Fall-2006

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ASK AN EXPERT (cont. from page 20) but is and has become the entity of choice for most small businesses. A limited liability company is an entity whose laws and regulations permit necessary flexibility to meet present day business issues. Through contract provisions incorporated into the Operating Agreement, it is possible to define selectively who will operate and manage the company, perhaps separate from investors and employees; how the company will comply with accounting rules and regulations; how investor contribution funds are treated and return on investments rendered; who is paid, how much, and in what manner; how losses and other tax deductions and attributes are recognized; how privacy concerns and trade secrets are recognized and protected. A limited liability company has the flexibility to favor one investor over another, if having substantial economic substance. The Operating Agreement can also determine the legal status of the owner as a member or as an employee. This classification can effect whether a person is entitled to health and life insurance benefits or even if social security and other employment taxes are paid. Of course, the major positive effect is that personal assets are protected without the inflexibility of State or tax regulations of Sub “S” Corporation or the double taxation of a “C” Corporation. The choosing of entities is a function of the analysis of State and Federal regulatory and taxation law, which imposes limitations and exceptions to general rules. Choosing a proper entity is as important to a business’s success as making sound management and marketing decisions. Success doesn’t hang in the balance but the wrong decision can be costly, and, as in all matters, it pays to do it right. Select Features for Select Members SHARE SAVINGS ACCOUNTS FREE DRAFT ACCOUNTS SHARE CERTIFICATES ON-LINE BANKING ATM/DRIVE UP • ATM/DEBIT CARDS & VISA CARDS • SHARED BRANCH NETWORK CAN MEET ALL YOUR LENDING NEEDS About the author: Gordon A. Etzler is licensed to practice law in the state of Indiana in both State and Federal Courts and maintains his office at 251 Indiana Avenue, Valparaiso, Indiana. If you live, work, worship, or go to school in Porter County, you are eligible to join! We’re looking forward to greeting new customers and better serving our current members at our new location. Your health… your life… Duneland Health and Wellness Institute is a medical campus featuring: • Aesthetics • Behavioral medicine • Medically based Fitness Center featuring aquatics, personal trainers and group instruction • Neuromuscular therapy • Physical and occupational therapy • Physician offices • Women’s Comprehensive Health Center • X-ray/lab services Together We Will Share! 302 Silhavy Road • Valparaiso, IN 219-465-5047 • www.selectcommunityfcu.org 810 Michael Drive, Chesterton, IN 46304 (219) 983-9832 24
Welcoming a new baby into the world is one of life’s most joyous occasions. The Birth Day Place at Saint Anthony Memorial brings together the comfort and privacy of a hotel suite with the expert care of an acute-care hospital. Each mom has her own private suite and bathroom – a peaceful, warm and quiet place in which to welcome her newborn and visit with family and friends. The Birth Day Place features the most advanced medical technology available, with care provided by board-certified physicians and specially trained obstetric nurses. And our advanced OBIX technology allows remote surveillance of both mother and baby. For more information about The Birth Day Place at Saint Anthony Memorial, please call 219-877-1610. 301 West Homer Street • Michigan City, IN 46360
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Page 4 and 5: When executives at Pratt Industries
Page 6 and 7: Valpo Taking Off (cont. from page 4
Page 8 and 9: Air Charter Services and Flight Sch
Page 10 and 11: VALPO TAKING OFF (cont. from page 7
Page 12 and 13: Business-to-Business Networking Eve
Page 14 and 15: Members All addresses are in the 46
Page 16 and 17: Visit www.connecttovalpo.com for a
Page 18 and 19: Establishing a legal structure for
Page 20: ASK AN EXPERT (cont. from page 18)
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Fall-2006

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