LLP VS. LLC: What Is The Difference?

LLP VS. LLC: What Is The Difference?

Every business entity available was designed to provide advantages to certain types of owners and business models. LLCs and LLPs have similarities that can make it confusing to know which is best to choose. Here are five differences between the two that can help...
How do you form a Limited Liability Partnership (LLP)?

How do you form a Limited Liability Partnership (LLP)?

According to Forbes.com, in some states, licensed professionals cannot form C-corporations. LLPs give these professionals the ability to build a business with partners and investors while limiting their risk. The process for forming an LLP varies from state to state....
What is a Limited Liability Partnership (LLP)?

What is a Limited Liability Partnership (LLP)?

When two or more people decide to build a business together, one of the business structures they can elect is a Limited Liability Partnership (LLP). An alternative to forming an LLC or a C-Corpporation, the LLP allows partners to invest while limiting each partner’s...
What Are The Disadvantages of an LLC?

What Are The Disadvantages of an LLC?

With the popularity of LLCs as a business entity, growing from 17,000 in 1993 to over 2.5 million in 2015, you might think there were no disadvantages. However, there are a few to consider when choosing a business entity for your company. Changes In Ownership In some...
What Are The Advantages of an LLC?

What Are The Advantages of an LLC?

Over the past twenty years, the rapid growth of LLC filings is evidence of advantages that are popular with new and existing business owners. Below are the top advantages of an LLC business entity. Taxation Options Many business owners choose an LLC over a corporation...