doola blog category: Learn

LLCs offer great perks, but they also cost money to start and maintain. Business owners will incur annual costs to keep your LLC up and running. You may wonder if the costs to maintain an LLC are worth it, but it turns out LLC annual costs aren’t expensive. It only costs a few hundred dollars…

Starting a business is exciting. You can reach new customers and develop a reliable income source. For some people, a business can be the best path forward. People convicted of felonies have fewer choices in the job market, but getting on the right track and starting a business can give you more control and expand…

Mortgages make it easier to buy real estate. These financial products have several advantages, but you can sweeten the deal by transferring your mortgage to an LLC. Limited liability companies give you extra protection and can help you save money compared to not putting your mortgage into one of these business entities. This guide will…

A trust can act as a fiduciary and oversee assets on your behalf. Trusts are commonly used to manage generational wealth with guidelines so heirs can use the money more effectively. Trusts can also become members of LLCs and manage business assets within the account. This guide will explore how to turn a trust into…

LLCs offer many advantages for business owners. They separate your personal assets from your business assets and offer legal protection. You can also capitalize on tax benefits and reduce how much money you give to the IRS. LLCs can contain various assets, but some business owners consider putting their property into their LLCs. This guide…

There’s a lot of talk about EIN or Employer Identification Numbers whenever LLCs are discussed. An EIN is a unique nine-digit number that the IRS uses to identify businesses for tax purposes. It’s not uncommon to come across questions from new business owners such as can I use my social security number as my EIN…

LLC owning another LLC is not only possible but it may even be advantageous if you’re looking to run a diversified business. This would be what’s referred to as a holding company structure. It enables a business owner to increase their liability protection so that if one part of the business fails, it doesn’t bring…

The details of your limited liability company (LLC) aren’t set in stone. There tends to be a misconception that whatever was filed with the Articles of Organization will remain unchanged for as long as the LLC remains active. That couldn’t be further from the truth. You can make changes to these details by filing the…

Lawsuits against small to medium-sized businesses are more common than one may think.In fact, 53% are involved in at least one lawsuit at any given moment. With this in mind, as a savvy business owner, how can one shield their personal wealth from potential business liabilities with LLC asset protection? In this article, we explore…

Considering there are multiple members in the structure of an LLC (Limited Liability Company), it’s understandable for there to be speculation on who rightfully owns the LLC. And in this era of complex business frameworks, many are left trying to decipher the enigma of who owns an LLC. If you’re among the many seeking clarity,…

re you ready to supercharge your business’s growth and financial strategy but concerned about the potential complexities of converting your LLC into an S Corp? In this article, we explore how this transition can elevate your business — presenting tax benefits, increased flexibility, and fresh avenues for growth.  Read on to learn the essential stages,…

There’s one big reason why South Carolina LLCs are comparatively easier to manage compared to other states. South Carolina doesn’t require LLCs to file an annual report, a requirement that most other states place on LLCs in their territory. The lack of annual filings is one of the reasons why many entrepreneurs now want to…