Incorporating a business is a way to shield yourself from personal liability, achieve tax breaks and can help you raise capital (by selling stock). Likewise, a limited liability company is just that - an organization that is intended to limit personal liability of the members of it.
Edwardsville, IL (PRWEB) January 14, 2009
Many businesses consider incorporating or forming an LLC the first of the year if they didn't start the process when they began the company. The key reason January is often popular is it makes for a smoother accounting process. Many businesses, however, neglect the idea when the task starts to get overwhelming. Owners can become confused in a maze of search results regarding who can do incorporation or form an LLC. The great news is one site, LegalBuffet.com, has a way to make the process of searching for an INC or LLC service easier and quicker.
But what does it mean to incorporate or form an LLC and why is it so important? Michelle St. Germain, St. Louis, MO lawyer and LegalBuffet.com blogger, explains.
"Incorporating a business is a way to shield yourself from personal liability, achieve tax breaks and can help you raise capital (by selling stock). Likewise, a limited liability company is just that - an organization that is intended to limit personal liability of the members of it."
St. Germain says there are differences between the two though. For example, LLCs can avoid being double taxed while corporations can raise capital more easily. So when deciding which you need - an INC or a LLC - it's best to look at your business today and your goals for the future. But still, a business isn't beholden to the choice they make.
"You can convert a sole-proprietorship to an INC or LLC at any time and it is possible to convert an LLC to an INC and vice versa," says St. Germain. "It does, however, make the process go more smoothly if you examine your goals closely before creating one or the other."
And that's where LegalBuffet.com comes in. It's a directory that allows visitors to search for legal websites in various area of law, including LLC or incorporation. Rather than conducting a search that might not wield proper results, visitors at LegalBuffet.com just click an area of law and an assortment of providers appear according to Melissa Gordon, owner and president of LegalBuffet.com.
"One of the main stumbling blocks companies face when incorporating or forming an LLC is finding sources that handle the process that's convenient," says Gordon. "For example, if you search for 'incorporation,' you might get a list of companies that are incorporated instead of places that do incorporation. With LegalBuffet.com all someone does is click a link or two in order to view a list of companies that offer that particular service along with other criteria that is helpful for the visitor. So it's a great feeling to develop a site that saves people hours, or even days, of endless searching."
To read more about incorporating or forming an LLC, or to explore their search results, visit http://LegalBuffet.com