By: Ted Sutton, Esq.Over the last few years, the use of blockchain technology has exploded onto the scene. DAOs have grown in popularity alongside it. So, what exactly is a DAO? A DAO is a new entity form that stands for Decentralized Autonomous Organization. What’s...
You must be very careful when you are the only owner of your LLC. Single member LLCs require extra planning and special language in the operating agreement. One example: What happens when the single owner/member passes? Who takes over? It may be months before that is...
Let's start with the good... California Raises their Homestead Exemption The homestead exemption is an excellent creditor protection strategy for personal residences. It all started in Texas when they were an independent republic from 1836 to 1846 and in need of...
You’ve set up your LLC. Now it’s time to make money, and flow the profits into your bank account. It's time to think about how you will be distributing LLC Money between bank accounts. In the example we’ll use in this article, you have transferred title in a real...
California’s minimum tax on business entities is $800.00 per year. The California Franchise Tax is the highest in the nation and also comes with corporate income tax and personal income tax. California traditionally is a tough state to own a small business due to all...
Matt wanted to open a confidential mail order business and he needed to operate with absolute privacy. No one could ever know that he ran a business that sold sensitive supplement products over the internet. Matt lived in Las Vegas and knew he needed a Nevada LLC for...
Asset protection planning defends your assets from future creditors, divorce, lawsuits or judgments. How can you best plan to protect your personal and business assets? Here are some guidelines to implement strong asset protection. Plan Your Asset Protection Strategy...
Starting your business from scratch is a big deal. There are a million details to take care of, and the list of demands can seem endless. Small business owners have to hire employees, worry about taxes, and find ways to maximize profits while keeping costs as low as...
Delaware's New Rules Are a Cost To Consider When Forming Your Entity Delaware recently increased the various fees assessed by their Secretary of State as Annual Franchise Tax Fees for Delaware corporations. While the changes do not apply to Limited Liability Companies...
When looking to start a business or protect investments you have several options in the type of entity you can form. As with anything, there are advantages and disadvantages to limited liability companies. Advantages It limits liability for managers and members....