Posted by Roger - Texas on March 04, 2008 at 20:45:08:
The amount has been raised to $10,000.00.
My name or LLC? - Posted by Garry, ENC
Posted by Garry, ENC on March 03, 2008 at 15:42:28:
Please - - What are pros and cons of having MH in MY name
as opposed to my LLC? - - - -Thanks
Re: My name or LLC? - Posted by Alan (Tx)
Posted by Alan (Tx) on March 03, 2008 at 18:47:58:
In Texas, you can legally represent yourself in any court.
In Texas, the only court you can represent another party (LLC, Corp, S Corp, etc) without a license to practice law is Small Claims Court. Small Claims Courts are limited to awarding monetary judgements up to $5k. They cannot award anything else.
If you ever go to court to evict or similar action and are required to hire an attorney at $200+ an hour with a minimum $2k retainer, your profit margin drops and possibly becomes negative very quickly. This is especially true with many small deals.
On the other hand, putting the documents in another party’s name will limit your liability.
There are trade-offs, research your local rules and regulations then make an intelligent, informed decision which is best for you.
bueno suerto.
Re: My name or LLC? - Posted by Steve-WA
Posted by Steve-WA on March 03, 2008 at 18:22:50:
a LLC is a shield against people seeing you personally as the owner, thus it is connected to your assets, through you.
a LLC is a good “higher power” for negotiating
using your personal name is no big deal, but if you start doing more and more, it could be a detriment; see above