We are an immediate loan specialist in Welch, and we are quicker and more advantageous than run of the mill retail facade banks since we're based on the web and are open constantly. No compelling reason to sit tight for "ordinary business hours" or invest energy flying out to the store — our short application can be finished in not more than minutes. You can even apply from a cell phone while you're in a hurry!
We can loan up to $500 to Welch occupants, in view of qualifying elements. On the off chance that endorsed, your credit will be expected on your next payday that falls in the vicinity of 10 and 31 days after you get your advance. Nitty gritty data with respect to expenses and reimbursement is accessible on our Rates and Terms page. As you consider whether an advance is proper for your prompt needs, you ought to likewise investigate other subsidizing alternatives. A payday credit is a genuine budgetary duty, and not an answer for long haul issues. Getting from a companion of relative may be a superior alternative.
ALL formally created entities (LLCs, corporations and trusts) will only provide protection against financial liability; that is if you default on a loan or something. It will not necessarily protect you against liability for negligence as the courts can void that barrier of protection. And it will NEVER protect you against liability for payroll taxes. Now, an LLC is a disregarded entity by the IRS and most states. This means you have to "elect" how you are going to file your tax return. Many LLCs decide to file as a sole proprietor and therefore avoid the expense of filing 2 returns. But beware, the state will still require an annual filing fee (in oklahoma it's $500, I've heard it's $800 in CA) to keep the LLC open and in compliance. _______________ BTW Noah "an LLC is a Limited Liability Corporation " Wrong. It's a Limite Liability COMPANY. ONLY corporations can use the term Corp or Inc.
The other poster is incorrect. An LLC is an unincorporated association which has the liability protections of a corporation but is treated for tax purposes as a disregarded entity. It doesn't matter if it's a single-member or multi-member LLC, you still get the liability protections of the LLC and you personally are not liable for its debts or lawsuits. If you use it correctly. The other poster talks about "voiding the protection" which is usually referred to as "piercing the corporate veil." You usually either have to commit fraud or do some misconduct like intentionally not paying bills when it legitimately has the funds to do so or intermixing the organization's funds with yours personally that the entity - a corporation or LLC - is considered an alter ego of its owner or owners. As long as you keep the paperwork up to date, and keep the corporate funds separate from yours, the chances of the equivalent of a corporate veil piercing for an LLC are very low. Treat the LLC as separate from you and the courts will generally do the same. Also, poster #2 is stupid because he mentions that it doesn't get you out of liability for payroll taxes, after you already said you're not going to have employees. My statement about liability protection doesn't apply to taxes. The taxes are presumed to flow through to the members for an LLC. Go to your accountant, tell him he's fired and find someone who is competent. Nobody, but nobody, should ever operate any business larger than a lemonade stand - If that- as a sole proprietorship. As a sole proprietor you have unlimited liability for all debts of the business including lawsuits, which is exactly what you're trying to avoid. . If you operate as an LLC and the customers contract with the LLC - not with you - then the LLC is the only one liable for its debts and you personally are not liable for the LLC's debts or lawsuits against it. They can't come after your personal assets because you're not liable, the LLC is. When you do business, you advertise under the LLC's name. Answer the phone with the LLC's name. Receipts for purchases or sales are issued under the LLC's name. You use a separate checking account that you open for the LLC to accept payments or to pay bills. You do not claim that you personally are buying anything, the LLC is. The LLC sells everything it is buying, you do not sell anything personally. You can be liable for things like an automobile accident if you're driving a truck registered in the LLC's name, but that's why it would buy insurance. You can use an LLC even if you have partners, employees, and multiple locations. It's an alternative to a corporation and does provide protection against liability which is not available to a sole proprietor. I'm a bit more careful because I use an actual corporation which are subject to slightly stricter rules. LLCs can be operated very flexibly and, in my opinion, have essentially obsoleted the S corporation.
Your accountant is correct - an LLC is a Limited Liability Corporation and is intended the limit the risk exposure due to illegal or just plain stupid act of the partnerships individual partners. You cannot protect yourself from yourself in business - a the only member of the corporation, you are the target of any law suits - there are no partners to deflect (Limit) your liability. Scrap the LLC until the business grows and run the shop as a Sole Proprietor for now.