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Articles related to Limited Liability Companies (LLC)

Why a Pandemic Might Just be the Perfect Time to Start a Company (probably an LLC!)

The U.S. unemployment rate is at its highest rate since the Great Depression with roughly 36 million Americans now without work Even people who are still employed face increased worries about the future of their employment and are looking for new, creative ways to create an income for long-term financial stability during these uncertain times. […]

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L4SB’s Back 2 Business Sale!

15% site wide! Ok, America- Let’s get Back 2 Business! Start saving today on everything you need to get Back 2 Business! 15% off most of the products and services on our website- Business Formations, Operating Agreement, Trademarks, Human Resource Services, Contracts, Consultations and much more.  First year of Registered Agent Service Free with purchase […]

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Does LLC Status Shield Business Owners from Personal Liability Lawsuits?

Many business owners mistakenly believe that they cannot be held personally liable for actions that were committed by or through their company.  Although setting up your business as a separate legal entity is definitely a good way to separate the liability of your business for the liability of the individual owner, such as yourself, it does […]

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Applying for SBA Disaster Loans? Make Sure Your Operating Agreement Is Up to Date.

In the mad dash to get in line for the cash coming to business owners via the CARES Act, take a few minutes to reflect on your formation documents. Specifically, your Operating Agreement.   If your Operating Agreement is out of date, it could delay your access to the SBA disaster loans.  Why is an Operating […]

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Operating Agreements and Taxes: What You Need to Know

Operating Agreements and Taxes Hero Image

As you may have gathered from some of our previous articles (for example, read “Does your LLC have a proper Operating Agreement?” and “Important clauses for LLC Operating Agreements“), the Operating Agreement is the foundation of any limited liability company. If yours is missing a lot of key terms and conditions, or, even worse, if […]

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What is a Bad Operating Agreement?

I bet you could guess that most of our revenue as a law firm, comes from expensive litigation. But, did you know that most of that expensive litigation is due to partnership disputes involving a bad Operating Agreement? What is a Bad Operating Agreement? An inadequate Operating Agreement is either a free template you found […]

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Free Operating Agreement Template – Bad Idea!

A free operating agreement typically cause problems for your business

A Free Operating Agreement Template doesn’t make anyone money, so you have to wonder why companies make them available? As a law firm, it probably wouldn’t surprise you to hear that we make most of our money in legal fights — when our clients are in a knock-down, dragged-out fight in litigation. Some of our […]

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Selecting the Right State to Form Your LLC

This is one of those questions where if I was paid a quarter for every time I was asked this question, I would be a rich man indeed. There are many things to consider when choosing the right state to form your LLC in. What is the Right State to Form Your LLC? There is […]

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Important Clauses for LLC Operating Agreements

The Operating Agreement acts like a “partnership agreement” between the owners of a LLC. Important clauses for LLC Operating Agreements are critical, and a well-written and customized Operating Agreement for your business is essential to preventing very expensive problems from rearing their ugly heads years later. The problem for many business owners, is they formed […]

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