Archive | Entity Formation

Admitting a New Partner to a LLC

Are there tax consequences when admitting a new partner to an LLC? Imagine that a friend from college calls you up with a great idea for a new business. Your friend asks you to join his business as the CEO and, although he can’t pay you for your services, you will be a 50% owner […]

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LLC vs Corporation

What is the Difference between an LLC and Corporation? The first major decision for any new business owner is, “how do I protect myself legally?” Whether through a google search or a discussion with a friend or lawyer, a new owner inevitably hears about limited liability companies and corporations. Since both offer the liability protection […]

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