To understand why, consider this comparison: Scenario A: John starts a business in Michigan and registers his LLC in Michigan. He pays a filing fee and an ongoing maintenance fee each year to keep his LLC in good standing. Scenario B: Mike opens a business in Michigan but chooses to regis...
4. Consider creating an LLC operating agreement Not all states require LLCs to have an operating agreement, but it's an essential practice for all companies, especially if you have more than one owner. An operating agreement ensures everyone understands their responsibilities by detailing all the ...
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There are several to consider when weighing your decision. Unlimited liability One of the main risks of a sole proprietorship is liability for debts. If you can’t repay creditors, your own assets and home could be at risk. You also represent your business legally, which means you’re ...
Before registering a business as an LLC, consider these possible drawbacks. Limited liability has limits.A judge can rule that an LLC structure doesn’t protect your personal assets. The action is called “piercing the corporate veil,” and you can be at risk if, for example, you don’t ...
When should I drop a mutual fund from my portfolio? What’s the difference between a mutual fund and an ETF? Are Christian mutual funds legit? This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a ...
Launching a business can be thrilling, but it’s important to consider the business startup costs that come along with this process.From utility bills and operating expenses to marketing budgets and employee benefits, there are many business startup costs to plan for. Identifying and anticipating ...
In this context, availability refers to theproportion of time during which a service remains operational under normal conditions. It is calculated as: Availability = (Total Elapsed Time - Total Downtime) / Total Elapsed Time This means that functionally, we can consider availability to be the inv...
When working on your website, you will often find WordPress tutorials asking you to add code to your theme’sfunctions.php fileor a site-specific plugin. WordPress doesn’t come with a site-specific plugin. You will need to create your own and then install and activate it. ...
Like pretty much every financial decision, there are pros and cons. Saving for retirement is good regardless of whether you use a traditional 401(k) or a Roth 401(k). There are five main scenarios when a business owner should really consider a Roth Solo 401(k). ...