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Paul Sparks
Aug 74 min read
What Happens When LLC Members Disagree?
Every business should have a proper legal structure and bylaws or an operating agreement that sets forth the rights and responsibilities...
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Paul Sparks
Jul 31, 20234 min read
How to Remove a Member of an LLC
As a business grows, its ownership structure may change and an owner may need to be removed. Removing an owner of a limited liability...
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Paul Sparks
Jun 2, 20233 min read
Considerations for Forming a Limited Liability Company for Real Estate
For individuals who own real estate, it is important to consider the best way to structure your ownership. When you are just starting out...
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Paul Sparks
May 31, 20233 min read
Why Your LLC Needs an Operating Agreement
Congratulations! You have decided to form a limited liability company (LLC) to run your business. After completing your state formation...
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Paul Sparks
Apr 26, 20232 min read
Understanding How LLC Members Pay Taxes
Limited liability companies (LLCs) are one of the most popular types of business entities. The LLC’s flexible taxation options are one...
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Paul Sparks
Apr 24, 20233 min read
What Is a Business Succession Plan?
If you own a small business, developing your succession plan is a critical element of business planning. Many business owners fail to...
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Paul Sparks
Apr 24, 20233 min read
What Is an S Corporation and Should I Form One?
Contrary to popular belief, the S corporation is not a distinct entity type. According to the Internal Revenue Service (IRS), an S...
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Paul Sparks
Apr 10, 20232 min read
Business Insurance: Protecting Your Business from Unexpected Losses
Business owners have invested large amounts of time and money to make their business a success. Business insurance protects this...
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Paul Sparks
Apr 3, 20232 min read
Record Keeping for Your Business: What's Required?
Whether you are just starting up a new company or have a business that has been in operation for a while, good record keeping is an...
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Paul Sparks
Mar 30, 20234 min read
Making an S Corporation Election as a Married Business Owner
If you’re a married business owner and you want your business to be taxed as an S corporation, there are several things you need to know....
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Paul Sparks
Mar 28, 20233 min read
Should I Use an LLC (Taxed as a Partnership) or an S Corporation?
Entrepreneurship has been called the new American dream. Hanging a shingle starts with an idea that develops into a business plan, but...
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Paul Sparks
Mar 27, 20233 min read
Utah Series LLCs: What You Need to Know
A series LLC is a relatively new form of LLC. A series LLC is composed of a master LLC that houses a series of LLCs. However, the master...
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Paul Sparks
Aug 22, 20222 min read
Should You Own a Business with Your Spouse
The potential for blurred lines and conflicts in a couple-owned business makes it crucial that the business relationship be treated...
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Paul Sparks
Jul 29, 20222 min read
Does a single-member LLC need an operating agreement?
An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC....
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Paul Sparks
Jul 28, 20225 min read
How to prepare for selling your business?
Part of the reward of being a small business owner is seeing your hard work pay off. The many sacrifices made for your business can all...
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