Can Doctors Have Holding Companies?

Benefits of Holding Company for Doctors A holding company’s main objective is to offer its owners asset protection and liability shielding. It can reduce exposure to legal or financial concerns by owning and controlling interests in other enterprises. Tax Considerations for Medical Professional Corporations When you incorporate, any income remaining in the corporation would be … Read more

How Do I Switch From Wix to Webflow?

Migration from Wix to Webflow Enter the code sent from Wix Follow the tutorial on transferring your domain to Webflow Configure your custom Wix domain to work in Webflow Update DNS or transfer domain ownership Content Transfer and Customization Export Wix content like CSV files Save the content for import into Webflow Customize your Webflow … Read more

Is Income From an LLC Considered Earned Income?

Understanding LLCs and Taxation An LLC, or limited liability company, is a legal business structure that protects the owner’s personal assets from the company’s debts. Owners of an LLC are called members. LLCs can be single-member or multiple-member owned. You can think of an LLC as a hybrid between a partnership and a corporation. LLCs … Read more

Can You Sue a Company Director Personally? Liability of Company Directors

A company director may face personal liability if fraud or criminal acts occur. Directors have a legal duty to keep accurate records. Failing to keep sufficient records risks liability. Directors also risk liability if the company trades while insolvent, misuses funds illegally, avoids legal obligations, or lets subsidiaries cause unpayable damages. Understanding liability risks and … Read more

How Do You Part a Business Partner?

Forming a Business Partnership Investigate your potential partner thoroughly, including calling references and reviewing online comments. Formally outline all aspects of your business relationship and partnership structure in a written contract. Understanding Business Partnerships A business partnership legally relates two or more individuals or companies through a written agreement. Partners invest money in the business … Read more