Customer Reviews

Your Limited Liability Company: An Operating Manual

5 star:		(30)
4 star:		(24)
3 star:		(8)
2 star:		(1)
1 star:		(0)

 

 

Generally I have to say I was a little disappointed with this book. To be fair it lives up to its claims that it will basically help you run LLC meetings and provides forms for most basic LLC functions EXCEPT creating one. It provides no business advice and no tax advice to help with serious beginning operation issues. I was hoping for a book that would offer advice and successful strategies for managing money in the LLC and discuss tax strategies and so on. Advice, that would help me operate an LLC with the legal documents to back up the advice. That is not what this book contains.

This book will not teach you how to begin running your own LLC business. But if you are an LLC member with two other members in your LLC it will tell you to use form 7 to formally announce the meetings and form 8 to guarantee that the announcement has been received and 9 to proactively declare that the meeting contents will be....

This book will not help you make tough decisions but it will tell you what to do if you have already made a decision. If that's really all that you want you have found your book.

What strikes me as odd is that the two most important documents as stated at the start of the book, the operating agreement and articles of organization, are not included in this book. For that topic they have written a whole SEPARATE BOOK for you to buy and they kindly point you in that direction.

My general feeling is that this 50-dollar book is too pricey for what it offers. They should drop the tear-out pages, that no one will ever use since the forms are on the CD, and the one or two pages for each states specific LLC rules, which could easily also be on the CD since you most likely only need the paragraph that pertains to your state, that make up HALF the content of the book and lower the price to 20.

You file the LLC, pay the annual fee to the state and you're done right?

That's why I and I'm sure many other LLC owners thought until a lawyer friend was doing a review of my business one day and started asking me if I was keeping up with the necessary documentation--such as doing promissory notes for the loans I made to the business and resolutions for this and that. "Um, what?" pretty much sums up my response.

Nobody collects these forms from us but they're mighty good to have on hand if someone ever tries to contest your LLC protection, and they're often required by certain programs such as WBENC certification anyway.

She recommended this book which explains the various forms and when they should be used and even gives you a CD with them so you don't even have to type them in yourself. So it basically takes 5 minutes whenever you need to do one.

I'm not going to pretend that this book will keep you breathless on the edge of your seat all night--but it could certainly help prevent future sleepless nights if misfortune comes to call.

I have a LLC which has only one member (myself). It is not a complex operation, and I was able to figure out everything from online resources.

This guidebook is GREAT for someone who has a medium sized LLC beyond one member. Forms and templates for almost any business need are included. Unfortunately for me the vast majority of those forms and instructions are for things that I'll never need.

Also, there are specifics that vary by state for LLC; this book is doesn't pertain to any one state, so you will still need to do additional research on operating your LLC within your state.

In summary, if you just need the LLC to protect assets and you are the only member, you probably don't need this book. But if you have a medium to large LLC with employees, meetings, etc, this guidebook and template (with CD-ROM containing templates), this is a great "operating manual".

I got this book from my library when I was considering starting a single-member LLC, which is a recommended move for freelancers, independent consultants, and people considering a sole proprietorship. I am adding this review to notify potential buyers that this book does not cover the topic of single-member LLCs. I would like to learn how to conduct my business the "right" way, but most of the advice here doesn't apply to me.

I was looking for tax and accounting information, which I didn't find in this book. I left it with my LLC client, however, since he was painfully unaware of how to set up and run his company. I'd recommend this for folks starting a business, to help them discern the differences between types of corporations and how they work.

This 'Your Limited Liability Company: An Operating Manual' book is decent - it's not a book for starting an LLC, but more focus on forms and info, and how to properly run a 2 or more member LLC. It's all about documentation & running of LLC meetings, to hopefully help a multiple-member LLC with lining up all the appropriate forms and paperwork to operate properly, and stay out of legal 'hot water'...this book does not help single-member LLC's, so is not recommended for single or sole-member LLC companies, but is an ok book for multi-member LLCs (two or more members)...enjoy,

Before you buy this book, it is important to know what it is and what it is not. It is not a guide to understanding the different types of business structures available to entrepreneurs and which one you should choose. It is also not a manual on how to set up an LLC and what papers to file. It assumes you've already got an LLC running. If you're thinking of starting your own business and need to understand the tax advantages of one business entity versus another, this book is not for you. As stated on the cover, it is an "operating manual". It'll help you take care of day to day affairs and keep records of your organization's decisions and transactions. It is a guide on running your LLC, not starting one. It doesn't offer any advice or strategies for success.

