Do This BEFORE You Set Up Your LLC

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  • เผยแพร่เมื่อ 9 ม.ค. 2025

ความคิดเห็น • 96

  • @jimhart
    @jimhart  2 ปีที่แล้ว +11

    Click here to sign up for our LLC Live Startup Workshop: hawthornlaw.net/workshop

  • @kiarab2441
    @kiarab2441 ปีที่แล้ว +4

    Omg Jim I love you❤ I been doing my research for some time now. And you just been making so many connections for me, throughout the video. 🎉 especially with your scenarios and examples. It just kept hitting me and I appreciate it so much. Great quality.

    • @jimhart
      @jimhart  ปีที่แล้ว

      You are so welcome

  • @BenWindle-zv6cr
    @BenWindle-zv6cr ปีที่แล้ว +4

    Great tips, especially the registered agent. Definitely didn't know the ramifications of making myself the registered agent.

  • @CraftySheenaa
    @CraftySheenaa 6 หลายเดือนก่อน +1

    Thank you. Such a transparent video to really think about if you are trying to set up your LLC . Wishing you the best in Portugal

  • @allenadayswork2216
    @allenadayswork2216 2 ปีที่แล้ว +3

    Glad I watched this. I did not know about this registered agent every LLC is supposed to have. lol

  • @chalplec4241
    @chalplec4241 2 ปีที่แล้ว +31

    Hey Jim, I'm from NC and have my own LLC trucking company. I handle my own bookkeeping using Xero and HubDoc and file my own taxes but I was wondering if I should approach a tax preparer or an bookkeeping/accountant firm to go over my Xero account and file my taxes for me. I'd just like a professional that I can meet with once a quarter to self audit my Xero account and prepare my taxes for me. I've reached out to places online just searching small business accountants and they are all wanting to charge $500-800 a month to do everything for me and not just my taxes. I feel like I'm searching for the wrong thing. I'm just a single owner/employee with $250-350K in GROSS revenue and my expenses are very simple all cash based, no debts, loans, credit cards, etc. and don't find it necessary to need somebody to do all of that for me for that cost.

    • @rebekahsecrest8745
      @rebekahsecrest8745 2 ปีที่แล้ว

      So at what point do you hire a registered agent because in my state Iowa I need a agent for the articles of organization. Once I have a agent I can continue to file The OA and Certificate of Organization. Then I can file the LLC because I need the agent and certificate to file the LLC. Oh my question is if I should just hire one first and foremost then file the rest? Help me understand the order of operation to filing OA/ CO/ LLC filing/ registered agent ect

    • @mylespop
      @mylespop ปีที่แล้ว +3

      @@criticalmoment3859 thank you for this distinction, I understand now.

    • @WS1_AUTOS_N_STUFF
      @WS1_AUTOS_N_STUFF ปีที่แล้ว +2

      The whole point of owning your own business is to avoid paying other businesses for nonsense 👍 a contract is a contract! Don’t need to add a middle man just to hand over money to file something or whatever. Each person sign a copy of contract and that’s it , you each then put in your own file cabinet and done ✅

  • @modernminimalist1
    @modernminimalist1 5 หลายเดือนก่อน +1

    Thanks for the info on a registered agent! I didn't know about this. My state only charges $35 a year. 👍

    • @jimhart
      @jimhart  4 หลายเดือนก่อน

      Glad to help

  • @bdmixchannel3011
    @bdmixchannel3011 2 หลายเดือนก่อน +1

    its really Amazing . it help us to choose the best LLC formation service for our business.

    • @jimhart
      @jimhart  หลายเดือนก่อน

      Glad to hear that

  • @littledakotarecordingcompa5913
    @littledakotarecordingcompa5913 11 หลายเดือนก่อน +1

    Super helpful. Thank you.

  • @massterrbarber
    @massterrbarber ปีที่แล้ว +3

    Amazing how I plan to get an LLC for owning my first barbershop 💈 business and I have never been in the LLC situation before and I’m looking for the best way to be successful with it but don’t know how to go about it the right way and what to do first.Awesome advice.

  • @ariela_
    @ariela_ 2 ปีที่แล้ว +7

    Have any videos on dba “doing business as” for a sole proprietor? Also legal pages to protect my blog without having a llc?

    • @journey2millionaire
      @journey2millionaire 5 หลายเดือนก่อน

      The issue with dba's is that its connected to your social security card and personal address.
      With that said, you do have 2 options.
      1. Get a Surety Bond for your type of service.
      These should help you pay for any damages too your clients.
      2. A written agreement created by a lawyer.
      This agreement should include business and client guarantees and actions. Include surety bond info.
      Please consult your lawyer on these matters first.🫡

  • @myallmart
    @myallmart ปีที่แล้ว

    I appreciate your good work: however these question still bother me.
    1-If someone is the primary resident of Maryland and wants to get LLC registered in Delaware, is it illegal or against the state law, not to register it as a foreign entity in MD?
    2-How the LLC and his personal income from that LLC will be taxed? And 3- how to avoid double Taxation?
    Please answer these questions!!!
    Thank you

  • @howardmcmillian5764
    @howardmcmillian5764 2 ปีที่แล้ว +1

    I'm excited about this workshop. So glad I found you.

