The Grapevine Network LLC

The Basics of Forming a Limited Liability Company (LLC)   The Basics of Forming a Limited Liability Company (LLC) The thought of “being your own boss” is sure exciting and if you plan to do it by setting up your business and are ready with a business plan, the next crucial step is deciding the right business structure. This decision has far-reaching repercussions for the business and thus requires careful selection. The factors like personal liability, regulations, tax treatment, etc are governed by the form of your business entity which could be a  Sole Proprietorship ,  Corporation ,  Partnership , or a Limited Liability Company ( LLC ). One of the easy, efficient, and fast ways to start a company is to  set up a Limited Liability Company  (LLC). Let’s explore what exactly is an LLC, its suitability, advantages, and disadvantages, along with other fundamental factors that can help you decide if an LLC is right for you and your business. What Is an LLC? Th...

  Partnership: Definition, How It Works, Taxation, and Types Investopedia / Matthew Collins What Is a Partnership? A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners may have  limited liability . There also is the so-called "silent partner," in which one party is not involved in the day-to-day operations of the business. KEY TAKEAWAYS A partnership is an arrangement between two or more people to oversee business operations and share its profits and liabilities. In a general partnership company, all members share both profits and liabilities. Professionals like doctors and lawyers often form a limited liability partnership. There may be tax benefits to a partnership compared to a corporation. 0 seconds of 1 minute, 29 seconds Volume 75%  ...