Updated: Dec 12, 2022
An LLC or Limited Liability Company has become a popular choice among business startups.
In an LLC, the business is legally separate from the owners. In cases where the business has debts, legal issues, and other tax-related concerns, the owners' personal assets are generally untouchable to a certain extent. There is less paperwork and easier to maintain. LLCs allow unlimited number of members, unlike corporations who has shareholders and have limits.
What makes an LLC more attractive, is its tax-payment benefits. LLCs are considered pass-through businesses, which means that instead of filing corporate income taxes, the profits are "passed-through" to its members' personal income taxes. No double taxation which is common among corporations. Are you now ready to form your LLC? Remember that there is still much information that you need to understand, including its downside. you are entitled to a complimentary session with us.
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