WebMar 28, 2024 · Step 1: Choose and reserve a name for your LLC. Most states don't allow two different business entities to have the same name. So you can't, for example, have "Joe's Donuts, LLC" and "Joe's Donuts, … WebMar 29, 2024 · A limited liability company (LLC) can protect your personal assets in the event of a lawsuit. An LLC is the best business structure for most small businesses because they are inexpensive, easy to form, and simple to maintain. An LLC is the right choice for business owners who are looking to: Protect their personal assets from …
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WebFeb 5, 2024 · All of these deductions can be claimed by sole proprietorships, as well as C-corps and S-corps, partnerships and LLCs (although there might be different rules for each). 1. Startup and... WebJan 25, 2024 · Forming an LLC gives your business its own legal identity. In the eyes of the law, it's a separate “person" that can own money and property, have a bank account, make agreements, sue people, and be sued. Because of this, your business's creditors generally can't go after any money or assets that aren't owned by the LLC. Web1 day ago · Step 5: Document organizational minutes; a permanent record of actions and decisions from an organizational meeting held by LLC managers and members. Step 6: Get an EIN. Step 7: Set up a business ... community bankers of wa