Why form an LLC?
Forming a limited liability company (LLC) provides liability protection for any type of business, and should be among the first steps a new business owner takes. Starting an LLC can help protect personal assets while adding legitimacy to the company.
An LLC is one of the most popular entity types chosen by new business owners and start-ups. It's of the easiest entity types to set up and maintain with few annual requirements. One of the reasons an LLC is such a popular choice among small businesses is because it liability protections while being very easy to operate and maintain.
The benefits of an LLC
- Protect personal assets
Designate the business as a separate legal entity, preventing personally responsibilty for the debts of the business.
- Save money on taxes
Set your business up to take advantage of potential tax deductions and savings designed to help the LLC to grow and flourish.
- Build credibility
Establishing a professional identity provides the benefit of showing potential customers and investors that the business is legitimate and here to stay.
- We handle the paperwork
We make filing a business quick and painless. Answer a few simple questions about the business and we complete all the required filings.
Who should form an LLC?
In the US, there are over 21 million existing businesses that are unincorporated. And each year, more than 620,000 new businesses open. Though the incorporation process should be done when a business first opens, many start with marketing efforts first (like a website and advertising) before covering the legal basics. Just because a business has been around for a while, does not necessarily mean they are incorporated!
The most common types of businesses that form LLCs are:
- Medical professionals (doctors, dentists, etc.)
- Travel industry professionals
- Independant contractors
- Property owners
- Consultants and start-ups
- ...and so much more!