personal income tax

Limited Liability Company: Five Most Commonly-Asked Questions

Have you ever encountered “LLC”? Maybe you have noticed some business firms having such three letters instead of the letters “Co.” which signifies their business entity as a corporation. If you are unfamiliar with business trends, you will find it hard to understand what is LLC and its attributes.

This article will give you insights and basic ideas about LLC by answering five of the most commonly-asked questions with regards to the subject. In case you are planning to establish you own business, you can use these questions and answers as a guide if you will consider LLC as part of your business identity. Continue reading and learn more about LLC.

Incorporate vs. LLC: Which Three Letters Should be Placed at the End of your Business Firm’s Name?

Incorporate (Inc.) and LLC (Limited Liability Company). Both are significant, yet it has different features. Which of these three letters should you incorporate in your business name and why? This question will be answered through the discussion in this article with regards to the similarities, differences, and the advantages of incorporating and forming an LLC.

To decide whether you need to incorporate or form an LLC, let us first look on the similarities and differences of these two types of business structure.

The major similarities between LLCs and incorporation are as follows:

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