Business FAQ

1. What is an LLC?

An LLC is a Limited Liability Corporation. This corporation can protect you from unexpected liabilities, such as someone getting injured on your business property. It can also protect you from creditors, if you are not personally guaranteed. There are many advantages to an LLC and the VAST majority of businesses are best formed as an LLC.

2. Do I need an LLC?

If you are planning on doing any type of business venture, we strongly recommend that you have an LLC. There are certain tax benefits from running your business as an LLC, not to mention the liability protections mentioned above.

3. What is an Operating Agreement?

An operating agreement is a document that explains how the business will work. It will lay out how the business is formed, who is in charge, who is in charge in specific circumstances that may not be the same person, how the business will function, and how the business will end or continue upon specific life events.

4. Do I need an Operating Agreement?

If there is more than one owner of the business, you absolutely need an operating agreement. Even when you are the sole owner of the business, there are circumstances where an operating agreement is helpful and beneficial, particularly if you are unable to continue running the business.

5. Why do I need a Lease Review?

Leases can be very simple, or they can be very complex. We have reviewed many leases and can explain to you what some of the most archaic and convoluted lease terms mean and how it will affect you. It is best to know exactly what you are agreeing to before you enter into a lease. This is generally one of a business’s largest fixed expenses and the terms can make or break your business.