Quotes About Business

The shareholders, the investors in the corporation, were liable only to the extent of their contribution to the business.

Also note that only 50 percent of your meal costs can be deducted while traveling.

States require that a resident agent be designated.

Brendan makes $200,000 a year in his pool cleaning business. As a single-member LLC, he would pay over $18,000 in payroll taxes on the entire $200,000 profit. If Brendan used an S corporation and paid himself a $72,000 a year salary and flowed the rest through as profits without payroll taxes, his payroll taxes would be $11,000 per year. As such, Brendan could save $7,000 a year, year in and year out, by using an S corporation over an LLC. Who says choice of entity isn't important?

The owners' liability is limited to the monies they used to start the corporation, not all of their other personal assets.

In an LLC, the members get the benefits of business debt

To avoid the double tax of a C corporation, most C corporation owners make sure there are no profits at the end of the year. Instead, they use all the write-offs allowed to reduce their net income.

When holding an asset, as a general rule you will be better protected using an LLC instead of a corporation.

Whenever possible, use business credit cards or loans rather than personal credit, even if you have to give a personal guarantee.

By contrast, in a member-managed LLC, the members are the shareholders, directors, and officers all at once.

you use business credit cards for business debt, in most cases that will not be reported on your personal credit and you will avoid hurting your personal credit.

That argument worked until the state of California decided that each series would be taxed as a separate LLC. So instead of paying just $800 for one series LLC in California you would pay, in our four-asset example, $3,200 for the series—the same as if you'd used four separate LLCs with greater certainty of protection.

one of the most significant benefits of the LLC, and a key reason for its existence, is the fact that the IRS recognizes it as a pass-through tax entity. All of the profits and losses of the business flow through the LLC without tax. They flow through to the business owner's tax return and are dealt with at the individual level.

LLCs are favored for asset-holding entities.

In a C corporation, the profits are taxed at the corporate level and then taxed again when a dividend is paid to the shareholder.

On the other hand, transferring the house out of an LLC is not a taxable event.

How many consultants does it take to change a lightbulb? I'll have an estimate for you a week from Monday.

I don't think this one's business as usual. Me evil cunt sense is tinglin'.

I hear you're a conspiracy nut. Well, this is the conspiracy, kid. It ain't ancient gods an' aliens an' coded shit on the dollar bill. It ain't even a secret, it's somthin' ordinary folks do for a livin' every day of the week. It's business.

You know we do not make such judgments, said Shushu. Business is business. We do not question whether our customers are 'good' or 'evil.' Once we did, said the older witch. When the Bill of Rights-

Good comes to those who lend money generously and conduct their business fairly. —Psalm 112:5

all too often, a successful new business model becomes the business model for companies not creative enough to invent their own. [2002] p.46

New business concepts are always, always the product of lucky foresight.** That's right - the essential insight doesn't come out of any dirigiste planning process; it comes form some cocktail of happenstance, desire, curiosity, ambition and need. But at the end of the day, there has to be a degree of foresight -- a sense of where new riches lie. So radical innovation is always one part fortuity and one part clearheaded vision. [first-line bold by author] [2002] p.23

If customer ignorance is a profit centre for you, you're in trouble.