If you're a single member LLC or a consultant/contractor, this book is also not for you. It is for multi-member LLCs and many of the forms deal with meetings. For what it is (a collection of fill-in-the-blank type forms), the price is decent, not fantastic.

I'm currently starting a photography business, and have already formed the LLC. Honestly, that alone seemed like a huge task, but it's really no big deal. Making sure you RUN your LLC business properly is the key. I was concerned about that because I've read in other places all about the forms you need to keep in the event of an audit... you need formal docs for everything including owner/members, annual meeting minutes, approvals for every decision including what color wallpaper you can have in the bathroom (OK, I'm kidding, but to enjoy the beneficial protection of an LLC you really need to be a studious keeper of data and info).PLUS, you have to execute and record properly every financial transaction, even if you put $20 of your own money into the business... of course you'll record it, but under what category at tax time? Ultimately you really need an Operating Coach, and I am very excited that I got this book to review because it DOES JUST THAT, serves as that coach I've needed! Yes, I did get this through Vine, but I was at the step of creating my LLC where I needed to KNOW all this stuff. Wow, this NOLO title has come through. The CD ROM icluded with the book includes SEVENTY forms that you could possibly need, but even better it explains which to use and when. Earlier I mentioned about proper categories when recording investments; if you're starting or already running an LLC, wait until you read that part, you'll now know what to do and what not to do. That section of the book is worth the price of admission right there. It's going to keep you out of trouble later!

Please note, this book is NOT about how to start or form an LLC as one reviewer pointed out from a much earlier version/review. That whole process is in a separate book on its own and rightfully so. This guide is your day-to-day coach for running the LLC, it's simply a must-have for us small buisiness owners.

First, recognize that this book isn't about *forming* a Limited Liability Company (LLC). The publisher has a different book on that subject, so if you haven't formed your LLC yet, be careful to buy the other book first. The book that I'm reviewing is strictly about *running* your already-formed LLC.

The book stresses practicality and utility. Prose is relatively spare and minimal; just enough is provided for you to understand the concepts and know what to do (and why you do it). The heart of the book is in the forms and document templates provided both in print and on the highly useful CD which is part of the package.

The book helps you to run your LLC in a manner that will help avoid legal problems and liability issues. It is not a substitute for a lawyer, accountant, etc., and is very careful to so state and advise you to engage professional services as needed. But it's clear that everything in the book is based on extensive practical experience, and following the book's dictates and using the processes, procedures, forms, and templates provided will go a very long way toward running your LLC in a competent, and may I say, "safe" manner.

Publisher Nolo goes to great lengths to keep its advice current; this is the 6th edition of the book and they are not just churning editions, they are keeping up with evolving law and best practices. They also offer free updates on their web site, which to me is evidence of a genuine desire to be helpful and not just generate continuing revenue as some other publishers do.

If you have a recently formed LLC, if you're not highly experienced, or if you just want additional guidance, this book is a must for you. It's over 250 pages of uncluttered advice, plus many more pages, and a CD, of forms and templates. It will, and should, become your daily go-to book. Highly recommended.

If you have an LLC already, and want to keep expanding business within the framework of LLC, this book tells you what the rules are and how to comply them. In this scenario, you'll save a lot of time by consulting this book, as it's well organized and provides just the right amount of information.

What it doesn't help is if you are about to form an LLC, or when your LLC is single member and don't really need much details. Also, even if your business is expanding, many LLCs will find limitation of being an LLC when getting investment from outside or for other factors, and they may want to become an S-corp, which is also outside the scope of this book. You can look at the table of contents and see if topics of your interest are given adequate number of pages in this book. If so, it's clear, concise and to the point. But don't buy this with wrong expectation.