Limit your liability, simplify taxes with an LLC If you run your own business as a sole proprietorship or partnership, you've probably heard of the advantages of limited liability companies (LLCs)--especially the way an LLC can protect personal assets from business debts. LLC expert Anthony Mancuso clearly explains how to decide whether an LLC is right for you. Nolo's Quick LLC provides essential information for business owners in every state. In plain English, it explains the advantages and drawbacks of forming an LLC. Find out about: the unique legal features of LLCs, including limited personal liability for owners who should--and who shouldn't--form an LLC when to choose an LLC instead of a corporation, partnership, or other business form choosing between a member-management or manager-management LLC how to manage multiple-owner LLCs how LLCs are taxed when and how to elect corporate tax treatment the ongoing legal and tax paperwork required for LLCs, and why an LLC can be the right choice even for a debt-troubled business. Practical, concise and easy to read, this edition of Nolo's Quick LLC provides the latest facts, figures and updated tax information you'll need to know about this structure for your small business.