by R. Shawn McBride | Oct 2, 2017 | Business Management, Choice of Entity, LLC, Personal Liability
I am going to discuss one of the most common questions I get when I speak to audiences with newer businesses. Should I be an LLC, should I be a corporation, and is it okay to be a sole proprietorship? It really depends on your situation, so we really want to look at...
by R. Shawn McBride | Aug 10, 2017 | Choice of Entity, Multiple Owners
Today, Shawn talks about corporate formalities, and the huge cost it can have. We’ve seen this over and over again in my career and my legal practice, and it then stretches into my business management and consulting work as well. We need to have good formalities...
by R. Shawn McBride | Jul 21, 2017 | Business Management, Choice of Entity
An entity is legally recognized as being separate and distinct from its owners. For example: Limited liability companies (LLC), limited partnerships (LP) or corporations–as opposed to general partnerships or undocumented sole proprietorships. (Each legal entity...
by R. Shawn McBride | Jul 14, 2017 | Choice of Entity, LLC
It’s a common question I get. Do I want to be an LLC? Do I want to set up as an S corporation, or do I want to set up as a corporation? The answer truly depends on the company and your needs and your wants and your future plans. There is no one answer. One is...
by R. Shawn McBride | Jun 16, 2017 | Choice of Entity
Sometimes you see the term “series LLC” floating around. Recently a lawyer asked me what a series LLC is, so the uncertainty pervades even among experts. The answer isn’t easy; it’s a nebulous concept. The idea of a series is that you have separate...
by R. Shawn McBride | Jun 15, 2017 | Choice of Entity, Multiple Owners, Partnerships, Personal Liability
It’s often a common question that clients ask us when do we need to set up legal entities? When are we okay going without a legal entity and when should we set up an entity? Here’s a few rules and red flags to look for that might indicate that it’s...
