Kwoon L.L.C.

[Judge Pen]

Has anyone's kwoon officially incorporated or organized as a Limited Liability Company etc.? If so, what have you found to be the biggest advantages? Disadvantages?

[Radhnoti]

Hey JP, Bryan's school is incorporated as an LLC if you wanted to drop him an email or just post the same question on his forum.

[Judge Pen]

Thanks Rad.

[Oso]

haven't done it yet simply because it would cost me about 5% of my annual revenue to do so. it's on the agenda though.


the basic reason is of course to separate personal and business finances.
as I understand it there is some separation of liability as well but since I could still be sued as an individual, that isn't my primary concern.

[Mutant]

Boston SanDa Kung-Fu gym is set up as an LLC.

Makes it easier for multiple partners/owners to compartmentalize business from personal and as Oso noted, keeps a financial and liability buffer. Should be better off tax-wise this way for partners.

[SifuAbel]

Boston SanDa Kung-Fu gym is set up as an LLC.

Makes it easier for multiple partners/owners to compartmentalize business from personal and as Oso noted, keeps a financial and liability buffer. Should be better off tax-wise this way for partners.

Wouldn't that be an LLP?

[Mutant]

Wouldn't that be an LLP?
In our case it's an LLC.
A small corporation is a bit more complex stucture but offers more flexibilty (I believe).
We reviewed the different business structures and decided an LLC format would be most advantagous for us. Tax lawyer I spoke with concurred. Seems to be working well so far; I may have more imput/insight on this issue next year after tax season.

[Vasquez]

What do you mean incorporated kwoon. Is that Mixed martial arts????? kung fu should have none of that

[Dale Dugas]

V,

What in the name of anything do you know about MA?

Clown.

Liar.

W H O R E M O N G E R.

Step up or shut up, fool.

Dale Dugas

[Vasquez]

I'm asking a valid question here. I'm sure ppl like to wnow what LLC style. I don't know, its not traditional, sifu doesn't know. My wife from china doesn't know.

[Dale Dugas]

The valid question will never be answered as most if not all people here have you on the ignore list and your posts do not even show up.

Your wife? You mean the Chinese slave that you purchased as you mentioned in previous posts?

F you, you W H O R E M O N G E R I N G clown.

Dale

[Vasquez]

The question here is - what is LLC kungfu. Not about chinese slaves or my wife hey how did MY personal life get embroilded in this anyway?

[Buddy]

I believe the latin word is nitwiticus.

[Dale Dugas]

Buddy,

you forget to include the last part of that.

nitwiticus fahkinridiculous

Dale

[Buddy]

Dale,
Thanks I haven't kept up so well on my dead languages. In Ancient Greek it might be ****fobrainopolis

[YuanZhideDiZhen]

i haven't decided wheather vasquez is an american moron or a foreign national dealing with several language and cultural barriers and is mixing them up as he translates from one to the other.

[Buddy]

Hmmm that might be Ameronicus

[Dale Dugas]

V is a clown. plain and simple. He is not who he claims he is. Posts as though he is here in the states and has access to traveling here to met people to train(see the sifu Jim Cook thread). Yet he claims to live in Australia and be some sort of latino/spanish person yet speaks not spanish or claims to speak it nor posts anything other than a spanish sounding name.

Total Mouth fu is the only thing he knows.

As posted before. If he is a real person(which I and many others here highly doubt) he is an Fahking Subhuman for posting the total crap which he has posted.

If he is the troll alter ego of someone here that person is still a total fahking ass for posting the trash he did. Either way the clown coward worm boy loses.

Going to play your flute again Nambla man? Why dont you go back to the prisoner you purchased and send her back to her village. Your married like im the president of the USA.

What a loser.

Dale Dugas

[Judge Pen]

Dale, I don't care what problem you have with Vasquez, get the f*ck off my thread with this personal bullsh!t! Be respectful and stop hijacking threads.

Unless you want to actually contribute to the topic, don't post.

[Vasquez]

I dunno why Dale is so unkind to me. English is not my best language and I didn't do much schooling in Peru. It's a hard life there. i'm lucky to have a life here.

[Dale Dugas]

JP,

Shut the F up. V is a clown and deserves nothing but my boot upside his rearend from the crap he spouts.

You dont like it??

Go back to your hairy faced Si gung and train more and post less.

[YuanZhideDiZhen]

I'm asking a valid question here. I'm sure ppl like to wnow what LLC style. I don't know, its not traditional, sifu doesn't know. My wife from china doesn't know.

Vasquez: LLC is a type of business enterprise which exist in the US to protect it's owner or owners from the liability of another person's legal claim's against the owners. it is a way of defending your financial interests in your profession from hijackers, or people looking for a get-rich-quick scheme by suing you for your business.

[Mutant]

Yes it takes more than fists and broadswords to defend your kwoon these days... forming an LLC is a method of legal protection to keep the school running.

[Liz C]

It's a hard life there. i'm lucky to have a life here.

¿Quieres alguno queso con ese vino?

[Vasquez]

But forming a company loses the personal feel between student and master. why can't it be like the old days?

[Dale Dugas]

The old days would see someone like you being taken out in a gong sau challenge my foolish little troll.

No fakes and frauds back then as the real people would come find you and you would be pushing up the daisies or feeding the fish somewhere.

Dale Dugas

[Judge Pen]

JP,

Shut the F up. V is a clown and deserves nothing but my boot upside his rearend from the crap he spouts.

You dont like it??

Go back to your hairy faced Si gung and train more and post less.

Buddy at least I post about valid questions instead of spouting off about other posters. I started this thread and I don't apprectiacte clowns You and V) taking it over.

If all you are going to do is attack other people then you are a true hypocrite. If I'm wrong, then I apologize, but all I have to go on is the crap your posting on my thread.

[Dale Dugas]

JP,

V is a plague and I have been trying to get the troll to come out and prove he is real. No dice as of yet. I even tried PMing him, but the crybaby posted to the forum yet again to ask for help from his mommie.

Sorry about the thread brother.

Post on. Ill stop ruining on my end.

Dale Dugas

[Judge Pen]

JP,

V is a plague and I have been trying to get the troll to come out and prove he is real. No dice as of yet. I even tried PMing him, but the crybaby posted to the forum yet again to ask for help from his mommie.

Sorry about the thread brother.

Post on. Ill stop ruining on my end.

Dale Dugas

I understand your frustration, but trolls will always be a part of a forum. Ignore them. Live and let live.

[YuanZhideDiZhen]

But forming a company loses the personal feel between student and master. why can't it be like the old days?

an LLC is just a formality. it only affects the way the business is organised on paper. it does not affect how a person runs the interactions of his business.

[Vasquez]

Yuan,

My thoughts exactly. If its just a formality then why does it matter. there are already heaps of traditional teachings and manners in kung fu already. isn't that enough?