I have an LLC and 5 Copyrights...Ask Me Anything

[Kamikaze Revy]

Uh...you should get an LLC.......or some shyt because all it would take is an artist blowing up and you gonna feel a type of way and they gonna feel a type of way...


Right now...you are basically in a partnership with a bunch of artists...there is nothing protecting you or the artist right now...and the courts is gonna divide up the assets as they see fit base on a bunch of he say she say

I would incorporate and make contracts...and all that shyt...

Right now any "free" recording I do for an artist with the agreement that I'll get a cut of the profits I make sure to have a contract in place. As far as just hourly studio time I do have any contracts, even though I've been told before that I should because technically I should be getting credit for everything as audio engineer.

 

[AlainLocke]

Right now any "free" recording I do for an artist with the agreement that I'll get a cut of the profits I make sure to have a contract in place. As far as just hourly studio time I do have any contracts, even though I've been told before that I should because technically I should be getting credit for everything as audio engineer.

Hourly studio time you should be good...

Are you interesting in taking some of the artist's publishing...if you not charging for recording, I would take some publishing...an audio engineer is like a director...


Also...if you produce, you can get a song writing credit also....


I mean if I was you, I would want half of everything if I ain't getting paid. Just give me half.

 

[Azul]

So I travel a lot of have a blog (even though I have not posted in awhile). Would an LLC benefit me?

 

[Taadow]

Okay...I have made upwards of 500 beats.

What do I do to copywrite them?

 

[MenacingMonk]

I am starting making apps...I copyrighted scripts, webseries episodes and a TV pilot...

What do you mean by execution of an idea? Like the pilot of a show? or like a show bible?

 

[Voice of Reason]

It depends on how big you are and how intricate your business is.

I got an LLC because I don't wanna be liable for shyt and I have a partner. I got an LLC for web designing mainly. Then I just decided to let it encompass everything I do. If you are a one man show and you just hustling...you don't need an LLC. A sole proprietorship is cool.

If you handling big projects and you getting big money...like thousands of dollars...it's good to shield yourself. If you are looking to hire employees and contractors...yeah...

I got an LLC cause I am in a 50/50 partnership. We have a partnership agreement and we have a legit company name. I like covering my bases.

I am the type of person that just go do the shyt and suffer the fall out later...

I wouldn't go to a CPA to do an LLC to me it's a waste of money...cause CPA's gonna wanna get billed to set it up...and you can do it yourself

Filing a C-Corp...yeah...CPA

An S-Corp...yeah...CPA

Limited Partnerships...yeah CPA

An LLC bruh...just go do the shyt...it's super common and easy to sit up...a lot of people like to sit and chill and read a bunch of books and debate themselves...by then you just wasted time...

Just go visit your state secretary...register, look at the forms...go...read a business book...here's a bunch free ones...written by a Business Ph.d

The Business Professor

I read all that shyt...and then I read again and then I waited a week...read it again...

And I am a business major...and I took intro business law so it wasn't foreign to me...

Around how much monthly revenue does your web app business bring in?

 

[13473]

How much did the LLC cost and how many individuals have to be involved.

I don't remember (I have an S-corp) but when I did initial research the LLC was cost prohibitive and too time resource intensive to maintain in terms of documentation and substantiation on why I needed the LLC structure itself.

Naturally due to it's protections they don't want just any and everyone applying for one. It needs to have a legitimate functional purpose

LLC requirements & cost vary by state. however, u can register in any state. if u don't live in the state, you'll have to pay a registered agent to use their address. there seems to be really good deals if u google of someone just $25-49 a year. they really don't do anything but collect a few letters each year on your behalf.

i may be mistaken, but LLC in Arizona & New Mexico have a one time $50 registration fee and u don't have to file anything each year like in other states. other states u have to report annual income and pay taxes on it.

there is one state i think that allows u not to have a registered agent and u can just have a PO box

 

[One King Menes]

How do you establish business credit?

 

[KillerB88]

How do you establish business credit?

You need to register for a Dun & Bradstreet number. You can apply for business credit at places likes staples and office depot. You use your SSN to guarantee the lines of credit they give you. This gets reported to D&B and eventually you'll be able to apply for business credit cards. The easiest path may be to get a line of credit from a bank you already have a relationship with.

 

[One King Menes]

You need to register for a Dun & Bradstreet number. You can apply for business credit at places likes staples and office depot. You use your SSN to guarantee the lines of credit they give you. This gets reported to D&B and eventually you'll be able to apply for business credit cards. The easiest path may be to get a line of credit from a bank you already have a relationship with.

Appreciate the insight!

 

[blackgentlemenvoice]

Updates.....I think a good thread

 

[blackgentlemenvoice]

This was an amazing thread

 

[BiggWebb79]

 

[Huellz Santana]

You really just want an LLC just to write shyt off as business expenses...

Got my LLC and it's tax time. Help me out.

Cuz the brehs on Reddit said that an LLC offers no additional tax protections.​

 

[Huellz Santana]

No. Anytime you want to limit liability from lawsuits or bankruptcy it's a good practice. It isn't foolproof or guaranteed, but it's a good practice. There is also what's called a single-member LLC if you're a one man operation. Another determining factor is taxes. LLCs vs single-member LLC vs S-Corps tax income differently. what are you trying to accomplish brother? Maybe I can provide some insight. However, don't rely on my advice or that of anyone else in this forum. You have Google. Take a day and READ.

I read that an LLC doesn't really protect you from lawsuits. some shyt called "piercing the veil"​