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How to Dissolve Your LLC (7 Practical Steps to Close Your LLC)

How to Dissolve Your LLC

A Limited Liability Company is an amazing tool by which to conduct business especially from a tax and liability perspective. Unfortunately (or fortunately), some situations arise which may cause the need to dissolve a LLC.

Some scenarios include: 

  1. Planned expiration in which the LLC was only going to be valid for a set period of time;
  2. The business purpose has been completed and thus is does not make financial or legal sense to continue to pay taxes and fees associated with continuing the limited liability company; or
  3. Member disagreement (yes those occur frequently), among other valid and considerable reasons. 

No matter what type of LLC, and there are advantages to different types, or why you are choosing to dissolve a limited liability company, there are steps that must be taken to avoid fines, taxes, and a ultimate loss of goodwill in the industry which could obviously prove to be detrimental to your bottom line in the long run.

Shameless plug… Whether you are winding up and dissolving a LLC in any state (we have guides for Texas,

LLC or Sole Proprietor (The ULTIMATE GUIDE 2020)

LLC or Sole Proprietor

Should you choose to be an LLC or sole proprietor? This question is important to answer, especially if you are working on your own, or are beginning a small business online or offline.

Book a call or speak to us here: https://mollaeilaw.com/start after you read the following information.

 

How Do You Distinguish between Working as an LLC or Sole Proprietor?

The main difference between an LLC or a sole proprietor has to do with liability. When you begin working as a sole proprietor, your personal assets, such as your home or business, are technically at risk. By forming an LLC, however, you erase this risk, as your personal assets cannot be touched if you are sued by a business client. 

Also, when you form an LLC, your taxes pass through to your personal income tax filing. You don’t owe any taxes on your business. This additional convenience makes forming an LLC very attractive.

Selecting an LLC or sole proprietorship is both important and complex. Unless you are a tax accountant or legal expert,

How to Convert a C Corp to an LLC (ULTIMATE Guide 2020)

How to Convert a C Corp to an LLC

If you wish to convert a C Corp to an LLC, you probably are doing so for tax reasons. The following information will help you make this happen.

After reading the content, call or speak to us here: https://mollaeilaw.com/start to get started. By taking this stance, you can avoid paying taxes on your company and enjoy pass-through taxation.

 

Why You Need to Know How to Convert a C Corp to an LLC?

If you own a C corporation, you may want to convert to a pass-through entity, such as an LLC to retain your transferability of ownership and to receive protection against getting sued. This action may be more attractive too, as you avoid double taxation of corporate revenue. As you get bigger or expand, it can become more and more difficult to reach a happy balance when it comes to taxable income.

Not only do you have to consider shifts in salaries, but you also have to deal with paying for fringe benefits or interest payments on business assets. 

Can a Sole Proprietor Hire Employees? (Answer Inside) (2020)

Can a Sole Proprietor Hire Employees?

If you work on your own and need additional help, you may want to know the answer to the following question, “Can a sole proprietor hire employees?” The answer is “yes.” However, before you place ads for help, you need to contact a competent business attorney to help you with this inquiry.

Call to speak to us here: https://mollaeilaw.com/start to get your hiring questions answered and learn how to set up your business so you can add to your staff.

 

Can a Sole Proprietor Hire Employees Immediately?

The following information is important to read if you want to fully answer your questions, “Can a sole proprietor hire employees immediately?” While you can hire employees, you will need to obtain an employer identification number (EIN) from the IRS. 

Once you have this number, you will need employer identifications to fill out tax forms. For example, an employee who works for a sole proprietor must give him or her a copy of their social security card and another form of identification – preferably a picture ID.

How to Switch from Sole Proprietor to LLC (ULTIMATE GUIDE) (2020)

How to Switch from Sole Proprietor to LLC

Switching from sole proprietor to LLC is usually a strategic move – one that is quickly done when you find out about your financial vulnerability as a sole proprietor.

We can help you in your move to step up from sole proprietor to LLC. Book a call to speak to us here: https://mollaeilaw.com/start.

Once you contact our office and start launching your new limited liability company (LLC), you will be able to rest easier at night.

To understand how to get your new LLC off the ground, you should read the following information. An LLC stands for a limited liability company, and is the ideal choice for any start-up that wishes to keep its business dealings separate from its personal finances.

 

Switching from a Sole Proprietor to LLC – What Is Involved?

When you are switching from a sole proprietor to LLC, you need to take specific steps. These steps are outlined as follows.

