Top Tax Savings Tips When Paying Yourself as a Business Owner

How Should You be Paying Yourself as a Business Owner to Reduce Your and Your Business's Overall Tax Obligations? Our Guide Breaks Down the Details  Probably the most frequent question that small business owners ask their lawyers and accountants is “how should I be paying myself as a business owner” in a way that will allow [...]

What is a Registered Agent and Why Does a Business Need One?

In California, all businesses must have a registered agent. A registered agent,  also known as a resident agent or statutory agent, is a business or individual designated to receive service of process when a business entity is a party in a legal action such as a lawsuit or summons. The registered agent is the person authorized [...]

Can the Same Person be President/CEO, Treasurer/CFO and Secretary of a Corporation or LLC?

Whether at the initial founding stage or for annual meetings and officer elections, a question that comes up a lot is whether the same person can act as President or CEO, Treasurer or CFO, and Secretary, all at the same time, of C Corp, S Corp or LLC. Generally, the answer is yes.   If [...]

Registering Foreign LLPs in California

o   Verify that LLP is in good standing in jurisdiction of organization. o   Secure certificate of good standing from appropriate official or, if not used in jurisdiction of organization, draft statement to effect that relevant jurisdiction does not allow certificates of good standing. Corp C §16959(a)(2). o   File Application to Register a Limited Liability Partnership (Secretary of [...]

LLP (Limited Liability Partnership) Pre-Formation Considerations

Organizational Tasks File Application to Register a Limited Liability Partnership (Secretary of State Form LLP-1) with the Document Filing Support Unit of the California Secretary of State, together with applicable fee of $70. Corp C §16953(a); Govt C §12189(a). If LLP will rely on net worth security alternative, file Alternative Security Provision of a Limited Liability Partnership (Secretary of State [...]

Form Minutes

1.         Name of corporation: 2.         Date and time of meeting: 3.         Place of meeting: 4.         Type of meeting: [ ] Regular [ ] Special 5.         Meeting held pursuant to: [ ] Written notice (attach copy) [ ] Oral notice [ ] Date and location fixed by bylaws or otherwise (no [...]

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