Jeff Phillips’ Post

A Limited Liability Company (LLC) combines the best of both worlds for entrepreneurs. With limited liability protection, an LLC shields personal assets from business debts, providing financial security. It offers flexibility in management, allowing members to choose their level of involvement. Enjoying pass-through taxation, an LLC avoids double taxation and streamlines administrative requirements, making it an excellent choice for small to medium-sized businesses. With ownership flexibility, an LLC accommodates various members, fostering adaptability. Crafting an Operating Agreement is recommended for governance clarity. Whether seeking perpetual existence or a specified duration, an LLC aligns with long-term business goals. For credibility and professionalism, an LLC structure is a solid foundation, appealing to investors and customers alike. Ready to explore the possibilities of forming an LLC for your juice bar? Connect with Start A Juice Bar consultancy for tailored guidance. Our experts can provide insights and assistance in navigating the regulatory landscape, ensuring your juice bar operates with the advantages of an LLC structure. Elevate your business journey with a structure that aligns with your goals—contact Start A Juice Bar today!

From CPAs to trade names to hiring practices, we’re sharing our tips that new entrepreneurs should know when launching their own #SmallBusiness. Take a look to make sure you’re on the right track.

Choosing the right business structure is an important moment in your entrepreneurial journey. But how do you know which structure is right for you? There are so many factors to consider when choosing a business entity, that no one answer will be right for everyone. We often have people say they want an LLC because it’s the simplest to form. This is a common misconception. An LLC is actually one of the most complex and sophisticated business structures available. It is appropriate only in certain circumstances. There are four basic business structures to choose from. Keep in mind that there are legal rules and there are tax rules. You may hear terminology that that confuses the two, but consider them separately. 1️⃣ Corporation – Can be taxed as a C corporation or an S corporation 2️⃣ LLC – Can be taxed as a C or S corporation, a partnership or a sole proprietor 3️⃣ Partnership – Taxed as a Partnership 4️⃣ Sole Proprietor – Taxed as a Sole Proprietor Now, let's chat to determine the right fit for you. Book your introductory call with us to get started! https://loom.ly/WgzUZLo

Since starting our own firm, I can’t count the number of lawyers who have approached me and said they wish they had the confidence to do what we did. Also, many have indicated to me how fed up they are of the traditional law firm structure with too much politics, little control, and unfairness in the renumeration and promotion processes. These lawyers want something different and more control over what they do. Well Roy and I certainly feel that we have found the solution working within the Excello network. Not only do we have our own legal business but a network which supports us in administering our business and providing good referrals. Our new business was set up within weeks and we were fully supported by Excello through the process. Four months in, we are incredibly proud of what we have achieved, which has beat all projections and expectations with most major clients and many employees following us. We are totally free to run the business the way we want to and give it the right support to ensure the firm and our colleagues are successful. Yes, there have been challenges but this is what makes the whole experience enjoyable and rewarding. I would encourage others, who are unhappy where they are, to seek to address those issues and consider other routes. Setting up on your own is far more rewarding in so many different ways and brings you even closer to understanding the challenges of your clients in running their own businesses. Now we are able to focus 100 per cent on our clients and delivering the best possible service to them. As Duncan Bannatyne said in his inspiring book “if I can do it, anyone can”.

Choosing the Right Business Entity: A Guide for Entrepreneurs As an entrepreneur, one of the most important decisions you'll make is choosing the right business entity for your venture. Each type of entity has its own advantages and disadvantages in terms of liability protection, tax treatment, and administrative requirements. Let's explore four common business entities to help you make an informed decision. - Single-Member LLC / Sole Proprietorship - Partnership - S Corporation - C Corporation https://lnkd.in/g5CQvV_G

Thinking of transitioning from Sole Proprietor to LLC? It's simpler than you think! Get expert advice and practical tips from our guide to make your move confidently. 📚 https://hubs.li/Q02jbFyj0 #businesstransition

☄️Burn every boat - Scrap every contingency plan 👨🏿🦱Me: I want to start 2 businesses; a recruitment company and a barber shop to spread the risk effectively 👨🏼💻Accountant: Can you cut hair? 👨🏿🦱Me: No?? 👨🏼💻Accountant: Well why do you want to buy a barbers shop then? 👨🏿🦱Me: It's just a backup plan I’m not saying don’t own multiple businesses or only one stream of income But if your starting something burn every fucking boat so you have to succeed.

Did you know that Florida is a prime destination for business transactions? The Sunshine State offers unique advantages to entrepreneurs looking to take the next big step and buy a business. Not only is there no corporate income tax on S-corporations and Limited Partnerships, but there are also many exemptions to enjoy; ranging from capital stock from corporate franchise tax to goods-in-transit from property tax (for 180 days). Explore the perks here in Florida and make your big business move today!

Starting a Business? Let’s Get the Structure Right! Choosing the right business structure is crucial, and at Hammond & Co, we can guide you through the tax and legal implications to help you make the best decision. 🏢 Whether you’re just starting out or recently launched your business in Chesterfield, our experts are here to help you select the ideal structure for your future success. Get the right foundation for your business—partner with us today! 👉 https://lnkd.in/eHNkCSA3 #BusinessAdvice #ChesterfieldBusiness #StartUpSupport #HammondAndCo #BusinessStructures

Your LLC operating agreement is an important contract that should not be simply downloaded and put into service. Why is an LLC operating agreement so important and why do most new LLC members and entrepreneurs miss this important document? Many legal download sites provide new business start-up packages which are supposed to help you save a few dollars when starting a new business. https://lnkd.in/gNy6cBmN