When Does My LLC Need an Operating Agreement?

When Does My LLC Need an Operating Agreement?

The Limited Liability Company (LLC) is one of the more common forms of business ownership for small business owners. LLCs offer flexibility, can provide asset protection, and in some cases, might provide tax advantages for a small business owner. LLCs can also use...

Asset Protection: Why Should I Care About It?

So what is asset protection? And why might I need it? Asset protection planning is about protecting your assets from creditors or other predators, BUT it’s not just for the super-wealthy. Before you think, “this doesn’t apply to me,” we...

4 Important Reasons Small Business Owners Need to Plan

Planning is a must for small business owners. Market studies show that 65-75% of individuals surveyed have not created estate plans, or their plans are outdated and ineffective. The percentage of unprotected individuals and families is usually higher for younger...

Why is an operating agreement important for my LLC?

Types of Businesses and Why They Need an Operating Agreement Businesses come in many forms ranging from the simple one owner sole proprietorship to the more complex Limited Liability Company (LLC) or Corporation. Most states, Missouri and Kansas included, have simple...

9 Practical Things Every Operating Agreement Should Have

With an MMLLC (see more about types of businesses and why they need operating agreements here), the Members must agree on a variety of items for the ongoing operation of the company. Many banks require the LLC to have an operating agreement to ensure the business is...