LLC stands for Limited Liability Company, which is a type of business structure that combines the liability protection of a corporation with the tax benefits and flexibility of a partnership. In an LLC, the owners are known as members, and they are not personally liable for the debts or legal liabilities of the company.

LLCs are popular among small business owners because they offer several advantages, including:

1. Limited Liability: Members are not personally liable for the company's debts or legal liabilities. Their personal assets are protected from business-related claims and lawsuits.

2. Pass-Through Taxation: LLCs are not taxed as a separate entity, and instead, profits and losses are passed through to the members and reported on their personal tax returns.

3. Flexibility: LLCs are flexible in terms of ownership, management, and taxation. There are no restrictions on the number of members, and the company can be managed by the members themselves or by outside managers.

4. Credibility: Operating as an LLC can lend credibility to a business, making it easier to attract customers, partners, and investors.

Overall, LLCs offer a good balance of liability protection, tax benefits, and flexibility for small businesses. However, the specific advantages and disadvantages of forming an LLC will depend on the unique circumstances of each business.

🡆 Connect
Rummy Dhanoa: (914) 920.2289 / Rummy@nyreex.com
George Payamps: (347) 963-1695
Rocky Thomas: (212) 810-7570

Connect With Me On Social Media:
Facebook → https://bit.ly/3q1smMC
Instagram →https://bit.ly/3AD8kNr
LinkedIn → https://bit.ly/3DXQO8e

About (Rummy Dhanoa "Your Real Estate Experts")
**Licensed Sale Person Since 2001
**Sold over 300 Million sale volume
-Ranked #1 Agent Top 5 In Westchester for 2022
-Ranked # 1 Agent of Yonkers 10 YEARS In a row from 2012 through 2022 I
-Homelight Top Producing Agent From 2019 to 2022
-Ranked Top 2% In New Year by HomeSnap, Realtor.com, and Zillow
-Ranked Top 3% in eXp Realty \Y (TEAM & AGENT BUILDER)
-4x ICON Agent w/eXp Realty
-TOP 1% OF ALL AGENTS IN SALES IN WESTCHESTER COUNTY FROM 2010-2022
-Westchester Magazine's 5-Star Agent From 2010 to 2022
-Top 1% of Realtors/Team Leaders Worldwide
-Realtor, Team Leader, Coach, Mentor

#NeverGiveUp #NGU #NGU_neverGiveup #RealEstateTip #Realtor #Realestate #BuildYourLegacy #Realestateagent #NoExcuses #BuildingLegacy