Has anyone's kwoon officially incorporated or organized as a Limited Liability Company etc.? If so, what have you found to be the biggest advantages? Disadvantages?
Daper Dan Man
Has anyone's kwoon officially incorporated or organized as a Limited Liability Company etc.? If so, what have you found to be the biggest advantages? Disadvantages?
Originally Posted by Oso
Registered User
Hey JP, Bryan's school is incorporated as an LLC if you wanted to drop him an email or just post the same question on his forum.
Keep it simple, stupid.
Daper Dan Man
Thanks Rad.
Haoli
haven't done it yet simply because it would cost me about 5% of my annual revenue to do so. it's on the agenda though.
the basic reason is of course to separate personal and business finances.
as I understand it there is some separation of liability as well but since I could still be sued as an individual, that isn't my primary concern.
"George never did wake up. And, even all that talking didn't make death any easier...at least not for us. Maybe, in the end, all you can really hope for is that your last thought is a nice one...even if it's just about the taste of a nice cold beer."
"If you find the right balance between desperation and fear you can make people believe anything"
"Is enlightenment even possible? Or, did I drive by it like a missed exit?"
It's simpler than you think.
I could be completely wrong"
Red Boat Fighter
Boston SanDa Kung-Fu gym is set up as an LLC.
Makes it easier for multiple partners/owners to compartmentalize business from personal and as Oso noted, keeps a financial and liability buffer. Should be better off tax-wise this way for partners.
Banned
Wouldn't that be an LLP?
Red Boat Fighter
In our case it's an LLC.
A small corporation is a bit more complex stucture but offers more flexibilty (I believe).
We reviewed the different business structures and decided an LLC format would be most advantagous for us. Tax lawyer I spoke with concurred. Seems to be working well so far; I may have more imput/insight on this issue next year after tax season.
Banned
What do you mean incorporated kwoon. Is that Mixed martial arts????? kung fu should have none of that
Mouthboxer Deprogammer
V,
What in the name of anything do you know about MA?
Clown.
Liar.
W H O R E M O N G E R.
Step up or shut up, fool.
Dale Dugas
Mouth Boxers have not the testicular nor the spinal fortitude to be known.
Hence they hide rather than be known as adults.
Banned
I'm asking a valid question here. I'm sure ppl like to wnow what LLC style. I don't know, its not traditional, sifu doesn't know. My wife from china doesn't know.
Mouthboxer Deprogammer
The valid question will never be answered as most if not all people here have you on the ignore list and your posts do not even show up.
Your wife? You mean the Chinese slave that you purchased as you mentioned in previous posts?
F you, you W H O R E M O N G E R I N G clown.
Dale
Mouth Boxers have not the testicular nor the spinal fortitude to be known.
Hence they hide rather than be known as adults.
Banned
The question here is - what is LLC kungfu. Not about chinese slaves or my wife hey how did MY personal life get embroilded in this anyway?
Registered User
I believe the latin word is nitwiticus.
Mouthboxer Deprogammer
Buddy,
you forget to include the last part of that.
nitwiticus fahkinridiculous
Dale
Mouth Boxers have not the testicular nor the spinal fortitude to be known.
Hence they hide rather than be known as adults.
Registered User
Dale,
Thanks I haven't kept up so well on my dead languages. In Ancient Greek it might be ****fobrainopolis
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