What is an LLC?
Nick Webb2017-01-25T18:40:02+00:00LLC stands for Limited Liability Company. It is one of the possible business entity structures business owners will use when forming their business.
Should my business be an LLC?
Nick Webb2017-01-25T18:40:59+00:00In Missouri and Kansas, the overwhelming number of small businesses start as LLCs. We started LexLaunch.Com to meet the needs of business owners who already know they want an LLC. An LLC, which stands for Limited Liability Company, is a relatively new form of business licensure. Designed with small businesses in mind, this status offers a slew [...]
How much does an LLC cost?
Nick Webb2017-01-25T18:42:04+00:00Online sites quote all kinds of prices for an “LLC.” In Missouri and Kansas, you can form a Limited Liability with the Secretary of State. That will get you “Articles of Organization,” a kind of “birth certificate” for the new LLC. Especially in Missouri, the forms look simple, but the options you check could affect [...]
How is an LLC taxed?
Nick Webb2017-01-25T18:42:11+00:00An LLC has the flexibility to choose how it is taxed. This can include being taxed as a partnership/sole proprietorship, as an “S” Corporation, or as a “C” Corporation. If an LLC is formed and no special elections are made with the IRS, then by default that LLC is taxed as a partnership. If the LLC wants [...]
What is the difference between an LLC and an S Corp?
Nick Webb2017-01-25T18:42:19+00:00The S Corp is a special type of tax classification. It’s a term for all the entities taxed under subchapter S in the federal tax code. In other words, you can’t “form” an S Corp. You form an LLC (or corporation, or other eligible entity), and then elect to have it taxed under subchapter S. [...]
Can you help my business qualify for S Corp classification?
Nick Webb2017-01-25T18:42:27+00:00We can create an LLC, which is then eligible to qualify for S Corp classification. In addition to meeting certain requirements, small businesses that wish to obtain this status must apply by submitting the appropriate tax forms to the IRS. Some of the qualifying criteria for S Corp status includes having fewer than 100 allowable [...]
I have real estate investments. Do I need an LLC?
Nick Webb2017-01-25T18:42:35+00:00Owning rental properties, flipping run down houses and sitting on undeveloped land are popular ways people use to earn some extra money on the side. The problem is that by owning these types of real estate investments it opens you and your family up to more risk of being sued. LLCs can help you reduce [...]
What’s the difference between an arbitration clause and a mediation clause? Do I need them for my small business?
Nick Webb2017-01-25T18:42:40+00:00A mediation clause says the owners will take serious disputes to a mediator, either before filing suit, or shortly after. The mediator doesn’t make a decision, but tries to see if there is room for compromise. Sometimes it’s easier to listen and talk to an outsider, and mediators often meet with the parties separately. Some [...]