Starting a Limited Liability Company

Combining the tax benefits of a partnership with the limited liability protection of a corporation, the LLC is one of the most popular and flexible forms of business organization for small business owners, investors, and wealthy individuals. Legal in all states, LLCs are safer, cheaper, simpler, or easier to maintain than alternative organizational forms, including Subchapter S corporations and limited family partnerships. And the benefits of LLCs are enormous: they can own subsidiary LLCs; have greater flexibility in allocating profits than an S corporation; can have an unlimited number of investors; and they are even better than limited partnerships for protecting assets.

Starting a Limited Liability Company, Second Edition shows you how an LLC can work for you and exactly what you need to do to set up and operate one. The updated second edition features completely revised and updated planning strategies, and new chapters on the one-member liability company, estate planning, home businesses, and more. You'll also find:

• Expert guidance on applying LLCs to operating a business, estate planning, protecting assets, real estate acquisitions, professional practices, avoiding ancillary probate, and venture capital operations
• Plans and strategies for converting partnerships into LLCs and combining LLCs and trust planning
• A detailed glossary, along with checklists and loads of sample legal forms that simplify the process

Starting a Limited Liability Company, Second Edition is ideal for small business owners and investors, especially real estate investors. It's an indispensable resource that you can't do without if you're serious about forming your own LLC. Less