Call 888-686-6211
In many cases, a new LLC can be up and running same-day. There are many advantages to forming an LLC, first and foremost protecting your personal assets. We set up LLCs in Arizona, Iowa, and Nebraska.
6 Reasons to start an LLC
1. Ease of Formation
LLCs are generally much easier to set up than corporations. In addition to the fact there are less hoops to jump through, setting up an LLC is also usually more affordable than setting up a corporation.
2. Ease of Operation
Operating an LLC is usually easier than operating a corporation. Particularly, there are fewer formalities required as to an LLC, and therefore less risk of losing the benefit of the “corporate veil” that protects owners from personal liability.
3. Protecting Real Estate
An LLC can protect real estate from reach by creditors and can keep such
property out of reach through lawsuits in general. Real estate in a properly formed and properly managed LLC would be safe from lawsuits that arise out of separate business activities.
4. Protecting Other Property
An LLC can also be used to shield other assets besides real estate. Anything
from heavy equipment to jewelry to cars and trucks can be placed in an LLC.
5. Estate Planning
LLCs can be very valuable as an estate planning tool. An LLC can be a powerful source of asset protection and offers relative ease in providing for the end-of-life transfer of assets. LLCs can be used to protect your assets not only from creditors, but also from probate attorney fees and court costs.
6. Reduce Taxes
Most business run at a loss for the first two or three years. LLCs offer the benefit of pass-through taxation, and therefore business losses can pass through to the owners individually, where those losses can offset other taxable income and ultimately reduce their tax burden.