Forming an LLC or PLLC can Safeguard Your Assets – Do it yourself Guide

If you are a professional or businessman you are definitely worried about lawsuits that have become so common place that it makes it necessary to safeguard your assets to protect yourselves. US laws afford us an opportunity to shield our personal assets from business liabilities and lawsuits; it is called a limited liability company (LLC) formed by businessmen or a Professional LLC formed by licensed professionals such as doctors, dentists and real estate agents. The limited liability company is one of the best ways to shield personal assets from any eventual business law suit or business liability arising out of accidents or mishaps from within the business. There are many other advantages of forming LLC or PLLC besides this. For example, tax benefits, IRS laws allow members of an LLC to declare gains or losses from the business personally allowing for a single taxation rather than double taxation as is the case when using a Corporation. 

A common belief that formalities of registering and maintaining an LLC or PLLC are too difficult to be managed by a common businessman or professional is a myth.  You don’t even need to hire an expensive attorney to form an LLC or PLLC. You can do it by yourself by visiting http://www.Free-Limited-Liability-Co.info that provides free easy guidelines and online document generation facility to help anyone create and prepare to register an LLC or PLLC.

Here are four easy steps to create your own LLC or PLLC:

The first step is either to  choose to hire an attorney to prepare your legal documents to form your LLC, which can be a bit expensive, or use a free and easy service like http://www.free-limited-liability-co.info to prepare your documents and file the application yourself by reading guidelines available at their website.

In second step, complete and file the required Articles or Organization available on most state websites yourself, or register at http://www.free-limited-liability-co.info and take advantage of their easy to complete form and let the software complete the from for you. The website guides you how to complete your information for filing the Articles of Organization which is automatically generated when after completing the form with your particulars.

Thirdly, submit the forms along with mandatory state fees to the related office of the state. In most of US states, this is the office of The Secretary of State.

Finally, fill out the IRS SS-4 application and send it to the IRS to receive your Employer identification Number, or EIN. If you are not sure you can hire someone else to do this for you, it may cost you more than $100 pr do it yourself online in minutes.

Having formed an LLC or Professional LLC, you can feel a sense of calm knowing you have taken a big step in protecting your personal assets from the liability of your company.  Once you form your LLC or PLLC, you and your company are two different entities. The taxes are treated as pass-through; there is no ownership restriction, and flexibility to structure the company as member (s) wish.