When To Get An LLC
In most circumstances, you really need to create a business entity instead of operating as an individual. An LLC is often the best option.
Have you ever wondered… do I need an LLC for my business? Don’t worry, we are here to help. An LLC stands for “Limited Liability Company”. An LLC is mainly setup to protect the members’ personal assets and keep them separate from the business’s creditors.
Why is it important to keep personal assets and business assets separated? Here’s an example: Let’s say your business were to be sued or have unpaid creditors due to some unforeseen circumstance. If you don’t have an LLC, then lawyers and creditors can come after your business assets PLUS your personal home, bank accounts, and other personal assets. By having an LLC in place, your personal assets can be protected. Even if something happens to your business, your personal assets are safe.
Protecting your personal assets means everything to you and your family, and creating an LLC has even more benefits. When we create your LLC, we also help build the structure for your business. First, we register your name with the state. Did you know two business entities can’t have the same name in the same state? Next, we create your LLC by choosing a registered agent, filing Articles of Organization, and creating an Operating Agreement.
Finally, your CPA or our office can obtain an Employee Identification Number that you will use for tax purposes. Have you ever had to use your Social Security Number for your paperwork on your business? With an EIN number, your SSN is safe and you no longer use it on documents that can end up in the wrong hands.
These are just a few benefits of an LLC. At Assertion Law Firm LLC and 417 Business & Elder Law, we are well versed in state law and can provide you with expertise to create your LLC and ensure that the specific legal issues that impact your individual business are addressed. Call us today to set up an appointment!
In most circumstances, you really need to create a business entity instead of operating as an individual. An LLC is often the best option.
