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Will You Add? - Rhode island Corporations, Limited Liability Company (LLC), Partnerships, Small Business Law FAQS
I have seen many post on websites, broker chat rooms, outpost, and comment sections about mortgage leads being bad and down right fraudulent. Well I have taken this question to the next level, "Are mortgage leads still worth buying?"The answer is of course. I ran an experiment in late July that tested major mortgage lead websites and this is w
4) If I incorporate, will I need to do anything each year to keep the corporation in good standing?
Yes. An annual report filed with the Secretary of State is required each year listing the address of the business and the current shareholder/member. Typically, an attorney prepares this report and updates t
One question I ask my clients when they first contract my services to launch their new business is, are you ready for a change. Many can't say yes quick enough. They are prepared for a change to their life and it's routines. It is important to realize that your life will change. You won’t die or lose control and end up in a mental institution
Typically, yes. The single most important reason for incorporating is the fact that debts of the corporation and claims against the corporation will not adversely affect your home and other personal assets.
2) What is the difference between a corporation and a limited liability company (LLC) in Rhode Island?
Both a corporation and a limited liability company (LLC) provide asset protection against claims against your personal assets. The main difference between the two involves the treatment of profits and losses for income tax purposes. A corporation is a taxable entity and pays taxes on its profits. A limited liability company does not pay taxes on the corporate level, but its profits and losses are taxed on each member's own tax return. In a corporation the owners are referred to as shareholders and in a limited liability company the owners are referred to as members. The chief executive officer of a corporation is the President. The chief executive officer of a limited liability corporation is the Manager.
3) What will my lawyer need to know at our first meeting in order for him to incorporate my business?
You will need to provide the attorney with two or three potential names for the business so that he can determine if any of them are already used. The attorney will need to know the name of your accountant so that he can discuss with the accountant whether you should be a corporation or a limited liability company. The attorney will need to know the names, addresses and social security numbers of each of the shareholders/members of the corporation or limited liability company.
4) If I incorporate, will I need to do anything each year to keep the corporation in good standing?
Yes. An annual report filed with the Secretary of State is required each year listing the address of the business and the current shareholder/member. Typically, an attorney prepares this report and updates th
There is a restaurant in my town that exemplifies great marketing. In their first few months of business they have become an established dining destination in our market. They have become well-known and they have created a large and loyal customer base that continues to support them.And they've done this with no advertising.What'
3) What will my lawyer need to know at our first meeting in order for him to incorporate my business?
You will need to provide the attorney with two or three potential names for the business so that he can determine if any of them are already used. The attorney will need to know the name of your accountant so that he can discuss with the accountant whether you should be a corporation or a limited liability company. The attorney will need to know the names, addresses and social security numbers of each of the shareholders/members of the corporation or limited liability company.
4) If I incorporate, will I need to do anything each year to keep the corporation in good standing?
Yes. An annual report filed with the Secretary of State is required each year listing the address of the business and the current shareholder/member. Typically, an attorney prepares this report and updates t
Good Debt vs. Bad Debt. Many of you may be saying what is good debt and what is bad debt? Well let's start with debt. According to Webster's dictionary debt is, "something that is owed or that one is bound to pay to or perform for another or a liability or obligation to pay or render something".Is debt really good, no it’s not but the
3) What will my lawyer need to know at our first meeting in order for him to incorporate my business?
You will need to provide the attorney with two or three potential names for the business so that he can determine if any of them are already used. The attorney will need to know the name of your accountant so that he can discuss with the accountant whether you should be a corporation or a limited liability company. The attorney will need to know the names, addresses and social security numbers of each of the shareholders/members of the corporation or limited liability company.
4) If I incorporate, will I need to do anything each year to keep the corporation in good standing?
Yes. An annual report filed with the Secretary of State is required each year listing the address of the business and the current shareholder/member. Typically, an attorney prepares this report and updates t
Proponents of market efficiency divide risk into unsystematic and systematic. Unsystematic risk is not priced by everyone investing in the stock market. Here is an example to help you understand unsystematic risk. If you are considering investing in the stock market you could either buy specific stock in a specific company that you think wi
You will need to provide the attorney with two or three potential names for the business so that he can determine if any of them are already used. The attorney will need to know the name of your accountant so that he can discuss with the accountant whether you should be a corporation or a limited liability company. The attorney will need to know the names, addresses and social security numbers of each of the shareholders/members of the corporation or limited liability company.
4) If I incorporate, will I need to do anything each year to keep the corporation in good standing?
Yes. An annual report filed with the Secretary of State is required each year listing the address of the business and the current shareholder/member. Typically, an attorney prepares this report and updates t
Residual income is in the domain of the rich. While most people earn money proportional to the hours they spent working, the rich earn their money on a completely different way. Residual income is income that effectively generates itself and by doing the work once, you keep earning money for it over and over again. Imagine you can go to the of
4) If I incorporate, will I need to do anything each year to keep the corporation in good standing?
Yes. An annual report filed with the Secretary of State is required each year listing the address of the business and the current shareholder/member. Typically, an attorney prepares this report and updates the corporate minute book by preparing the minutes of the annual meeting.
5) If I am operating a business with another person, should I form a partnership or incorporate?
If you are in business with another person, at the very least you should have a partnership agreement indicating who owns the business and how decisions are made in the operation of the business. Another crucial aspect of the agreement will be determining what happens upon the death of one of the owners. Often, it is preferable to set up a corporation or limited liability company so that your personal assets will be protected from the debts of the partnership and for any claims for injuries or property damage resulting from the other partner.
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