WHAT IS AN LLC AND WHY SHOULD IT BE A SUITABLE OPTION FOR YOUR NEEDS
Limited liability companies (LLCs) are a popular business structure in the USA that offer limited liability protection to their owners. They are also flexible and can be used for a variety of businesses. If you're looking for a business structure that offers both liability protection and flexibility, an LLC may be a good option for you.
Limited liability protection:
The owner/s of an LLC business are protected and not personally liable for the debts and liabilities of the business. This means your personal assets are not at risk if your LLC business faces Bankruptcy or Lawsuits.
Flexibility for taxation
An LLC can be taxed as either a corporation or a partnership (LLP) This gives the owners flexibility on how they want to be taxed.
Simplicity on formation and operation:
LLC companies are relatively easy to form and start trading. There are no complicated corporate formalities to follow.