When you start or expand a business, many owners wonder whether they form a business entity, and if so, what is to be used. If you cut through the flak, but the main reason for the formation of a business entity to create the Protection from personal liability from your company.
If you are not the right person for your business, you are personally liable if the company fails. Business Facilities
There are a number of commercial property options that exist in the modern world business. Corporations
The companies are in two basic forms, a company "C" and Company "C". Company “S” fees "pass" for all shareholders with the information on your personal tax return reported.
This independence is like a shield between the activities of business and personal resources. Form and the use of company cars for your company have the same effect, that is, your personal assets will not be wiped out if the company fails.
Limited Liability Company
a limited liability company, or "LLC" as it is better known, was a very popular choice of the company in the early 1990s. LLC similar companies, but can be taxed as a partnership. The LLC provides a shield for your personal assets, such as a company
Partnerships
In my opinion it is better to have died a small child and then into a partnership. Unfortunately, many entrepreneurs are partnerships and do not know it. If you are a business entity, the law the activities of the partnership and treated accordingly.
Partnerships are dangerous for one main purpose: a partnership does not provide protection from liability and in many ways Calls ownership. According to the established case law, most partnerships, as "general". This means that all partners contribute to the management and the management of the partnership. In a general partnership, each partner is jointly and severally liable for the debts of other partners from the business relationship. Although not in the car, not rent a car, never saw the car and not drink!
Partnerships are a recipe for disaster. Limited Partnership
Limited partnership [LP] is perhaps the most misunderstood business entity. A limited partnership is similar to that of a partnership, but allows a range of partners to limit their liability to be limited partners. It is important to note that these are simply limited partners [bar, content, features] make a limited capital investment in the partnership. Many limited partnership be disastrous.
