The Business Glossary will help you to understand the most common terms related to business, LLCs, and more.
We explain each and every term in detail and provide extensive guides and use-cases for each one.
IRS W-9 and 1099 Forms (Full Guide) – Free Form Downloads Most businesses hire freelancers or outsource work on a regular basis. The Ascent includes directions for completing the paperwork that contractors must submit to the IRS. Many small firms have projects that have remained unfinished for an extended length of time. Although none of …
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Form 8832 Filing Guide – LLC Taxed as C-Corporation (Beginner-friendly Guide) Start Your C-Corp Today Only From $0 + state fees! Unless you specify otherwise, a limited liability company (LLC) is given a “default” tax status when it is created. If an LLC has only one member, it is typically treated as a sole proprietorship; …
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NAICS Codes for LLCs (Full Explanation) – How To Get The Right One For Your LLC? Get The Correct NAIC Code Automatically With These LLC Services Small company entrepreneurs have a lot on their plates, with a variety of daily duties and long-term ambitions that need their full focus. However, there is one resource that …
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What Is a Certificate of Organization for LLC? (Free State Forms Included) An LLC is a Limited Liability Company. An LLC is a business owned by one or more members. People that choose to form this type of business typically do so to protect their personal assets. By forming an LLC, a person’s liability is …
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Member-managed LLC (Full Guide) – Explained, Pros & Cons Form a Member-managed LLC With Professional Help Today If you’re considering forming a limited liability company (LLC), you have probably heard about member management. This method of running your business places the responsibility of managing your business on its members and is the most common form …
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Certificate of Good Standing – What is It? Should You Get One? As a business owner, you may have heard the term, Certificate of Good Standing, but what is it, and what does it actually mean? A certificate of good standing does what the name suggests. It shows that your business is in good standing …
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Domestic LLCs vs. Foreign LLCs (Main Differences) Jump to Best Foreign or Domestic LLC Formation Services in U.S. For those that have just started the LLC formation journey, you may have heard the terms domestic and foreign LLCs floating about. When hearing the term ‘foreign’, you may think this is an LLC formed outside of …
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LLC Articles of Organization Guide & FREE Template Download Jump to Article of Organization Template Download What are Articles of Organization? To put it simply — Articles of Organization are a necessary legal document used to form an LLC in any of 50 states. Its purpose is to describe the rights, powers, duties, liabilities, and …
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LLC Operating Agreement (Free Template Download) – What Is It & Do You Need It? Get Professional Help in Forming an LLC & Writing an Operating Agreement Every LLC needs an operating agreement, whether it is required or not. Essentially, an operating agreement is a document that provides clarity about how a business works. Getting …
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What is a Registered Agent? And How Do I Choose One? What does a Registered Agent do? Essentially, a registered agent is an entity that will act as the main point of contact with the state for your LLC. Usually, you will have to designate a registered agent when you are setting up your LLC. …
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