Frequently Asked Questions about Limited Liability Companies
The list of questions and clickable links that follow answers the most common LLC and LLC-related questions I get from clients. Accordingly, if you have a question about forming, operating or dissolving a limited liability company, the answer hopefully appears in the list below.
However, if you go through the information and don't find an answer to your general question about limited liability company formation or taxation, please feel free to email your question to steve.nelson@stephenlnelson.com. If your question is clear and of general interest (and not already covered in a question below), I'll try to add it to the list.
Note: The FAQ articles below provide general information limited liability companies. If you have a question S corporation taxation (which is an option available to limited liability companies), however, you may also want to review the frequently asked questions supplied at an affiliated web site, S Corporation Explained.
Background information on limited liability companies
- What is a Limited Liability Company?
- Does limited liability company formation work for all types of businesses?
- What does llc formation cost?
- Does a LLC offer a less protection than a regular corporation?
- Should I use S corporation tax treatment for a limited liability company?
- Which is the best state for limited liability company formation?
- Which state should I use for my new limited liability company?
- What's the Difference between an LLC and LLP?
Starting a new limited liability company
- Should my spouse co-own my limited liability company?
- Why do I need and where can I locate a registered agent?
- Do you need an attorney's help for llc formation?
- What should someone look for in an online LLC formation service?
- When do I need a PLLC rather than regular LLC?
- When is a business too small to form a limited liability company?
- Can someone who isn't US citizen form a limited liability company?
- When should a limited liability company be treated as a sole proprietorship?
- If I own more the one business should I put each business into its own LLC?
- Does limited liability company status give me additional tax deductions?
- Can one LLC own another LLC?
- Should real estate investors use separate limited liability companies for each property?
- How does the self employment tax work for a limited liability company?
- How does the Obama Medicare surtax affect limited liability company taxes?
Operating limited liability company
- Which legal risks does a limited liability company not protect a business owner against?
- Can I protect a personal residence with a limited liability company?
- Can or should my LLC pay wages to my spouse or children?
- How does the owner of the limited liability company report amounts he or she pays to himself or herself?
- Can I use QuickBooks for the accounting of my limited liability company?
- Can I use Quicken for a limited liability company accounting system?