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March 2020 Archives

Benefits of an LLC

Those considering a business formation in Louisiana might be wondering about the benefits of a limited liability company (LLC). An LLC is a business structure that must follow certain state statutes. Though these statutes vary by state, those who own an LLC are known as members. An LLC gives a business owner the limited liabilities of a corporation with the flexibility of being owning a sole proprietorship.

Limited liability companies

Louisiana residents who are thinking about launching a new venture have several options when it comes to choosing the form of legal entity that the business will operate under. They include sole proprietorships, partnerships, and corporations, but limited liability companies have become increasingly popular in the last several years.

Avoiding common mistakes when selling a company

Business owners in Louisiana and throughout the country may decide that now is the time to sell their companies. While the sale of a business can help to solidify a person's financial future, there are many pitfalls that can arise during the sale process. For instance, an individual may try to claim that his or her company is worth more than it truly is.

Buying a business? Consider these 3 tips

You have always wanted to start a business of your own, but you weren't sure where to begin. That is why you were so excited when you found out about a local business that was trying to sell. You know that it's profitable, and you want to take over.

Tax rates could influence how a trust is designed

Louisiana residents who receive money from a trust must generally account for it on their tax return. If money held in a trust generates revenue that remains inside of it, the trust will be responsible for paying taxes on those funds. As a general rule, the tax bracket for individuals is lower than the tax bracket occupied for a trust. Trusts pay a 37% tax rate if they generate annual income exceeding $12,950.

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