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Business Planning

Benefits of Single Member Limited Liability Companies

Posted on: April 10th, 2015
The limited liability company (LLC) form of entity is the appropriate form of conducting business for, many, if not most, sole proprietors. The primary reason for this is that this form of entity permits an individual to enjoy the benefits of limited liability and to continue to be taxed as a sole proprietor. Following is a brief summary of several factors we think should be considered by clients currently engaged in business as sole proprietors, a basic explanation of the LLC form of entity and a brief explanation of the process of forming an LLC....

What Is An LLC? Limited Liability Companies In General

Posted on: April 10th, 2015
What is a Limited Liability Company? Basically, a limited liability company (LLC) is a legal entity that became available under Washington law. An LLC is an unincorporated association that provides its members with the beneficial tax aspects of a partnership and the limited liability shareholders of a corporation enjoy. ...

Limited Liability: The Benefit of Conducting Business Operations as an LLC (Over Partnerships and Sole Proprietorships)

Posted on: April 10th, 2015
Sole proprietorships and partnerships can be simple forms of conducting business. The owners make all of the decisions relating to the business and are taxed on business income and loss as individuals, with no taxation at the entity level, as is the case with corporations. However, sole proprietors and individual partners in a partnership are personally responsible for the performance of all contracts and obligations of the business....
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Leonard A. Hagen, J.D., LL.M.
Sound Estate Planning, PLLC
152 3rd Ave. South, Ste. 107
Edmonds, WA 98020
Phone: (425) 967-7287

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