Hiding Behind the Corporate Veil?

I own a business that performed services for a company. The company was actually a one-man operation. Shortly after we completed our work, that company filed for bankruptcy. They owe us over $15,000 now. The company was always just operated by one person and I think he was the company‚Äôs only employee. I think he had to know when we did the work that he might be heading for bankruptcy. It is early to tell, but it looks like there will be little to no […]

Read More

What are the advantages of an LLC?

I own a small family business. Because of what we sell, I have recently worried about being sued. A family friend suggested that I form an LLC. What are the advantages of an LLC? A limited liability company, or LLC, is a unique type of business formation with many benefits. An LLC consists of one or more members and exists as an entity distinct from its members. For example, an LLC can hold property in its own name and sue or be sued. Profits and […]

Read More