If you have or are starting a small business or own a residential or commercial income property, I usually recommend a Limited Liability Company. An LLC does not require as much paperwork as a corporation but can have all of the benefits, including a subchapter S tax election to reduce FICA or self-employment taxes.
A typical misconception about LLCs is that they will protect the owner from liability in all cases. Unfortunately, this is not the case. An LLC will limit one’s liability in only certain circumstances. An experienced attorney can explain how you can best be protected.
If you need a simple LLC, I will prepare one for a flat fee of $250 (plus filing and publication fees). In the process, I will assist you with the following:
- Verification of name availability
- Preparation of Articles of Organization
- Filing and Publication
- Tax ID number
- Preparation of Operating Agreement
- Consultation regarding liability protection and subchapter S tax election