The Startup Magazine
APRIL 2, 2020
There will be plenty of it early and often during your entrepreneurial journey, but rather than look at it as a headache you should consider the many ways in which it will help protect you, your family, and the company as a whole. Personal asset liability protection is not ironclad. Be able to prove due diligence whenever you can.
Up and Running
JULY 28, 2022
Limited liability company (LLC) – A structure that combines the characteristics of both corporations and partnerships. It protects owners from their debts or liabilities, and each owner has to include a share of the profits/losses in their personal tax returns. Develop a founders agreement.
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YoungUpstarts
AUGUST 25, 2015
One of the first actions you will take with your startup is to organize your company a separate legal entity to protect yourself from personal liability for the company’s debts. In the tech startup context, you’ll typically choose between a Corporation and a Limited Liability Company (“LLC”).
The Startup Magazine
JUNE 14, 2019
It is estimated that at least 80% of all startups rely on personal funds from their founders for operations, albeit in their formative stages. A limited liability company status, for instance, will protect you from your business’s legal hurdles and their costs too. Bootstrapping is a common way to fund a prospect.
Startup Professionals Musings
JUNE 13, 2016
federal income tax (Section 501(c) of the Internal Revenue Code). Obviously all founders wants to minimize their taxes, yet the initial setup for non-profits is bureaucratic, takes up to two years of time, and costs thousands. Most countries have similar exemptions for similar organizations. Retaining a qualified team is challenging.
Up and Running
AUGUST 6, 2014
According to the Harvard Business Review, in most U.S. states for-profit companies can accept donations and nonprofit companies earn revenue, which dispels the myths that a nonprofit can’t make money, or a for-profit venture would miss out on donations. For-Profit Entities: L3Cs, or Low-Profit Limited Liability Company.
Up and Running
MAY 31, 2018
Choice of entity (C corporation, S corporation, or a limited liability company ) may affect how the company’s earnings will be taxed and how your assets are protected. Setting up financial software that tracks income and deductible expenses. An accountant can also provide valuable advice about business formation.
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