#1 Research and Find Out If Your Business Name Has Been Taken

The first thing you need to do is find out that your business name is already being used.

Do You Have to Register as a Sole Proprietor? (Answer Inside)

Do you have to register as a Sole Proprietor?

You may wonder – Do you have to register as a sole proprietor? This is a valid question and one worth noting, as limited liability companies (LLCs) must register with the state before they can begin operations. However, you do not have to do the same as a sole proprietor – not unless you set yourself up as a doing business as or DBA company. This is necessary to do if you do not plan to use your first and last name as a business entity.

If you want to obtain help for setting a DBA business, call to speak to us here: https://mollaeilaw.com/start to get your questions answered and establishing your sole proprietorship as a DBA business, giving it a fictitious business name.

 

Why Do You Have to Register as a Sole Proprietor if You Add a DBA Name?

You do have to register as a sole proprietor when you create a DBA name. If you are operating as a sole proprietor, you need to register your business or file a DBA if your business operates under a different name than your own. 

Becoming an Individual Sole Proprietor or Single Member LLC

Sole Proprietor or Single Member LLC?

If you are a sole proprietor who is wondering if becoming a sole proprietor or single-member LLC may be right for you, you will want to learn more about the pros and cons of being an individual sole proprietor or single-member LLC. Read the following information to get more insight into these two legal business entities.

After you read the information, book a call to speak to us here: https://mollaeilaw.com/start  to either register your sole proprietor as a (doing business as) DBA business, or establish a limited liability company (LLC). 

 

Which is Better – an Individual Sole Proprietor or Single Member LLC?

To get a better idea of how an individual sole proprietor or single-member LLC works, you need to define each entity. A sole proprietorship features only one person who owns all the debts and assets of his or her business. 

This business does not have to claim assets inside the corporate structure, as it is deemed the owner’s property. If you are a sole proprietor, you report and pay taxes on your individual tax return.

How to Change from Sole Proprietor to LLC (ULTIMATE GUIDE)

How to Change from Sole Proprietor to LLC

If you work as a sole proprietor but are nervous about getting sued, you should find out how to change from sole proprietor to LLC. Doing so will help you protect your personal assets, such as your car and house, in case your business is sued.

You cannot protect yourself from this event if you don’t form a business entity, such as an LLC.

The information below will guide you in learning how you can work on your own, but keep your business affairs separate from your personal finances.

Once you read the information, you can work with a business attorney to form the LLC.  If you wish to book a call to speak to us here – https://mollaeilaw.com/start, you can do so anytime to help you legally. 

 

How to Change from Sole Proprietor to LLC When You Work at Home

If you want to change from a sole proprietor to LLC, when you work at home, you can set up an LLC in a low-cost state,

How to Become a Sole Proprietor TODAY (ULTIMATE GUIDE)

How to Become a Sole Proprietor TODAY

If you want to begin your own business and learn more about how to become a sole proprietor, you have come to the right place. Book a call to speak to us here: https://mollaeilaw.com/start to get the legal backing and support you need.

Before you make that call, however, the following tips will give you a better idea about how to succeed as a sole proprietor and start making money on your own.

 

I Want to Know How to Become a Sole Proprietor – What Do I Need to Start?

If you want to know how to become a sole proprietor and do so successfully, you will need to learn the basics of setting up this type of business. While getting started is easy, you still need to obtain support from a trusted and knowledgeable legal advisor. That is why you need to obtain guidance along these lines.

Book a call to speak to us here: https://mollaeilaw.com/start with specific questions after you read the following suggestions.

How to Form a Wyoming LLC for a Non-US Resident

How to Form a Wyoming LLC for a Non-US Resident?

One of the best ways to keep filing costs low and set up a business in the US, if you live in another country, is to form a Wyoming LLC non-US resident business.

By taking this step, you will realize a better cash flow and keep yourself protected from liability.

So, how do you get started?

Before you contact me at sam@mollaeilaw.com with your questions, read the following information. It will give you a better idea of why forming a Wyoming LLC non-US resident business may benefit you legally and financially. 

After you have reviewed the details, contact me by email at sam@mollaeilaw.com so we can discuss your business needs and get you set up as a Wyoming LLC. 

 

Why Should a Non-resident Form a Wyoming LLC non-US Resident Company?

You may be wondering why, exactly, you should form a Wyoming LLC non-US resident business if you are from another country. For one thing, you will enjoy lower taxes and Wyoming,

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