Nolo's Quick LLC: All You Need to Know About Limited Liability Companies

by Anthony Mancuso Attorney

Overview

If you are wondering whether or not a limited liability company is right for you, Nolo's Quick LLC is the book to grab.

Written by LLC expert Attorney Anthony Mancuso, this book shows you, in plain English, the advantages and drawbacks of forming an LLC, and how the LLC compares with running a business as a corporation, partnership or sole proprietorship.It explains:
*how LLCs are formed by filing Articles of Organization with the state *the Operating Agreement, which details the legal rights and responsibilities of LLC members and managers *how you can choose between a member-run or manager-run LLC *important tax options that qualify an LLC for partnership tax treatment -- an essential benefit of forming an LLC *the required ongoing legal and tax paperwork

Practical, concise and easy to read, the 2nd edition of Nolo's Quick LLC provides vital; and the latest; information you need to know about this valuable business option.

Product Details

ISBN-13:	9781413330533
Publisher:	NOLO
Publication date:	02/06/2023
Sold by:	Barnes & Noble
Format:	eBook
Pages:	240
File size:	3 MB

About the Author

Anthony Mancuso is a corporations and limited liability company expert. A graduate of Hastings College of the Law in San Francisco, Tony is an active member of the California State Bar. Tony writes books and software in the fields of corporate and LLC law and has studied advanced business taxation at Golden Gate Universityin San Francisco. He also has been a consultant for Silicon Valley EDA (Electronic Design Automation) and other technology companies. He is currently employed at Google in Mountain View, California.
Tony is the author of many Nolo books on forming and operating corporations (profit and nonprofit) and LLCs. Among his current books are The Corporate Records Handbook; How to Form a Nonprofit Corporation; Incorporate Your Business; Form Your Own Limited Liability Company; and LLC or Corporation? His books and software have shown over 500,000 businesses and organizations how to form and operate a corporation or an LLC. Tony is a licensed helicopter pilot and guitarist.

Table of Contents

Introduction
1. An Overview of LLCs
2. The LLC vs. Other Business Structures
3. Member's Capital and Profits Interests
4. Taxation of LLC Profits
5. LLC Management
6. Starting and Running Your LLC: The Paperwork
7. Getting Legal and Tax Help For Your LLC

Appendix A.State-specific Information
Appendix B. Sample Operating Agreement
Appendix C. Checklist for Forming an LLC
Index

Interviews

The tried and true LLC is still the best way to go to limit your personal liability for business debts while adopting or keeping a non-corporate tax status: After you form your LLC, if you own your own business, you file Schedule C with your IRS Form1040 for your LLC; if you co-own your business, you a 1065 partnership return. In effect, with an LLC, you get limited liability without having to care for and feed a corporate tax entity (and a corporate tax accountant). Plus, many LLC owners qualify for a 20% tax deduction on qualified business income. For more information, see Nolo's article on the 20% pass-through business tax deduction. https://www.nolo.com/legal-encyclopedia/the-new-pass-through-tax-deduction.html

Editorial Reviews

"Mancuso provides advice on how and why to form an LLC and gives guidance on dealing with members capital and profits interest, taxation or profits management, paperwork, and soliciting legal and tax help." Reference & Research Book News

"When it comes to self-help legal stuff, nobody does a better job than Nolo" USA TODAY

"An LLC can protect personal assets from business debts. Now in a fully updated and revised, "Nolo's Quick LLC: All You Need to Know About Limited Liability Companies" by attorney Anthony Mancuso clearly explains how to decide whether an LLC is right for you."Nolo's Quick LLC" covers: The unique legal features of LLCs, including limited personal liability for owners; Who should and who shouldn't form an LLC; How to choose an LLC, corporation, partnership, or other business form; How LLCs are taxed; How to manage multiple-owner LLCs; Why an LLC can be the right choice even for a debt-troubled business. It should be noted that The Tax Cuts and Jobs Act provides LLCs with a 20% deduction on their pass-through business income." Dunford's Bookshelf. The Midwest Book Review

From the Publisher