Most “DIY” startups will form an LLC by filing articles of organization with the state and obtaining an EIN number. While these two steps are the start of a company, it is the MINIMUM that one should do when forming an LLC. If you have two or more owners (“members”) in your LLC, it is […]
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By William Bronchick, Esq. and Bronchick Law In this very short video, I will discuss the differences between using LLCs and land trusts for holding real estate. Listen and learn!
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Many people flock to websites like LEGALZOOMTM to do their LLC filings to form an LLC in Colorado. The #1 reason they do is that they think it’s easier, faster and cheaper than using a lawyer. Let’s compare… Review – LEGALZOOMTM is not a law firm, they just play one on TV. Seriously, famous OJ attorney Robert […]
Read More Many people are operating full or part-time small business and seeking to incorporate for tax reasons, professionalism, and liability protection. However, most of them are getting it wrong in choosing an entity. The popular thing to do is form an LLC (limited liability company) because it is simple and requires fewer formalities than a corporation. […]
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By Attorney William Bronchick Here it is, the official, “Top 10 Ways to Get Sued” – guaranteed! In our previous post, we covered the 1st 5 Ways to Get Sued and NOW in Part 2, we will cover 5 more ways! Here are numbers 6-10. 6. Try to Call Employees Independent Contractors. Many employers hire employees, but […]
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By William Bronchick, Esq. Land Trusts can be a way to legally “smokescreen ownership of a property. Although it does not provide liability protection (this is done through a correct entity) it is an additional layer of protection against people that want to try to bring a frivolous lawsuit against you, among other advantages. It’s […]
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The internet is flooded with various articles that portray forming a Colorado LLC as the easiest thing in the world, and that you do not need a lawyer to help you with it. According to them, filling up the blanks in ready-made online templates is enough to form a Colorado LLC successfully. Although you can set up a […]
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Business entities come in so many types in Colorado that business owners can easily get confused. Here’s a quick guide that will hopefully shed a little light on business entities for you. Sole Proprietorship: A business owned and controlled by one person. The designation provides no protection from business liabilities. It is taxed on the person’s […]
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Business entities come in so many types that business owners can easily get confused. Hereís a quick guide that will hopefully shed a little light on business entities for you. Business Entities “C” Corporation: A corporation whose shares are held by shareholders. The entity stands apart from the shareholders for legal and tax purposes. The […]
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Whenever hear one of those Nevada corporations scams ad on the radio it makes me cringe. While Nevada corporations are appropriate in certain circumstances, they have little value for real estate investors outside of the state of Nevada. Here are the reasons the promoters give for using Nevada corporations, and my debunking of them: 1. […]
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