Garrett Sutton

The Supreme Court of Florida took away a key asset protection benefit in deciding Olmstead v. Federal Trade Commission (SC 01-109, Fla. June 24, 2010). Before the ruling a charging order was the exclusive remedy, whereby the judgment creditor (the person who won a lawsuit) could only receive distributions from the LLC. Now, a judgment creditor may directly seize the ownership interest of a member in a single member LLC. Prior to the ruling many had believed that Florida law provided that the ch

Good standing sounds important. It conveys the sense of ethical and upright activities. It is a place from which you want (or should want) to operate. When it comes to corporations, LLCs and LPs good standing is a legal requirement. And the consequences of not being in good standing, while unfortunately unappreciated by most, can be devastating. Almost every state requires each corporation, LLC and LP formed there or qualified to do business there to file an annual report.

Good standing sounds important. It conveys the sense of ethical and upright activities. It is a place from which you want (or should want) to operate. When it comes to corporations, LLCs and LPs good standing is a legal requirement. And the consequences of not being in good standing, while unfortunately unappreciated by most, can be devastating. Almost every state requires each corporation, LLC and LP formed there or qualified to do business there to file an annual report.

Beware the temptation to jump into business before you’ve done the proper planning. And don’t underestimate that temptation. Once you have made up your mind to start a business, it is difficult to wait to get going. You want to start moving, making money, living the life you’ve dreamed of. But if you want your business to succeed, you must take the time to understand it, yourself, the industry, and the market.

Review Your Structures When Your Child Gets A Drivers License Your risk exposure goes through the roof when your child under 18 years old obtains a drivers license. Are you surprised? Didn’t you read the fine print? In most states, the application for an instruction permit or drivers license must be signed by a parent or custodian of the child. And by signing that simple form you agree to be responsible for the negligence or misconduct of the minor while they are driving.

If You Have Been Considering Forming a Corporation or Other Business Entity to Provide yourself With Limited Liability and Financing Options in Your Business Venture, You Have Made an Important First Step. You May Have Compared the Tax Benefits of Corporations and Limited Liability Companies or Limited Partnerships.

There's a Lot of Talk About Series Llcs. More and More People are Wondering if They're a Smart Idea. the Short Answer is That They Aren't - They Haven't Been Tested, Giving Them Limited Applications if They Have Any at All. first, Some Background. Llcs Alone are an Excellent Structure for Many Different Uses. for Instance, They Work Well as a Method of Holding High Dollar Assets Like Real Estate.

A C Corp Has the Widest Range of Deductions and Expenses Allowed by the Irs, Especially in the Area of Employee Fringe Benefits. a C Corp Can Set Up Medical Reimbursement and Other Employee Benefits, and Deduct the Costs of Running These Programs, Including All Premiums Paid. the Employees, Including You as the Owner/shareholder, Will Also not Pay Taxes on the Value of Those Benefits.

Corporate Entities Come in Three Categories: the Good, the Bad, and the Ugly. But Even Among the Good, One Size Does not Fit All. Choosing the Wrong Corporate Entity Can Cost You Time, Money, and Your Personal Assets.

Many New Business Owners Make the Mistake of not Properly Accounting for it All. Please Know That Companies Live and Die by Numbers. They are Defined by Numbers. They Grow With Numbers. They Bleed With Numbers. Numbers Define the Health of Your Business at Any Given Time and Over Time.