When I first started researching how to form an LLC, I have to say: the articles I read made it seem like a super difficult process that required a fancy lawyer or expensive service. Thankfully, it isn’t (for the most part). I formed my LLC in August (yay!) and I’m proud to say that now … Read More
LLC's are one of the most commonly chosen business entities because of the amount of protection it affords as well as the way that its taxed. LLC's are considered flow-through entities, meaning that they are disregarded as corporations and that the income is passed down directly to the owners or investors. Starting an LLC is not that hard at all. Here are 7 steps to legally start your LLC.
As a freelancer, you’ve probably heard the words LLC and S corp floating around. And you probably need to decide which one to form. But how do you know which one is best for your business when you don\'t even know the difference between an LLC and S Corp? We got you. Click through to learn about the differences and benefits of an LLC and S corp and how to know which is best for your freelance business. #Hyke #TipsForFreelancers #MillennialTips #Freelancer #LLC #SCorp #LegalTips #SelfEmployed
Answer: You can record this an an owners’ draw from your business. This is not an expense. You can write yourself a check, or just make a transfer from your business banking account to your personal banking account. Owner draws should not show up on your income statement.
Establishing your LLC can be an exciting affair. But before you kick up your heels and celebrate with an artisan cocktail, there are a few things you need to do first. And one of those things is coming up with an operating agreement. An operating agreement is a legal document that establishes how your LLC […]