Limited Liability Companies

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					Limited Liability Companies



Many small business owners have chosen to form an LLC as an alternative to
forming a corporation in order to limit their personal liability. If you operate a
business as a sole proprietor or under a partnership, you are entirely responsible
for any debts your business have accumulated or lawsuits against your business.
This means that everything you worked for, including your home, savings, and
other property and possessions can be at risk. That is why many business owners
contact a corporation attorney to form an LLC. LLC stands for Limited Liability
Company, which gives business owners protection from personal liability.

Benefits that business owners receive when they form an LLC include:

      Limited Liability
      Pass Through Taxation
      Less Administrative Paperwork and Recordkeeping
      National Recognition
      Deductible Expenses
      Flexible Profit and Loss Allocation

By letting a corporation attorney set up a limited liability company for you, you will
create a legal barrier between your business and your personal life. As a result,
you can protect your personal finances and property from being taken away.
Besides limiting your personal losses, there are many other advantages one can
benefit from if one decided to form an LLC. An additional benefit includes the tax
savings business owners receive when they form an LLC. Similar to a sole
proprietorship or partnership, a Limited Liability Company receives pass through
taxation.

Pass through taxation means that the company itself does not have to pay taxes to
the IRS, unlike a corporation that receives a double taxation. Instead, each owner
of the company will report their own profits or losses in the company on their tax
returns. There are many other financial and legal rules that govern a Limited
Liability Company that can seem very complex to the average person. That is why
it is important to talk to a corporation attorney to discuss your business options.

				
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Steve  Rossow Steve Rossow General Manager www.smallbusinesslawfirms.com
About I joined Moxy Media as Vice President of Business Development in 2007 and I am responsible for growing new media sales and developing opportunities for Moxy Media. I bring 25 years of sales, marketing and business development experience, applying technology, Internet products and services to consumers, SMB and Fortune 500 organizations. I joined Moxy Media from Eforcemedia, growing their lead generation business through strategic alliances. I was the Business Development Director for AVAYA, launching IP Telephony into the cable industry, Fortune 500 and SMB markets. I was also recruited to AT&T, getting its WorldNet service launched from scratch. As Worldnet’s first Business Development Director, I created strategic alliances with over 80 companies and created the “Internet for Everyone Sweepstakes.” I also launched Worldnet’s e-commerce initiatives. I left AT&T to become the Vice President of Business Development of iMall, Inc., a publicly-held e-commerce enabler. I played a pivotal role in a $14 million investment from First Data Corporation to build their e-commerce gateway and created the relationship and eventual sale of iMall to Excite@Home in 1999 for $565 million.