Showing posts from March, 2016

Pros & Cons Of An LLC

When you're setting up a business at the Lake of the Ozarks , choosing the right business entity is absolutely critical. Your business entity will impact the way your company's income is taxed, the way important decisions and processes must be handled, and how its eventual sale or dissolution must be conducted. A limited liability company (commonly abbreviated as "LLC") is a particularly popular business entity with a unique set of advantages. However, it also comes with its share of potential drawbacks. This week, O'Donnell Law Center explores some of these pros and cons. PROS An LLC can have an unlimited number of members. Owners of an LLC can enjoy greater flexibility than those with other business entities. Unless the operating agreement outlines specific procedures for a certain task, owners are able to structure their company in whatever way best meets their needs. Members/owners are protected with "limited liability," which helps to prot

What Do Starting A Business & Getting Married Have In Common?

It may seem like a surprising comparison at first, but if you think about it, starting a new business has a lot in common with starting a new marriage. Both are filled with excitement, wonder, and - of course - nervous anticipation. Both can be incredibly rewarding i f handled correctly and given the proper attention , but both can also be challenging at times. Here is a quick look at some of the other things new businesses and new marriages have in common. Both Need To Be Established Correctly As the owner of a brand new business, you have a lot of important decisions to make. First and foremost, you have to choose which form of business entity to use. Do you want to incorporate as a sole proprietorship, a limited liability company, or something else? Each options offers its own set of advantages and disadvantages, and you will have to carefully evaluate your business' unique needs in order to make an informed decision. In order for your business to thrive, you need to ch

3 Things You Didn't Know About Criminal Defense

Criminal defense is a vast and complex legal discipline. With literally hundreds of illegal acts and countless degrees of severity, maneuvering the world of criminal defense at the Lake of the Ozarks can feel overwhelming. Fortunately, O'Donnell Law Center is here to make the process easier on you. If you are facing criminal charges (or believe you may soon be charged), our criminal defense attorney in Osage Beach.  MO is always available for a consultation. This week, we are here to shed some light on lesser known aspects of criminal law in Missouri . 1. The Penalties For Stealing In Missouri Vary Depending On The Value Of The Item(s) Stolen. Stealing (including "shoplifting") is a criminal offense punishable by steep penalties. Even for first offenses, those accused of stealing may be subject to expensive fines and substantial jail or prison time. Here is a quick breakdown of how these crimes are punishable in Missouri in 2016.  These penalties are schedule