Single member LLCs corporate shield protection has been called into question by a few state courts and laws. LLCs or Limited Liability Companies are unique, because they are designed to give the owner a “corporate shield” that protects them from liabilities of the company. This shield is
When starting a business, everyone wants to structure it to protect, their house, summer cabin, bank accounts and retirement nest egg. But if they thought about it they would realize that their business is their most valuable asset. It is basically the source of all their assets.
How can you protect your assets ahead of time? There are certain questions you need to consider. How risky is your business? Are you a detail person? Do you have a family? What state are you living in? It is always a good idea to hold your home in your own name for tax reasons.
In building a bullet-proof asset protection plan, which state is the best to file a limited liability entity, Wyoming or Nevada? and which entity would be the most effective, an LLC, LP, “S” Corp or a “C” Corp, and what would your fee be for such? MHM There is not a “best” state to file […]