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Not all small business loans require personal guarantees, so you’ll want to review all your options before signing a loan agreement. Even so, if you have subprime credit or a lender considers ...
Partnership. C corporation. S corporation. Formation. Business license (and possible a “doing business as” (DBA), depending on your state), partnership agreement not required but recommended
One of the most popular ways to organize a business is as a limited liability company, otherwise known as an LLC. LLCs require less paperwork than C corporations and S corporations, while giving ...
[1] [2] A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit "piercing the corporate veil."
There are various exceptions, excluding from the Section 409A rules compensation that would otherwise fall within this definition, including: qualified plans like the pension and 401(k) plans, and welfare benefits including vacation leave, sick leave, disability pay, or death benefit plan.
An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".