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| | #16 (permalink) |
| Angel Girl's Daddy ![]() | Re: Please Take a Look and HELP!!!!! A limited liability company (abbreviated L.L.C. or LLC) in the law of the vast majority of the states of the United States is a legal form of business company offering limited liability to its owners. Often incorrectly called a "limited liability corporation" (instead of company), it is a hybrid business entity having characteristics of both a corporation and a partnership. It is often more flexible, the owners have limited liability for the actions and debts of the company, and it is suitable for smaller companies with a single owner. The primary corporate characteristic is limited liability while the primary partnership characteristic is the availability of pass-through income taxation. Limited liability company - Wikipedia, the free encyclopedia Same deal as an S corp. Taxs are just done different and it's a whole lot more complicated if you are doing your own taxes. S corporation - Wikipedia, the free encyclopedia
__________________ Click here to visit my thread: New Horizons Text Is a Poor Form Of Communication! If we ignore the environment maybe it will just go away.... |
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| | #17 (permalink) |
| Excellent Guesser :D | Re: Please Take a Look and HELP!!!!! Nexus Dynamics? Fluid, movement, upward moving yet vague enough to cover an array of ventures. Probably taken already.
__________________ Victor ----- People come into our lives for a reason, a season or a lifetime. When you know which one it is, you will know what to do for that person. When someone is in your life for a REASON, it is usually to meet a need you have expressed. They have come to assist you through a difficulty, to provide you with guidance and support, to aid you physically, emotionally or spiritually. They may seem like a godsend and they are. They are there for the reason you need them to be. Then, without any wrongdoing on your part or at an inconvenient time, this person will say or do something to bring the relationship to an end. What we must realize is that our need has been met, our desire fulfilled, their work is done. The prayer you sent up has been answered and now it is time to move on. |
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| | #20 (permalink) |
| Tiger Shark | Re: Please Take a Look and HELP!!!!! Frankie is correct. I would opt for a S Corp for the bennies you want S corporation provides many of the benefits of partnership taxation and at the same time gives the owners limited liability protection from creditors. The S corporation rules are contained in Subchapter S of the Internal Revenue Code (1361-1379). S status combines the legal environment of C corporations with taxation similar to taxation of partnerships. S corporations are treated as corporations under state law. They are recognized as separate legal entities and generally provide shareholders with the same liability protection afforded by C corporations. For Federal income tax purposes, however, taxation of S corporations resembles that of partnerships. As with partnerships, the income, deductions, and tax credits of an S corporation flow through to shareholders annually, regardless of whether distributions are made. Thus, income is taxed at the shareholder level and not at the corporate level. Payments to S shareholders by the corporation are distributed tax-free to the extent that the distributed earnings were previously taxed. Also, certain corporate penalty taxes (e.g., accumulated earnings tax, personal holding company tax) and the alternative minimum tax do not apply to an S corporation. Unlike C corporation, an S corporation is not eligible for a dividends received deduction. Unlike C corporation, an S corporation is not subject to the 10 percent of taxable income limitation applicable to charitable contributions.
__________________ A Wiseman once said build a stage add a pole & they will dance - Jack 2007 ![]() www.aquaticaggression.com Projects & Chronicels http://www.reefsanctuary.com/forums/...car-buffs.html http://www.reefsanctuary.com/forums/...nts-tanks.html |
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| | #23 (permalink) |
| recovering overfeeder | Re: Please Take a Look and HELP!!!!! That has a nice ring
__________________ Brenda ![]() But it's a dry heat rushing is like throwing money in the ocean to feed the sharks http://www.reefsanctuary.com/forums/...-gal-nano.html |
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| | #25 (permalink) |
| They misunderestimated me ![]() | Re: Please Take a Look and HELP!!!!! Moved to OT forum.
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