LLC Creation Tips?

[-deleted-]

What's good 6Figures 6Certs.....Hoping I can get some great info here......

I am about to create a LLC for a record label imprint. What are important things I should know about creating an LLC? I plan on doing it through LegalZoom.....I hear that it is good to pick an outside state to base the LLC in because certain states have more benefits......

How are people getting money through LLC creation? I do know of business bank accounts and business credit lines......What else should I know?

 

[Ethnic Vagina Finder]

What's good 6Figures 6Certs.....Hoping I can get some great info here......

I am about to create a LLC for a record label imprint. What are important things I should know about creating an LLC? I plan on doing it through LegalZoom.....I hear that it is good to pick an outside state to base the LLC in because certain states have more benefits......

How are people getting money through LLC creation? I do know of business bank accounts and business credit lines......What else should I know?

Delaware would be the state to pick. No state taxes and they have services set up to cater to out of state businesses.

An LLC basically separates your money and how it’s taxed. For example is you just formed your business as a sole proprietor, you wouldn’t need an EIN and you would report your earnings on a regular 1040 Schedule C. In other words, the money you make is treated as personal income.

LLC setups are different. You can easily read up on them but one important aspect is if an LLC gets sued, you are protected if you set it up properly .

 

[NeilCartwright]

I’d say it’s pretty straightforward. I think being taxed as an S Corp is a pretty good route

You can create it out of the state you live in but you’ll need an address out there, and during tax time it’s a little more work for your accountant. I ended up opening it in the state I live in

That’s pretty much it as far as opening the LLC. And the EIN is free on IRS.gov, just save it in your phone’s notes and don’t forget it. Then you good
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[TRUEST]

When you talk to LegalZoom, get them to tell you in plain English or written document how much in total you will be paying to get everything setup. From start to finish. Tell them you want it in a format you can read.

Things can get outta control if u don’t know what you’re signing up for.

 

[NeilCartwright]

When you talk to LegalZoom, get them to tell you in plain English or written document how much in total you will be paying to get everything setup. From start to finish. Tell them you want it in a format you can read.

Things can get outta control if u don’t know what you’re signing up for.

I forgot to mention that, on that note^^legalzoom has a whole bunch of addons. Like a binder, and a whole bunch of other BS

All you really need is them to file the paperwork with the state, an EIN, and for the state to have your email you check regularly so you can pay the yearly filing fee