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By AllBusiness Editors In: Buying a Business Much has been made in the business world about the benefits of forming your business as a limited liability company LLC. Here are some more details on the advantages of an LLC: Although a limited liability company must file articles of organization with the state, it has a more flexible management structure than a corporation.
As its title suggests, the LLC protects owners and shareholders from personal liability in case of judgments or debts against the business.
An LLC can choose whether it wants to be taxed as a sole proprietorship, partnership, S corporation, or corporation. Like a corporation, an LLC has a life of its own and can continue to exist after the owners sell their shares or die.
Much like a limited partnership, members of an LLC can be investors only and have little or no say in the daily operation decisions of the business, as long as this is stated in the operating agreement.
Because of that, the LLC may be more suited to a one-person owner situation, as shareholders may not appreciate pass-through taxation.
Because of the lack of a strict corporate structure and the pass-through taxation, investors may be hesitant about putting their money into an LLC.
The lack of strict requirements for governing the business could mean problems down the road unless a detailed operating agreement is in place, which requires additional upfront costs such as attorney fees.I95 BUSINESS delivers direct access to business executives, decision-makers and professionals doing business in Baltimore's strategic business corridors.
Strategic planning (also referred to as business planning) is a process nonprofits use to make critical trade-offs to best achieve their goals. While these processes have varying degrees of formality and take different forms, they are clearly distinct from routine management activities and are intended to guide and inform key decisions toward.
Much has been made in the business world about the benefits of forming your business as a limited liability company (LLC).
But before you make the decision, it’s important to understand the advantages and disadvantages of this type of business structure. Business Consultants for Non-Profits provides low cost management consulting to southeastern Michigan nonprofits.
We specialize in board strengthening, strategic planning and various capacity building interventions - strategic and operational.
Aug 29, · Find new ideas and classic advice for global leaders from the world's best business and management experts. Strategic planning. Follow this topic. Following. Strategy work can be a. A career in business: That’s a dynamic concept that means different things to different people.
It covers jobs in organizations from the Fortune to feisty startups, and from mission-driven nonprofits to for-profit corporations as well as the public sector.