• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
    • Write For Us
  • Children
  • Education
  • Pets
  • DIY/Home
  • Wellness
  • Fashion
  • Travel
  • Finance
  • Tech

ABC At Home

Homeschooling Mommy Entrepreneur

5 Ways Forming an LLC Is Beneficial for You

March 20, 2018 by Lauren Palmer

Starting an LLC can have plenty of benefits for your company. While each business model has its benefits and drawbacks, LLC’s have become increasingly common because of their intrinsic compatibility with the modern business model. Here are five benefits of forming an LLC and what it will take to register your company:

  1. You Have Help: Starting a company on your own is extremely difficult. When you have a partner or associate who is willing to help with the details, they help shoulder the burden of leadership.
  2. Tax Breaks: Limited Liability companies experience pass through taxation which means that the owners and board members will be taxed based on their personal earnings, but the company will not have to pay taxes at all.
  3. Structural Flexibility: While traditional corporations require a rigid structure that includes a board of trustees, LLC’s have more flexibility and can often get away with choosing their own government structure.
  4. Less Paperwork: Because corporations have a strict structure, they have plenty of paperwork that needs to be filed before your business can operate.
  5. Personal Protection: Board members and partners within the LLC do not hold personal responsibility for company losses. This means that if your company is sued, you will not be personally liable for the losses.

How to Get a Federal Tax ID: When registering your company, you will need to fill out plenty of LLC forms. Fortunately, you can apply for your EIN or Tax ID online without the hassle of having to mail paperwork. In addition to registering your company on a federal level, you’ll need to register with your state. Once you receive your Tax ID, you can use that ID to open lines of credit for your new LLC.

LLC’s have plenty of benefits and are fairly easy to open. However, the ultimate choice of the best business model will depend on your business.

Filed Under: Finance Tagged With: business, business type, formation, LLC

Primary Sidebar

Follow us

  • facebook
  • twitter

Should You Leave a Humidifier on All Night for Baby?

Domestic Cleaning Tips – Cleaning Your Fridge

The Importance of Building Your Family Home

Footer

Recent Posts

  • Should You Leave a Humidifier on All Night for Baby?
  • Domestic Cleaning Tips – Cleaning Your Fridge
  • The Importance of Building Your Family Home
  • 3 DIY Home Projects You Can Do With Your Kids
  • 3 Picture Day Outfit Ideas for Little Girls

Tags

auto business career children company destinations DIY education entrepreneurship Europe family fashion finance fitness garden health health and wellness holiday home home improvements house interior design internet investing job kids learning marketing money parenting pet pets profession property real estate student study style tech technology trading travel vacation wellness yard

About Us

Welcome to ABC at Home! The woman/parenting/homeschooling/entrepreneur resource brought to you by a busy, but efficient mother! I write articles about travel, business, finance and many more subjects for stay-at-home parents (yes, that includes men too) so that our kids can thrive as much as we do.