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 Good Faith Group executive summary plan

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cmanlarry

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Posts : 105
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20110308
PostGood Faith Group executive summary plan

I am going to attempt to provide one section each week for everyone's review of the business plan. Please feel free to offer comments, corrections and updates. We should save each update at a v1,v2,v3 etc so that we can keep control of the changes until it reaches final form. Luis, once you have the final form, we can post in google docs until all of the sections are completed. We then should be able to merge the contents all together and post it to the web for our investors.
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Good Faith Group executive summary plan :: Comments

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Re: Good Faith Group executive summary plan
Post on Sat Mar 26, 2011 2:21 am by jamesbradley
WHAT IS AN LLC AND ITS BENEFITS:
The limited liability company (LLC) is a relatively new form of doing business in the United States (in 1988 all 50 states enacted LLC laws). The best way to describe an LLC is to explain what it is not. An LLC is not a corporation, a partnership nor is it a sole proprietorship. The LLC is a new hybrid that combines the characteristics of a corporate structure and a partnership structure. It is a separate legal entity like a corporation but it has entitlement to be treated as either a partnership, or as an S-Corp; for tax reporting purposes and therefore carries with it certain tax benefits for the investors.
The owners and investors are called members and can be virtually any entity including individuals (domestic or foreign), corporations, other LLCs, trusts, pension plans etc. Unlike corporate stocks and shares, members purchase Class B Preferred Membership Units. Members who hold the majority of the Class B Preferred Membership Units maintain controlling management of the LLC as specified in the LLC operating agreement.
The primary advantage of an LLC is limiting the liability of its members. Unless personally guaranteed, members are not personally liable for the debts and obligations of the LLC. Additionally, “pass-through” or “flow-through” taxation is available, meaning that (generally speaking) the earnings of an LLC are not subject to double taxation unlike that of a “standard” corporation. However, they are treated like the earnings from partnerships, sole proprietorships and S corporations with an added benefit for all of its members. There is greater flexibility in structuring the LLC than is ordinarily the case with a corporation, including the ability to divide ownership and voting rights in unconventional ways while still enjoying the benefits of “pass-through” taxation. The limited liability company is becoming the entity of choice for business in every realm. Due to its flexibility and tax advantages for all of its members, it will continue to gain momentum as more and more people learn of its existence
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Re: Good Faith Group executive summary plan
Post on Fri Mar 25, 2011 4:09 am by cmanlarry
James,
I have been out of town because of a health issue with my wife. She is OK now and we will be returning this Sunday. I would like to speak to you on Monday if that would work with your schedule. I will be on the website on Monday at 2:00 Colorado Mountain Time. We could have a Skype call at that time. My call letters are cmanlarry. Just send me a request and I will accept and we should be set up for Monday. I apologize for not getting back to you sooner.
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Re: Good Faith Group executive summary plan
Post on Fri Mar 25, 2011 3:00 am by jamesbradley
Larry, when can we talk about the LLC? and other questions such as going public, etc. Several weeks ago you stated you wanted to talk.
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Re: Good Faith Group executive summary plan
Post on Thu Mar 10, 2011 7:56 am by cmanlarry
Thanks Luis, I will continue to provide additional sections to the business plan.
Versions is the way to go
Post on Thu Mar 10, 2011 7:47 am by luie1177
Here is the edits I have changed most of it stayed the same other then the name of the management division of Good Faith Group (Good Faith Property Management) I'm going to create the LLC soon first I'm going to get some advice from Mr Bradley.
 

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