The Plain English Guide to Forming an LLC

Every week, hundreds of thousands of people start businesses in America. A very large number of them do it wrong from a legal and financial structure standpoint — not because they are careless, but because nobody explained the basics before they got going. The Plain English Guide to Forming an LLC covers: - What an LLC actually is and what it does for you - LLC vs. sole proprietor, S corporation, and C corporation — which structure is right for you - The liability shield — what it covers and what it does not - How to choose your state of formation - The Articles of Organization, Operating Agreement, and EIN — what each one does - Why the Operating Agreement is the most important document your LLC will ever have - How LLCs are taxed and the S corporation election that saves profitable businesses thousands annually - The business bank account and why commingling funds destroys the liability protection - Contracts, intellectual property, and independent contractor classification - Bringing in partners, investors, and employees - When to add a second LLC or restructure Includes 6 ready-to-use forms and templates in the appendix. This book is for educational purposes only and does not constitute legal or tax advice. Nathan Cross — The Plain English Legal & Financial Library — Cross Legal Press