Archive for llc
Oct
31
Family LLCs: Sharing the Wealth
Posted by: | CommentsFor years promoters have touted the use of Family Limited Partnerships (FLP) as a tool for owning and protecting assets and providing a mechanism for passing them on to the next generation. The FLP has been used so frequently that it could lead one to the impression that the FLP is a separate kind of entity. It isn’t. It is simply a Limited Partnership used for family purposes. Similarly, the LLC is becoming used for family purposes, which has coined the usage of the Family LLC.
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11 questions that can help you choose the best business entity for you Small business veterans may differ on politics, taxes, management styles and even on business models. But one thing they generally agree on is this: the business world is a dangerous place. In business, there is potential trouble literally everywhere - contracts, product liabilities, employee problems, intellectual property mistakes, etc. -...... - Average company juggles 37 lawsuits I don't know how I missed this one, but I'm glad I finally ran across it: the international law firm of Fulbright & Jaworski L.L.P. (whose company slogan is "When you think litigation insight, think Fulbright), released their second annual Litigation Trends Survey last October. It is a fascinating, 32-page......
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Oct
14
Husband & Wife Ownership of LLCs in Community Property States
Posted by: | CommentsI am frequently asked about the impact of a husband and wife owning the membership interest in an LLC in a community property state. It is and interesting issue that is unresolved in many respects.
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Related Posts - What are "Start-Up" costs? To the IRS, qualified start-up costs are those expenses that a business incurs while in the process of determining whether or not to start a new business, and which new business to begin. This is often called the "whether or which test". See IRS Rev. Rul. 99-23, 1999-1 CB 998.......
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Business lessons from snow camping with Boy Scouts This weekend I spent Friday and Saturday in the company of 11 young men and 4 adult leaders on an overnight snow camping expedition in the mountains. This involves digging a cave in the middle of a snowfield, and spending the night in it. For us, the temperature dropped to......
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