Moving to Colorado? If you, a friend, or a family member have recently moved to the Centennial State, and you’re wondering what to do with your LLC, look no further. I have your answer! You can do one of three things: you can register it as a foreign LLC; dissolve it and start anew; or create a new LLC and merge it with the old one. Keep It As A Foreign LLC A foreign LLC is one that’s registered in…
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…
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….
At the beginning of the new year, it’s a good idea to take stock in your business see what you’ve done well, and what can be improved on. Make a plan and make adjustments. Give your business every opportunity to grow to its fullest potential. Also, its a great time to review your existing documents and contracts to keep them up-to-date an ensure they are current. Lastly, I’ve included some ideas to save you some money in the upcoming year….
Simply defined an anonymous LLC is a limited liability company whose members are not publicly identifiable. By not disclosing to the Colorado Secretary of State ownership information, owners are able to maintain their privacy. Individual owners are able to have their business affairs remain confidential, as well as avoid harassment by sales persons or members of the public. The state of Colorado does not require members of an LLC to be publicly identifiable. Benefits An attorney creates an anonymous LLC…