Top positive review
34 people found this helpful
Enough information to get my LLC created
on May 9, 2012
Using the information in this book I was able to successfully create an LLC. I first purchased "Limited Liability Companies for Dummies". Good background material but it did not contain a sample operating agreement. These long and complicated agreements are the heart of LLC creation. So, I turned to Mr. Mancuso's book. He has full samples of both a member managed and manager managed LLCs. I took his form, modified for my needs and finished the job.
On the downside there are a number of areas where the text says "refer to your attorney". Part of this is the nature of the beast. While a simple LLC creation is pretty straight forward there are areas where one can get into trouble. Special allocations of profits where profits are not distributed based on ownership triggers all sorts of IRS rules. Professional help is needed here. I did not need anything like that so not a problem.
Another reviewer mentions the lack of information on Series LLCs. These are really specialized for something like a taxi company where the company is an LLC and each individual taxi is owned by a separate LLC. So if you are a big business doing fancy asset protection with series LLCs, then this book is not for you. If you want to start a small business and want the protection of an LLC, this book contains the information to get it done.