{"id":13527,"date":"2023-07-03T10:17:24","date_gmt":"2023-07-03T14:17:24","guid":{"rendered":"http:\/\/10.130.206.81\/?p=13527"},"modified":"2024-10-23T11:39:43","modified_gmt":"2024-10-23T15:39:43","slug":"should-you-organize-your-business-as-an-llc","status":"publish","type":"post","link":"http:\/\/10.130.206.81\/2023\/07\/03\/should-you-organize-your-business-as-an-llc\/","title":{"rendered":"Should You Organize Your Business as an LLC?"},"content":{"rendered":"
There’s a certain amount of risk that comes with owning a business. Accidents can happen no matter how well a company is run, and a lawsuit could be devastating if the business is found to be at fault.<\/p>\n<\/div><\/div><\/div>
A limited liability company (LLC) is a business structure that offers many of the same legal protections as a corporation. Establishing an LLC creates a separate legal entity to help shield a business owner’s personal assets from lawsuits brought against the firm by customers or employees.<\/p>\n
In theory, the financial exposure of the owners (members) would be limited to their stake in the company, but exceptions may include any business debt they personally guarantee or misdeeds (such as fraud) they carry out. But just like a corporation, an LLC can lose its limited liability if the owner does not follow formalities that continue to exhibit the separate existence of the business \u2014 which is known as “piercing the veil.”<\/p>\n
Beyond liability protection, there are some additional benefits associated with LLCs.<\/p>\n
The specific rules for forming an LLC vary by state, as do some of the tax rules and benefits. A written operating agreement that outlines the division of ownership, labor, and profits is a common requirement. It generally costs more to form and maintain an LLC than it does to operate as a sole proprietor or general partnership, but for many businesses the benefits may outweigh the costs.<\/p>\n
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2023<\/strong><\/p>\n<\/div>Non-deposit investment products and services are offered through CUSO Financial Services, LP (\u201cCFS\u201d) a registered broker-dealer(Member FINRA\/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA\/NCUSIF or other wise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS for investment services. Atria Wealth Solutions, Inc. (\u201cAtria\u201d) is a modern wealth management solutions holding company. Atria is not a registered broker-dealer and\/or Registered Investment Advisor and does not provide investment advice. Investment advice is only provided through Atria\u2019s subsidiaries. CUSO Financial Services, LP is a subsidiary of Atria.<\/h5>\n<\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":13528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"class_list":["post-13527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments"],"yoast_head":"\n