Beresford Basics:

Jan 31, 2024

LLCs 101: How to Start and Manage a Limited Liability Company 

If you are thinking of starting a business, buying investment property, or purchasing a second home, you should consider forming a limited liability company (“LLC”). An LLC is a flexible business structure that offers many benefits, including:

  • Legal protection: An LLC separates your personal assets from your business liabilities, so you are not personally responsible for the debts of your business.
  • Tax flexibility: An LLC can choose how it wants to be taxed, such as a sole proprietorship or a corporation, depending on what is best for your situation.
  • Operational simplicity: An LLC has fewer formalities and regulations than a corporation, so you can run your business with more ease and autonomy. 

But what exactly is an LLC? How does it compare to other business entities? What are the pros and cons of an LLC? How do you set up an LLC? What are the best practices for managing it? 

These are some of the questions that I will answer in this multi-part blog series on LLCs. Whether you are new to real estate investment, an experienced business owner, or looking to buy a second home, this series will help you understand the basics of LLCs and how to use them effectively for your business goals.

 In the next post, I will explain what an LLC is. A new post in this series will come out every few weeks.

For any questions regarding LLCs 101: How to Start and Manage a Limited Liability Company , email me at info@beresfordlaw.com or give me a call at (425) 776-4100.

BERESFORD BOOTH PLLC has made this content available to the general public for informational purposes only. The information on this site is not intended to convey legal opinions or legal advice.