The most common type of business entity formed last year in Texas was the limited liability company, or LLC. But what is a LLC? A limited liability company is a type of entity that combines characteristics of both partnerships and corporations. First, LLCs allow for pass-through tax status for income generated. This means any LLCs profits are accounted for on the owners (called a member in LLC terms) federal income tax report filed every year. Unlike a corporation, where the

Many parts of the Dallas/Ft. Worth area are booming with new businesses, such as Deep Ellum, Richardson, Hebron, and so on. Many new business owners are not aware some of the important legal considerations necessary to mitigate future liability on the part of the business, between the owners of the business, and each person themself. Here are 4 things every new business owner should consider to help decrease chances of future liability, headaches, and issues between business