LLC stands for limited liability company. An LLC is a type of business structure that allows business owners to set up their businesses as separate entities for tax and liability purposes. This ensures that their personal assets are protected if something happens and the business is sued.
If you’re not sure if an LLC is right for you or you need some help setting everything up, schedule a meeting with our law firm. We can go over your options and let you know what benefits an LLC could offer. If you decide to set one up, we can make sure everything is done correctly and help you hide your personal identity from the public business in the process.
What Are the Benefits of Forming an LLC?
Forming an LLC offers many benefits to those considering opening up a business or who are ready to take a home-based business to the next level. The first is that it separates the business and the owner when it comes to liability, so the owner doesn’t have personal liability. Another benefit LLCs offer over some other business structures is that who can be a shareholder in the business is less restricted. An LLC also lets you take advantage of pass-through taxation, which means that taxes are paid at the individual level by the owner.
Why Should You Hide Your Identity When Forming an LLC?
Another advantage of LLCs is that there is the ability to form an anonymous limited liability company. This allows you to hide your personal identity from the business’ documents, so it’s not clear to someone who looks the business up that you are the owner. Some people want to keep their ownership private so that their business dealings aren’t connected to their private life. This can make owners feel more comfortable and make concerns like stalking and harassment of high-profile individuals less likely.
Can a Business Attorney Help Me?
Hiding your identity through an LLC can be a difficult process, and it’s a good idea to have a business attorney from Southern California who can help guide you through the process and ensure everything is done correctly. In some states, including California, anonymous LLCs aren’t allowed, and an attorney may have some alternatives for you to protect your privacy as much as possible when you’re creating a business. A lawyer can also advise you on the pros and cons of LLCs in general and let you know if another structure may be a better fit for your needs.
It’s normal to have questions about the process of forming a business, what structure is the right choice, and how to separate your personal and business lives. Call our law firm at 323-230-6200 to find out more about our services, our experience, and how we can help.