Removing an LLC member

Document the decision to remove a member as follows. You do not have “buy-out” the member unless specified in the operating agreement. WHEREAS, John Masters has resigned as Manager and Secretary of the Company; and WHEREAS, John Masters desires to withdraw as a Member of the Company; and WHEREAS, John Masters has delivered a letter […]

Minutes and Resolutions

There are some formalities Documenting business decisions have some formalities and you can learn more about them by selecting the appropriate module from the drop down menu above. Compliance generally involves paying the annual state fees; business licenses (if required by the state); using a bank account opened in the name of the LLC with […]

Meetings for LLCs

Aside from the annual meeting, there is no required minimum (or maximum) number of meetings that you can hold. Some people hold formal meetings once per month and have the company pay for any expenses – meals etc. Your accountant can show you how to expense / deduct these costs from taxable income. The most […]

Understanding Schedule A

Enter your name and Social Security Number as well as the amount of your capital contribution. If you do not have a separate business address, use your home address. If you are the sole member of the LLC, you have 100% interest. If there are more than one owner, each owner has their name and […]

Blank Templates

You can modify the the documents in your minute book, or use the attachments found on the “Completing your Minute Book” page or purchase the Meetings and Minutes Workbook and Templates found at https://www.ebiz-learningmembers.com/workbook-discounts. Don’t forget the 50% off code shown on that page.