By On Nov 07, 2019 Templates
Many business owners choose to form an LLC because they are unfamiliar with the many legal nuances between different entity choices, and they simply assume that an LLC offers the most protection from risk because it has limited liability in its name. In reality, a properly formed and operated LLC does indeed limit the personal liability of the owners, as much as U.S. law allows, by affording the owners no personal risk above and beyond their investment in the company-but, in many instances, so do corporations and certain partnerships. Of course if a small business owner of any entity form fails to respect the separate and distinct identity of the business or observe statutorily required corporate formalities (such as co-mingling personal and business funds, paying owners instead of creditors, or failing to maintain a registered agent), the integrity of the corporate shield provided by law will be compromised and potentially expose the owners to personal liability. Generally speaking, though, the basic requirements to operate an LLC within the confines of the corporate statutes are not particularly onerous.
A cover letter is a quick way for you to summarize who you are, what position you are applying for and what skills and knowledge you have. But can not they just get the majority of that information from my resume? Yes, but at the same time, a cover letter is a great opportunity for you to introduce information that is not in your resume! Most people fail to realize this and just use the cover letter as an opportunity to regurgitate everything that is in their resume. Not only are they just doubling up useless information, they are missing out on a huge opportunity to engage a potential employer as well as showcase other skills or outside experiences that might not be on their resume but which are perfect for the position. You do not need to include every skill you possess in your cover letter, rather you use your cover letter to specifically target both the job and employer. Using the cover letter as a way to express to your potential employer what it is about the position that appeals to you and why you want to work for them is a great way to both introduce yourself and get them curious enough about who you are to keep reading.
Over the last decade, limited liability companies (LLCs) have become one of the most preferred forms of business entities through which to hold title to investment real estate properties. LLCs did not come into existence in the United States until 1977 when the State of Wyoming enacted special legislation to accommodate the needs of oil companies. Prior to LLCs, real estate investors seeking limited liability protection were largely limited to using corporations to acquire title—a form of entity that has potential drawbacks. Florida followed Wyomings lead a few years later by enacting its own LLC statute in 1982 and now all 50 states have enacted legislation creating some form of the LLC business structure. The insulation from personal risk exposure for real estate investors provided by LLCs, coupled with the relative ease of administration and potential tax benefits, make ownership of investment property through an LLC a very desirable option in most instances.
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