Nolo?s Guide to Single-member Llcs : How to Form & Run Your Single-member Limited Liability Company

Many sole proprietors are now looking for limited liability protection to shield their personal assets from business creditors. Single-member LLCs are easy to form, simple to manage, and provide limited liability protection for their owners. This book provides the information business owners need to decide if an SMLLC is the right choice for them, and it walks them through the process for forming, funding, and maintaining the business. The focus is on single-member LLCs, as opposed to LLCs with more than one owner, and all of the tips, forms, and issues it discusses relate only to single-member LLCs.

Single-member LLCs are the popular business entity of choice for small businesses with one owner. Easy to form and operate, Single Member LLCs combine some of the most desirable features of older, more traditional business structures like corporations, partnerships, and sole proprietorships. With a Single Member LLC, you get personal liability protection, pass-through taxation, and flexibility of management.

This book provides an overview of everything you need to know about Single Member LLCs, including:

• whether an SMLLC is right for you
• what forms and documents you need to create an SMLLC
• how to initially fund an SMLLC
• how to prepare taxes for an SMLLC
• what kinds of records you need to maintain for your SMLLC, and
• liability issues specific to SMLLCs.

The book includes a sample operating agreement and written consent forms to open a bank account, purchase real estate, and more. Throughout the book, you will find tips and examples to help clarify the most important points.