What is Personal liability of owners of a business entity? Entity Theory Piercing the Corporate Veil What is Compensation of business owners? What is Taxation of a business entity? What is Sales & Use tax? What are payroll and self-employment taxes? What are the major characteristics of a So...
state and local tax related matters. For federal tax purposes personal liability can arise for the LLC's tax liabilities including the failure to remit the entity's payroll taxes. Section 6671(b) imposes liability for an entity's employment taxes on the person responsible for depositing such ta...
LLC is a business structure that combines the limited liability of a corporation with the flexibility of a partnership, where owners (members) are generally protected from personal liability for the company’s debts and obligations, and have options for pass-through taxation. LLC是一种结合了公司有...
A limited liability company (LLC) is a legal business structure that combines elements of a corporation and a partnership. Here’s a look at how LLCs work.
Having a good business credit score can improve your ability to secure loans for your small business. Learn more about the advantages of forming an LLC. LLC vs. sole proprietorship: What’s the difference? LLCSole Proprietorship Liability More personal liability protection for owners. No personal...
LLC stands for limited liability company. Forming an LLC is the simplest way of structuring your business to protect your personal assets in the event your business is sued. An LLC is the most popular business structure chosen by small business owners that offers: Personal liability protection of...
An LLC does just what it sounds like: it limits personal liability for business owners. It also splits business from your personal activities. Many people who create a business form an LLC toshield personal assetslike vehicles, homes and savings from legal or financial trouble, such as bankrupt...
The profits of an LLC are passed to the owners (called members) and taxed as personal income. This is referred to as pass-through taxation and only changes if the LLC elects to be taxed as an S-corporation or C-corporation. Limited liability and pass-through taxation are the two main ...
LLCs are important legal structures for forming a business. Limited liability means that the assets and debts of the business remain separate from the personal assets and debts of the LLC's owners. In most cases, if an LLC goes bankrupt, creditors can only go after the assets of the busine...
A limited liability company (LLC) is a type of business structure taxed like a partnership or sole proprietorship, where taxes are reported on the owners' personal tax returns, and any business liabilities belong to the business, not the owner. An S corporation (S corp) is a type of busine...