by Durham Law Firm | Aug 4, 2022 | Business
Starting your own company is easy. However, making the correct choice for your business entity type is challenging. Determining which business entity is right for your business is essential to take full advantage of your chosen model’s benefits. Let’s look at common...
by Durham Law Firm | Jul 28, 2022 | Business
If you need an EIN for your LLC in North Carolina, don't worry. The process of obtaining one is simple and free. But what is an EIN and why do you need one for your business? Find out why you need an EIN, how to apply for an EIN, and how to start your LLC off right in...
by Durham Law Firm | Jul 20, 2022 | Business
What is a disregarded entity? In the most basic sense, it is a business type that the federal government ignores for tax purposes. The most common disregarded entity for federal income tax purposes is the single-member limited liability company (SMLLC). Let's look at...
by Durham Law Firm | Jul 15, 2022 | HWH Updates
As a member managed LLC member, part of your role is to act in good faith and put the interests of the LLC above your own. Your fiduciary duty includes making decisions that are in the best interest of the LLC. It's also crucial that you do not take advantage of your...
by Durham Law Firm | Jul 7, 2022 | Business
When starting a business, one of the first decisions you’ll need to make is what business structure to use. There are a few different options to get off the ground as a business, but two of the most common ways to start include getting a business license and starting...
by Durham Law Firm | Jun 30, 2022 | Business
Does an LLC S Corp get a 1099? As an LLC that has elected S-Corp status for tax purposes, the answer is "No." You are not required to receive a Form 1099 from clients or businesses that contract with you. Instead, you report your earnings directly to the...
by Durham Law Firm | Jun 23, 2022 | Business
If you're thinking about starting a business in North Carolina, you'll need to choose the right business structure. One option is a general partnership: an association of two or more persons carrying on a business for profit. However, this type of partnership doesn't...
by Durham Law Firm | Jun 16, 2022 | Business
When starting a new business, one of the first decisions you'll need to make is what type of business structure you need. There are many different types of entities to choose from, but two of the most common are the S corp and the C corp. Find out about the...
by Durham Law Firm | Jun 10, 2022 | Business
If you're considering starting a North Carolina business, you're not alone. According to the Kauffman Index of Startup Activity, the Tar Heel State is one of the most popular places in the country to launch a company. While it's certainly not easy to start a business,...
by Durham Law Firm | Jun 1, 2022 | Estate Planning
When your spouse dies, you may have many questions. If your spouse was the primary wage earner, you might feel worried about how you will get by in the future. One question on your mind may be, "What are you entitled to when your spouse dies?" In North Carolina, the...
