Nolo's Quick LLC: All You Need to Know about Limited Liability Companies Paperback – Feb 22 2011
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Top Customer Reviews
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I've read the Nolo California Corporations book and it already covered much of the info here. What I was looking for was help with writing good articles of organization and operating agreement (specifically for a 1-person LLC).
The operating agreement example he gives is not specific to a one-person firm. A prudent person might change the language in his example operating agreement to reflect that the LLC is composed of just one person. Also, the book does not cover the fact that in CA you can specify additional info in the Articles, such as rules for admitting new members.
Awfully light for "All you need to know".
If you are thinking of starting your own business an a LLC, but are not sure of which business model to use (Sole Propertiorship, LLC, Parternship, S-Corp, C-Corp), this book will help inform you of the pros and cons of LLCs, and how they fit into the overall legal and tax structure.
The only reason I rated this book at 4 stars instead of 5 stars, is that it scared me a bit in regards to the legal and tax requirements, without providing enough detail to give me a grasp on why the requirements were in effect. Having also been in contact with a certified tax expert and accountant while I was reading this book, I learned that this book errs on the side of being very conservative, or even a bit scary, in regards to legal and tax requirements. So I would advise anyone who gets this book to also balance it out by reading a more aggressive book about saving money on taxes and operating an LLC legally.
After reading this book, I also read "Your Limited Liability Company, An Operating Manual" by the same author. That book provides in depth detail on the day-to-day running of an LLC. It helped me tremendously. However, this book is also conservative when it comes to saving money on taxes.
Overall, both books are great reads.