Like a Corporation, an LLC offers limited liability to its owners. Unlike a Corporation, however, an LLC is taxed as a Partnership or Sole Proprietorship (unless the LLC elects to be taxed as a Corporation). This allows an LLC to pass all its income and losses through to the owners. Furthermore, the LLC has an advantage over a C-Corporation which makes an S-Corporation tax election because the S-Corporation can only have 100 stockholders and the stockholders cannot be Corporations or non-U.S.

Partners in a partnership or LLC cannot make pre-tax contributions to their HSAs through the partnership by salary reduction. However, they can make their own personal contributions to their HSAs and take the "above-the-line" deduction on their personal income taxes. No. Self-employed persons may not contribute to an HSA on a pre-tax basis and may not take the amount of their HSA contribution as a deduction for SECA purposes. See similar questions...

S corporations and LLCs possess many similarities: Both offer limited liability protection and pass-through tax treatment. See similar questions...

An LLC provides the same protection from liability as a corporation but without the more complex recordkeeping tax structure required of corporations. See similar questions...

There are many ways to convert an LLC to a corporation, each of which has different legal and financial implications. For example, you could convert through a merger, or you could simply start a new corporation and contribute the assets of the LLC into the corporation. We can certainly help you form an entirely new corporation, but it is best to speak with an attorney or accountant to consider your options. See similar questions...

The LLC is a relatively new type of hybrid business structure that is now permissible in most states. It is designed to provide the limited liability protection of a corporation and operational flexibility and pass-through taxation advantage of a partnership. Formation is slightly more complex, expensive and formal than that of a general partnership, yet is less regulated and requires less government filings to form than a S Corporation. See similar questions...

The stockholders of a Delaware Corporation and the owners of units in a Delaware LLC are not personally liable to the creditors of a Delaware Corporation or LLC unless they personally guarantee the obligations. Go Back to the Top of the Page See similar questions...

When two or more people go into business together, they've automatically formed a partnership; they don't need to file any formal paperwork. By contrast, to form a limited liability company (LLC), business owners must file formal articles of organization (sometimes called a certificate of organization) with their state's LLC filing office (usually the secretary of state or department of corporations) and comply with other state filing requirements. See similar questions...

Business] A limited liability company or LLC is an organization owned by one or more individuals or corporations. The members own membership interests in the company and not shares. LLC is a recently developed type of legal entity. For many entrepreneurs, it is the ideal choice, as it has the tax advantages of the limited partnership and the limited liability element of corporations. See similar questions...

The LLC provides a vehicle that lowers risk for all investors, simplifies administration of the fund, and codifies the agreements among the funders regarding their obligations to each other and to the goals of the fund, how decisions are made and how the funds flow. The LLC also provides a long-term, stable mechanism to insure the success of the program over its 20 year life. See similar questions...

Assets transferred to a limited partnership or a multi-member LLC (which are not fraudulent transfers) may be protected from the creditors’ claims against the owners of the entity. The creditors of a partner or a member of an LLC are only entitled to a charging order. A charging order entitles the creditor to distributions made in respect of that ownership interest, but does not allow the creditor to take control of the ownership interest. The I.R.S. See similar questions...