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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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Tax Status for Companies

When clients ask me what type of tax status they should elect for their company, I usually respond with, “Please ask that question to your CPA or Accountant.” After all, a good CPA or Accountant, who understands the needs of your business, is going to be able to make a good recommendation and help you […]

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Available Now! The Business Entity Decision Maker

LLCs, Anonymous LLCs, C Corps, S Corp, Sole Proprietor….  Could you use a little guidance? What IS the best structure for my business? There are many choices when it comes to how to setup your business.  As you might expect, every choice comes with certain rules and ramifications that will not only determine how your […]

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A S Corporation May Help You Save a Lot in Taxes

If you’re familiar with the different types of businesses out there, you’ve probably heard something about an S Corporation or “S-Corps”. Maybe a friend or colleague told you about some of their benefits, and maybe you’re even thinking about making one. Before you do, it’s important to understand why an S-Corp can be so beneficial […]

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From the Experts – Tax Forms

Going into business for yourself is exciting, and being your own boss can be both rewarding and financially lucrative. However, there is more to going into business than hanging out a shingle. There are numerous legal documents required, including tax related forms. Establishing Your Business The structure of your business is one of the most […]

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Moving a Pre-Existing Business Into a New Company

You listened to your business lawyer, and formed a limited liability company (called LLC) or corporation (such as a C-Corp or S-Corp), and you want to move your pre-existing business into the new company. This is actually a common question, and it’s really important that you do it right. How you do this, depends on […]

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President Trump’s Tax Plan: Time to Form Pass-Through Entities?

This is not an endorsement for or against President Trump or his recently introduced 2017 Tax Proposal. It is simply a discussion of the effects of pass-through entities. We’ve been encouraging business owners to create pass-through entities like a corporation or a limited liability company (LLC) for a long time. For example, way back in […]

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How to Dissolve a LLC Properly

Last week, I wrote a blog article entitled How to Properly Dissolve a For-Profit Corporation (in New Mexico), which detailed how to dissolve an S-Corp or C-Corp, which is different from a limited liability company, or LLC. In many ways, the process to dissolve a LLC is very similar to what I described in the […]

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