Limited Liability Companies For Dummies, 4th Edition

Limited Liability Companies For Dummies, 4th Edition

by Jennifer Reuting
Released July 2023
Publisher(s): For Dummies
ISBN: 9781394183333

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Book description

There’s no better time than now to start a new business and tap into the power of the LLC

LLCs For Dummies is your comprehensive guide to limited liability companies. You’ll explore whether an LLC is the right business structure for your business, how to set up a corporate structure and membership, and the best ways of managing an LLC. Author Jennifer Reuting explains the pros and cons of LLCs and shares insider tips on choosing members, selecting a company name, creating and filing Articles of Organization, managing day-to-day operations, and beyond. This updated edition covers all the latest tax and regulatory information, plus new laws that make it more attractive than ever to start your own business. You’ll also find real-world advice on customizing your LLC for your specific business needs, creating a great operating agreement, keeping accurate records, and filing the proper paperwork with Uncle Sam.

  • Learn to start a new business by founding a limited liability company (LLC)
  • Get a handle on the differences between LLCs and other business structures, including state-specific tips
  • Keep up on the latest information on federal taxes, regulations, and fees
  • Discover online tools, new documents and forms, and helpful resources

Anyone who wants to learn the best practices of LLC formation, management, and long-term growth will love this beginner-friendly Dummies guide.

Table of contents

  1. Cover
  2. Title Page
  3. Copyright
  4. Introduction
    1. About This Book
    2. Foolish Assumptions
    3. Icons Used in This Book
    4. Beyond the Book
    5. Where to Go from Here
  5. Part 1: The ABCs of LLCs
    1. Chapter 1: What Is an LLC, Really?
      1. Understanding How LLCs Work
      2. Creating Your Own LLC: Your First Step Toward Success
      3. Operating Your LLC
    2. Chapter 2: LLCs: Handier Than Duct Tape!
      1. Understanding Why LLCs Are Awesome
      2. Taking a Look at a Few Wrinkles
      3. Discovering the LLC’s Many Variations
    3. Chapter 3: Determining Whether an LLC Is Right for You
      1. Knowing Your Options: Other Business Structures
      2. Getting Personal: Using an LLC to Achieve Your Specific Goals
  6. Part 2: Your First Steps: Forming Your LLC
    1. Chapter 4: Making a Few Key Decisions
      1. Stepping into the Driver’s Seat: Making Essential Decisions Before Forming Your LLC
      2. Naming Your LLC
      3. Determining the Availability of a Name
      4. Changing Your Name
      5. Choosing the Best State for Your LLC
      6. Looking for LLCs Out of State
      7. Working with a State-Required Registered Agent
    2. Chapter 5: Creating and Filing Your Articles of Organization
      1. Preparing Your Articles
      2. Filing Your Articles
      3. Considering Formation Companies
    3. Chapter 6: Converting Your Current Business into an LLC
      1. Considering Conversion to an LLC
      2. Navigating the Tax Implications
      3. Executing the Conversion
      4. Tying Up Loose Ends After the Conversion
  7. Part 3: Structuring Your LLC to Work For You
    1. Chapter 7: Tell Uncle Sam How It Is! Choosing How You Want to Be Taxed
      1. Getting to Know the Tax Types
      2. Notifying the IRS of Your Election
    2. Chapter 8: Make It Official! Getting Started on Your Operating Agreement
      1. What Is an Operating Agreement?
      2. Establishing Your Framework
      3. Drafting Basic Provisions
    3. Chapter 9: Structuring Your Partnership
      1. Understanding the Terminology: Members, Interests, and Certificates
      2. Locating and Recruiting Key Partners
      3. Issuing the Membership
      4. Making Folks Earn Their Share: Membership Vesting
      5. Setting Up a Single-Member LLC
      6. Setting Up Rules for Managers
    4. Chapter 10: Using Your LLC to Attract Investors
      1. Structuring Your LLC to Attract Investors
      2. Appeasing the SEC with an LLC
      3. Flying through State Securities Laws (Blue Sky Laws)
    5. Chapter 11: Membership Moves: Mastering LLC Transfers
      1. Investigating Intricacies of LLC Membership Interests
      2. Preparing Now For an Easy Transition Later
      3. Executing the Transition
      4. Wrapping Up the Operating Agreement
  8. Part 4: Running Your Brand-New LLC
    1. Chapter 12: Maintaining Your Records (and Sanity)
      1. Filing Your Initial Report
      2. Paying to Play: Business Licenses
      3. Meeting Other Pertinent Requirements
      4. (Record) Keeping Your Liability Protection
    2. Chapter 13: Making Cents of Taxes
      1. Reviewing the Tax Types
      2. Filing Your Federal Returns
      3. Avoiding LLC Tax Traps
    3. Chapter 14: Expanding Your Empire: Going National!
      1. Registering Your LLC in Multiple States
      2. Maintaining Your Multi-State LLC
    4. Chapter 15: Dissolutions: Every Beginning Has an End
      1. Getting Clear on the Context
      2. It’s Melting! Examining the Reasons Your LLC May Dissolve
      3. Considering the Future Before Calling It Quits
      4. Undergoing the Dissolution Process
  9. Part 5: LLCs on Steroids: Advanced Strategies
    1. Chapter 16: Using LLCs to Cover Your Ass(ets)
      1. Knowing the Dangers: What Can Happen without LLC Protection
      2. Getting the Best Asset Protection with LLCs
      3. Exploring Strategies for Increased Security
    2. Chapter 17: Protecting Real Estate with LLCs
      1. Comparing LLCs to Other Possible Real Estate Entities
      2. Looking at LLC Property Logistics
  10. Part 6: The Part of Tens
    1. Chapter 18: Ten Good Reasons to Form an LLC
      1. To Customize Your Small Business
      2. To Protect Real Estate Assets
      3. To Shield Intellectual Property
      4. To Raise Seed Capital for Your Business
      5. To Plan Your Estate
      6. To Do a Short-Term Project
      7. To Segregate Assets
      8. To Minimize Your Tax Burden
      9. To Change the Profit Distributions
      10. To Protect Your Personal Assets
    2. Chapter 19: Ten Ways to Keep Your Liability Protection Intact
      1. File the LLC Properly
      2. Find a Partner
      3. Create an Operating Agreement
      4. Capitalize the Company
      5. File Your Annual Reports
      6. Hold Member Meetings Regularly
      7. Obtain Your Licenses and Permits
      8. Avoid Commingling Funds and Assets
      9. Sign Your Documents Correctly
      10. Give Up Some Control
  11. Glossary
  12. Index
  13. About the Author
  14. Advertisement Page
  15. Connect with Dummies
  16. End User License Agreement

Product information

  • Title: Limited Liability Companies For Dummies, 4th Edition
  • Author(s): Jennifer Reuting
  • Release date: July 2023
  • Publisher(s): For Dummies
  • ISBN: 9781394183333