Perhaps your looking to gain a partner in the business. Or you have an investor ready to invest cash to help it grow and expand. Or perhaps you have a dedicated employee who you liked to reward or recognized for their years of hard work. Don’t take this process lightly. There are many legal and tax consequences to contend with if not done correctly….

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Home Based Business Start Up Guide

Home Based Business Start Up Guide

Home-based businesses are part of the American entrepreneurial spirit. Disney, Apple, Microsoft, Google, and Amazon are just a handful of companies which got their start in a garage. If you’re thinking about starting a home-based business, use the guide below to assist you before investing your time, money and effort, in your new venture. Even if your home-based business has been up and running a while, use the guide to give your business a quick audit. Choose Business Entity One…

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Start-up LLC Check List

Start-up LLC Check List

New LLC Starting an LLC can be a daunting process, and getting off on the right foot is important. Moreover, in the event you get sued or audited, the court will look to see if the LLC is conducting itself as its own separate entity rather than an alter ego of you personally. If the court does find the LLC is an alter ego of yourself, then you will be held personally liable for instead of the start-up LLC. Similarly,…

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