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 restructureIncludes 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