How is an S-Corp different than other LLCs? In this brief talk with attorney Gene Friedman, find out why operating agreements, proper loan documentation, and shareholder salaries are so important, and how managing these well will ensure benefits to an S-Corp’s shareholders such as tax incentives and liability protections.
Listen to the conversation on the audio player below, or download Gene’s talk to listen off-line (right-click on the link and select “save as” to save to your device):
Gene’s previous legal talk covered the topic of Real Estate Leases and discussed issues that may make a lease unenforceable. That talk can be found here.
INTERVIEW NOTES
* 0:13 Classifying an LLC as an S-Corp
* 1:38 What an S-Corp needs to know – Operating Agreements
* 4:53 Documenting Shareholder Loans
* 8:06 Reasonable Shareholder Salaries
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Gene Friedman is a partner at Gertsburg Licata in the transactional practice group. He may be reached at (216) 573-6000 or at [email protected].
Gertsburg Licata is a full-service, strategic growth advisory firm focusing on business transactions and litigation, M&A and executive talent solutions for start-up and middle-market enterprises. It is also the home of CoverMySix®, a unique, anti-litigation audit developed specifically for growing and middle-market companies.
The contents of this interview are for informational purposes only. Nothing in this article is intended to create an attorney-client relationship or provide legal advice. You should not rely on anything in this article without first consulting with an attorney licensed to practice in your jurisdiction. If you have specific questions about your matter, please contact an attorney licensed to practice in your jurisdiction.
