Wahoo, Nebraska

NE Business Law Professionals on the Benefits of an LLC December 12, 2017

Wahoo, Saunders
NE Business Law Professionals on the Benefits of an LLC, Wahoo, Nebraska

Many Americans dream of owning a business. However, once you attain this goal, you should consider organizing the entity as a Limited Liability Company, or LLC. Doing so impacts many elements, from how you pay taxes to your personal liability. Here, the business law professionals of The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer in Wahoo, NE, explain some advantages of an LLC.

Why Become a Limited Liability Company?

Taxes

An LLC offers flexibility when it’s time to do taxes. It can file as a single-member via one person’s return, as a traditional partnership, or as a corporation. A business law advisor can draw up an operating agreement outlining how the LLC shall be treated for tax purposes. This is advisable, as the IRS may otherwise automatically classify it as a corporation.

Paperwork

business lawIn comparison to many other business structures, an LLC has the added benefit of minimizing paperwork. These bodies have less stringent compliance requirements, making it easier to keep them in good legal standing. Not only is there less documentation but also minimal attorney fees.

Liability

As the name implies, LLCs, like corporations, protect their members from liability. If the business goes into debt, for instance, creditors can’t seize the personal assets of its members. This is a meaningful protection that many owners value thanks to the security it offers.

These benefits aside, an LLC isn’t the right option for every organization. The business law experts at The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer will determine whether this structure is best for your venture. Founded in 1893, the firm brings decades of proven experience to its clients. For an overview of their practice areas, you can visit the team online. To schedule an appointment and begin discussing your needs and goals, call (402) 443-3225 today. 

Other Announcements, Events and Deals from The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer
4 Steps in the Civil Litigation Process , Wahoo, Nebraska
Legal disputes between people, businesses, and government entities arise every day. If the parties involved are unable to reach a settlement or agree on another way to reso...read more
How to Create a Living Will , Wahoo, Nebraska
While most of us don’t want to think about the future after our own passing, it can sometimes be harder to contemplate a scenario where we don’t die but just become incapacitated in ...read more
What Are 1031 Exchanges?, Wahoo, Nebraska
Whether you’ve been renting out apartments for years or are just dipping your toes into the investment property pool, the details of real estate law can quickly become ...read more
3 Tips to Prepare for Alzheimer's, Wahoo, Nebraska
Evidence suggests that genetics play a significant role in the development of Alzheimer's, increasing the risk for individuals who have a family history of the disease. It may be tou...read more
How Can a Letter of Intent Impact Estate Planning?, Wahoo, Nebraska
Similar to a will, letters of intent are crucial estate planning documents. They detail all of the instructions you want to be carried out after your death. This information is ...read more