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Answer Upon - Separate Properties, Separate LLC's
Last time I was hiking in Montana's Glacier National Park, I stopped to view through binoculars, a mountain goat trekking atop a rock cliff. My husband, viewing the switch-back trail we'd just climbed, happened to see a grizzly bear cross behind a group of hikers a hundred yards below us. With my narrowed focus, I never saw the bear. Our different views yielded different impressions.It's
Sometimes, new entrepreneurs are in such a rush to get started at their businesses that they jump right into working with customers without giving much thought to their BUSINESS NAME. “I’ll just do business under my own name for a while, until I find something I like.” While it seems easy at the time, you might want to re-think the plan to change business names down the road. You will find tha
Consider the following example: you have worked hard over the last several years and your business is starting to take off. You have made the wise decision of forming an LLC, or Limited Liability Company, to own your business. Lets call it Big Biz, LLC. After taking distributions from the profits of Big Biz to support yourself and your family there is still a decent amount of money left over. Lets say there is $45,000 that you would like to invest in real estate. After considering your options and conducting your due diligence you find three small rental properties that you decide to purchase. You put $15,000 down on each and finance the rest through your local bank at a favorable rate. All three properties are owned by Big Biz. Each property throws off a cash flow of $300 each month that contributes to the overall income enjoyed by Big Biz. This monthly cash flow of $900 and the continuing
Many banks and financial institutions offer need base solutions, exclusively for businesses and corporates. Businesses can also apply for loans and avail of other services through their business banking accounts. Small businesses apply for a loan, while growing or expanding. Therefore, they prefer to be in contact with an institution that can offer specific solutions to their needs.Many
Consider the following example: you have worked hard over the last several years and your business is starting to take off. You have made the wise decision of forming an LLC, or Limited Liability Company, to own your business. Lets call it Big Biz, LLC. After taking distributions from the profits of Big Biz to support yourself and your family there is still a decent amount of money left over. Lets say there is $45,000 that you would like to invest in real estate. After considering your options and conducting your due diligence you find three small rental properties that you decide to purchase. You put $15,000 down on each and finance the rest through your local bank at a favorable rate. All three properties are owned by Big Biz. Each property throws off a cash flow of $300 each month that contributes to the overall income enjoyed by Big Biz. This monthly cash flow of $900 and the continuing
The Disneyland Hotel recently tarnished Mickey’s reputation with an influential customer from Seattle. Mark stayed at a hotel inside the park with his family for three days. He attended a legal seminar while his family enjoyed Disney rides, ate Disney meals and spent at Disney plenty! His seminar ended at noon on the third day, but hotel checkout was 11:00 am.On the second night Mark ask
One of the recurring themes in Dilbert cartoon strips is the situation where management has set an impossible deadline for something that probably couldn't be done in the first place. It usually results in large numbers of people working overtime to produce something they know isn't likely to work. Unfortunately, this scene is also being played out between advertisers and their Web developers,
As economic and political spaces between nations become smaller and international trade continues to increase, the movement of people between countries is becoming more fluid. With competition for talented global workers increasing, companies are becoming increasingly aware that creating a cross cultural environment in the workplace is critical for long-term success.Cross cultural traini
Your tenants all seem to be decent people and there have not been any significant problems. However, the winter rolls around and one morning a tenant slips and falls on their front step before your maintenance person has a chance to salt it. The fall is a bad one and they end up in the hospital with fairly serious injuries. You send them a “Get Well Soon!” card and think nothing more of it until you get a phone call from their lawyer. The lawyer informs you that you are being sued for negligence. They take you to court! You are not too worried because you took the smart route and formed an LLC so you know that you are protected. WRONG! It is true that your personal assets, such as your home, cars, etc are protected. However, everything, and I mean EVERYTHING, that Big Biz owns is fair game. They can
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