Piercing the Corporate Veil – What does it mean, exactly? First, let’s start with the concept of a corporation or limited liability company (LLC). Because they are in and of themselves “entities,” corporations and LLC’s have a legal existence – rights and liabilities distinct from their owners. So, the officers and shareholders are normally not…
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Question: Can my LLC be taxed as an S-corporation? Answer: Yes. One of the great features of a limited liability company is that it has numerous options for tax classification. These options include sole proprietorship/disregarded entity, partnership, S-corporation and C-corporation tax classifications. For single member LLCs or husband and wife community property LLCs, the default…
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The services our firm provides are largely dedicated to helping individuals, families, entrepreneurs and companies save on their legal costs. That is, our attorneys endeavor to decrease our clients’ exposure to liability and litigation. Neal Law Firm has taken this approach on behalf of numerous small businesses. Here are the top seven business legal issues…
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Should I put my investment property into an LLC? Yes! An investment property is real estate that is not your primary residence and is purchased or used in order to generate income by appreciation, leasing, taking advantage of tax benefits or other uses. As corporate vehicles go, the LLC (limited liability company) protects its owner-members’…
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Question: I want to form an Arizona LLC. I know I need to file articles of organization with the Arizona Corporation Commission, but do I need an operating agreement too? What if I am going to be the only member of the LLC? Answer: Every LLC should have one. An operating agreement is one of…
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