LLCs are usually treated as pass-through entities by the IRS. An LLC itself doesn't pay taxes, only the people working for it so - the members of the LLC pay taxes on their share of the profits. However, members can decide to pay have the LLC taxed as a corporation...
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Month: January 2022
The pros and cons to family limited partnerships
Texas residents may want to learn more about the family limited partnership and its advantages and disadvantages. It is a partnership that a family (or extended family) may form for the a business purpose. A family may use it to run a family business or for holding...
Knowing the different benefits of an LLC and an LP
If you're setting up a new venture in Texas, using the proper business structure is essential to ensure that your needs and goals are met. A limited liability company, or LLC, and a limited partnership, or LP, are two popular business structures that you may want to...
Alternative ways to deal with a contract breach
Business dealings might involve signing a contract that locks the various parties into an agreement. An employee may sign a deal for a specific salary, or the business could sign an agreement with a product supplier. All parties must follow the terms of their contract...
