Protecting Your Assets
Protecting Your Assets
| Piedmont LLCreations opened in 1978 and has proudly been serving Central Virginia and the surrounding area now for 31 years. We opened our company to assist individuals in navigating through all of the legalities of forming an LLC. Piedmont has strived to be the best at this and thanks to our repeat customers feel we have achieved our goal. At Piedmont LLCreations we strive to deliver great quality and incredible service every time and feel that your satisfaction should be guaranteed! We will continue to deliver on this promise by giving you unparalleled service, competitive prices, and the attention you deserve while going through this process. We truly look forward to helping you get your new business up and running. |
What are the advantages of forming an LLC (Limited Liablity Company)? LLC benefits are compelling. It's worth taking a serious look at choosing an LLC over a corporation or other business structure. The advantages of forming an LLC are that the members are afforded limited liability and have pass-through taxes similar to a partnership. By forming an LLC instead of a corporation, you get all the benefits of forming a corporation but you avoid a few drawbacks that you would run into if you formed a corporation. Specifically, when you form a corporation, you subject yourself to double taxation and excessive paperwork. Both of those annoyances can be avoided if you form an LLC. |
How Do LLCs Work? The LLC allows for multiple owners, or members. Additionally, there is a managing member, who also enjoys the rewards of limited liability and is typically the person responsible for managing the business. (However, if the LLC has just one owner, it will be taxed as a sole proprietorship.) The profits or losses of the business pass directly through to the owners' personal income tax returns, on their Form 1040. The LLC files a Form 1065, and then lists each member's taxable profit on Form K-1. In other words, the LLC itself does not file taxes. This is what we mean when we say you avoid double taxation with an LLC. In a corporation, it works differently. The corporation is taxed and, accordingly, must file taxes. Then, distributions to the owners are taxed. In essence, the government takes two bites out of your revenues instead of the one bite they'll take if you've form an LLC instead of a corporation. |
| Do you have what it takes to be a successful entrepreneur? Successful entrepreneurs come from every type of background. While the failure risk is real, two-thirds of new small employers survive at least two years, according to the Small Business Administration. Although there are many “self-tests” available to guide potential entrepreneurs through an assessment of their experiences and skills as compared to those of the “typical” successful entrepreneur. These self-tests are only tools to provoke thought, not valid predictive instruments. |
| Resource Center |
| We have provided the following links to help you in your new and exciting adventure. |
| Tax Issues for LLC Pub 3402 Virginia - DMBE Department of Minority Business Enterprise Community Business Partnership Building Businesses in Fairfax County and Beyond VaStartup.org Moving your business forward Virginia Business Intelligence for and about Virginia's business community U.S. Small Business Administration Your small business resource Top 10 Ways to Get Sued Guaranteed by William Bronchick, Esq. Download - Small Business Checklist Do you have all the neccesarry pieces in place? (Please chose a file format) Download 2007 Word Document Download 97-2003 Word Document |
Keith L. Brown, Founder
1514 Addie Lane
Culpeper, Virginia 22701
Phone: (540) 270-5188
KLB5019@comcast.net
1514 Addie Lane
Culpeper, Virginia 22701
Phone: (540) 270-5188
KLB5019@comcast.net
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