Terminology Overview

What are Limited Liability Companies?

The limited liability company (LLC) is a relative newcomer to the business world. A unique alternative to the five traditional forms of doing business, the LLC in essence establishes a business that combines the limited liability of a corporation with the level of tax simplicity associated with a partnership?

Featured Articles

Understanding Limited Partnerships

In certain areas, limited partnerships are seen to combine the best parts of a partnership and a corporation. A major difference between a general partnership and a limited partnership is that a limited partnership has different rules regarding a limited partner?s management powers and personal liability...more

Advantages of a S - Corporation

S corporations can be particularly favorable for start-up companies. If a business shows losses in some years, the owner may claim those losses in the current year of the loss on their personal tax return?...more

Filing Your C - Corporation Taxes

Another possible tax advantage of corporations is that corporations can pay for employee benefits, such as health insurance, disability and up to $50,000 in life insurance on a tax-deductible basis?

Sole Proprietorship

The sole proprietorship is the simplest form of business entity. Legally speaking, an owner of a proprietorship is inseparable from his company. There may only be one owner at a time of a sole proprietor business?

Dealing With Partnerships

Generally speaking, a partnership is a sole proprietorship with one or more additional owners. In general partnerships, each owner shares management of the business and liability for the acts of the partnership?