LLC vs S Corp California

As a new business owner in the state of California, one of the biggest decisions you will make is whether you want to form an S Corporation or a Limited Liability Company. Both LLC and S Corp will provide you with personal asset protection, tax advantages, and several other benefits. But each business entity does have a lot of key differences as well. While I highly recommend contacting an experienced business attorney such as myself at sam@mollaeilaw.com to help you when you decide to establish a new business, I’m hoping this article highlights some key information to make the selection process a little easier on you.   What to Consider When Selecting Your Business Entity Trying to sort out how an LLC differs from an S Corp is confusing and overwhelming. Fortunately, there is a solution to that problem. You just need to focus on these key areas: Personal liability protection Taxes Before you can address these things, it is important to take a step back and look at the bigger picture. How many owners (or members) a business has …

#1 Business Partnership Agreement Contract Lawyer [Trusted by 2,246 Clients]

If you’re starting a partnership, you’re on the right page… You should definitely NOT start a partnership until you get a Business Partnership Agreement in writing. A business partnership agreement allows you to structure your relationship with your partner in a way that suits your business. In your Partnership Agreement, the details of your roles, rights, details of activities of your business, contributions, distribution of profits, and how disputes will be settled, along with other important clauses will be included. Most contract lawyers work on an hourly basis but I work on a flat-rate basis to draft your Business Partnership Agreement which is more transparent and does not lead to any surprises down the line. If you’d like to get your Business Partnership Agreement drafted or emailed, email me at sam@mollaeilaw.com   What is a Business Partnership Agreement? A business partnership agreement is an agreement between two or more parties on how to run the business and their various responsibilities/duties. The concept of a simple partnership agreement is quite easy to understand. But that doesn’t mean it can’t get complex. …

How to Start My Own Business

Starting a business in the United States can be both overwhelming and invigorating. But – if you do it right – it can also be a very profitable experience that will set you up for life. Today, I’m going to provide you with an actionable 13 step guide on how to establish your own business within the United States. Hi, my name is Sam Mollaei and I’ve helped many aspiring entrepreneurs – just like yourself – establish their own business in the United States. You can email me at sam@mollaeilaw.com and be the next entrepreneur I assist. With the assistance of my 13-step guide, you will have EVERYTHING you need to set up a business within the United States. By making the decision to set up a business in the United States, you gain access to an economical powerhouse. And the best part? You don’t have to live in the U.S. to manage a U.S. business. You just need to know how, and my 13-step guide can help. Please click on any of my actionable steps to be taken to …

How to Start a Corporation in California

You’ve decided to start a new business in the state of California. You’ve done the research on various business structures and corporation seems to be a good fit. While you should absolutely reach out to an experienced corporate attorney such as myself at sam@mollaeilaw.com to ensure corporation is the right choice, the next step is simple. How Do You Form a Corporation in California? If you follow my ten-step process, it isn’t too hard!   1. Select Your Corporate Name The name of your corporation needs to be unique to other businesses already established in the state of California. California Secretary of State and U.S. Patent & Trademark Office are great resources for checking the availability on potential business names. It is also important that your business name isn’t misleading. It needs to make sense for what the business actually is. You can also do a free preliminary check by mailing a Name Availability Inquiry Letter to the California Secretary of State’s office. Keep in mind, you have to mail it in as email inquiries are not an option. Finally, …

How to Own Your Own Business

One of the best things about America is that we are free to pursue our goals and dreams. For many, that includes the dream of owning a business and becoming financially independent. Unfortunately, starting your own business is a feat that many feel is unobtainable, a goal too large to conquer. That is simply not the case. Owning your own business is something you can easily accomplish if you battle the process one step at a time. Now, I am not saying becoming a business owner is easy. I am just saying it is not as far out of reach as you might think it is. My name is Sam Mollaei and I have spent many years as a business lawyer helping regular everyday men and women jumpstart their dreams of become a self-reliant entrepreneur here in the U.S. I want you to be successful, and I want to help you get there. If you are looking for expert advice and guidance on your journey to entrepreneurship, send me an e-mail today at sam@mollaeilaw.com.   Non-U.S. Residents Can Own U.S. …

General Partnership California

A general partnership (also known as simply a partnership) forms when two – or more – people decide to do business together to gain profit. While you do not have to do a formal filing or draw up a written agreement to establish a partnership in California, there are registration, filing, and tax requirements every business must comply with. Fortunately, establishing a general partnership in the state of California is a simple five step process. Follow my five-step guide and you’ll have your partnership established in no time. If you find the steps below to be a little unclear, please send me an email at sam@mollaeilaw.com and I’ll break it down for you.   1. Establish Your Partnership Name In the state of California, you have two options when it comes to your partnership name. You can operate on the surnames of your partners or you can create a fictitious business name. If you decide to do the second option, your name needs to be different from other company names currently on record in the state of California. Ideally, you …

Types of Companies

There is a wealth of decisions that go into forming a business in the United States. Arguably one of the most crucial in relation to taxation is the legal structure of your new business. In addition to taxes, this decision plays a role in how much paperwork you end up dealing with and your ow n personal liability in the company. It even factors into how you can raise money on your company’s behalf. The most well-known legal structures for a business include sole proprietorship, partnership, corporation, S corporation, and LLC. Limited liability partnership (LLP) is a newer development in the business world. Fortunately, you do have the option of kicking off your business as a sole proprietorship and reorganizing your structure if you decide to take on partners. So, it isn’t set in stone. Just make sure you notify the IRS if you make changes in the structure of your business. Whether this is your first business venture, or you have rode this rodeo before, I highly recommend reaching out to an experienced business lawyer such as myself at …

10 Low Investment Business Ideas for 2019

Entrepreneurship is taking the world by storm. Many people, both young and old, find that working a typical desk on is no longer fulfilling. Instead of forcing themselves to work at a job they hate, these individuals are thinking outside of the box and starting their own businesses. Worried that you’ll need a lot of cash to start your own company? With the following 10 investment ideas, you’ll be able to start your own business whenever you want: 1. Online Bakery This idea makes starting a restaurant easier than ever. By getting rid of the entire concept of a brick-and-mortar location, you can run your new business from the comfort of your own home. If you can master the art of baking goods like cookies, cakes, breads and more, you can easily take advantage of this business idea. Outside of obtaining stellar cooking skills and ingredients, all this investment requires is a website. Once you have your online business up and running, you’ll be able to cut costs by operating from your kitchen and delivering your baked goods on a per-sale …

#1 Reason to Have LLC for Rental Property

If you have rental property, you need to make sure you have the right business structure to protect yourself and your profits. I have helped hundreds of real estate investors setup LLC for rental property so they can avail the rental property LLC tax advantage from their real estate rental companies. With my knowledge of the system in specific states, I can make sure that you: Don’t have to take personal liability for when things go wrong. Protect as much of your profit from the IRS as possible. Make filing easy and simple. Want to know about some more benefits of LLC for rental property? In this post, you’re about to discover some of the reasons why an LLC for rental property is a great solution for you. If you have any questions about this topic at any time in this guide, email me at sam@mollaeilaw.com and I’ll provide you with a personalized answer. With that being said, here’s the best guide you’re going to find on LLCs, investing in rental properties across the nation, and how to start a …