  • @Segurasbusiness
    @Segurasbusiness 3 หลายเดือนก่อน

    8:00
    9:02 Business Address
    11:28
    14:50 Operating Agreement

  • @jamesballance9475
    @jamesballance9475 ปีที่แล้ว

    Thank you for putting this content out there

  • @gibbonholder3274
    @gibbonholder3274 ปีที่แล้ว +1

    Ras House Music 🎶 Laborie Beach ⛱️ St Lucia

  • @artrich7068
    @artrich7068 2 ปีที่แล้ว +7

    Thanks for the vids. They often answer little nagging questions I have, and questions I never asked. As a new novelist, I want to set up an LLC before I start publishing, but not sure what I need to do specifically. Was wondering if there are specific things authors/publishers need to set up that would differ from other businesses. Also, with so many people now mobile and able to relocate without issue (or wish to live in another country somewhere in western Europe), is there an ideal state for setting up an LLC for an independent artist willing to reside in that state? Nevada seems best, but that state fee is just so high.

    • @jasonkirchick9087
      @jasonkirchick9087 ปีที่แล้ว +1

      What did you end up doing as a novelist/author?

  • @Bomboni100
    @Bomboni100 ปีที่แล้ว +1

    Jim if I live in FL but have a rental property in NC, does it make more sense to register my LLC in NC instead of FL?

  • @Beeyouarekayee8
    @Beeyouarekayee8 2 ปีที่แล้ว +1

    I watched a lot of your videos about forming an llc and you always say online business I want to do a mobile detailing and lawn care business can you do a video about a non online business llc?

  • @LoritaJohnson
    @LoritaJohnson 7 หลายเดือนก่อน +1

    Question about virtual address and registered agent: if both are avenues to receive mail, why do I need both? Can you clarify the differences, please? Thanks!

    • @jimhart
      @jimhart  7 หลายเดือนก่อน +1

      Registered agent CANNOT be virtual. And you don't send mail to your registered agent. The registered agent is for legal correspondence and due process only.

    • @LoritaJohnson
      @LoritaJohnson 7 หลายเดือนก่อน

      Got it. Thank you!

  • @benjaminchen1131
    @benjaminchen1131 ปีที่แล้ว

    Hi,Jim!
    How can the article of organization of LLC show that LLC is owned by the Trust?
    Thank you!

  • @jeremyseamons7997
    @jeremyseamons7997 2 ปีที่แล้ว +1

    Ive watched a few of your videos. How much of this will apply to small business not so much on-line. If ñot you is there someone you would recommend for my start up legal reference? Thank you. Very relatable video.

    • @jimhart
      @jimhart  2 ปีที่แล้ว +2

      A lot - business is business whether you are online or offline.

  • @matt8953
    @matt8953 2 ปีที่แล้ว +2

    can u talk about how to open a business bank acct, they require physical address

  • @denn319
    @denn319 2 ปีที่แล้ว +1

    5:30 Hi Jim, I am non-US citizen and based outside of the US. Is it recommended to form an LLC in Wyoming, Delaware or Nevada?

    • @Masterbaiterfishing215
      @Masterbaiterfishing215 ปีที่แล้ว

      No it’s recommended to start an llc in what every state or country u live in . Your not gonna save on taxes eventually you’ll get screwed if u try and start an llc in Delaware

    • @jimhart
      @jimhart  ปีที่แล้ว +1

      Yes, but he said he is based outside of the US. In that situation, you can typically pick whatever state you want.

  • @estherrosenberg815
    @estherrosenberg815 10 หลายเดือนก่อน +1

    If the registered agent is receiving your mail, do you also need to set up a virtual address as well? Or can the RA address be used as the LLC address?

    • @jimhart
      @jimhart  10 หลายเดือนก่อน +1

      Depends on the RA. Some will - but you need to make sure that is included in the service.

  • @dannylee9026
    @dannylee9026 2 ปีที่แล้ว +1

    Thanks Jim.
    question--Is legalinc no longer in service? it directs us to incfile..

    • @jimhart
      @jimhart  2 ปีที่แล้ว

      Yes. I'm in the process of re-working my pricing with them. But I'm also a fan of incfile. You can use this link: hawthornlaw.net/diy-llc

  • @AlexDortschy
    @AlexDortschy ปีที่แล้ว +1

    Hey Jim! Great Content! Been binge watching a lot recently, soaking up your knowledge and I hope you respond... but I'm in a little conflict with residence at the moment.... my question is... I'm currently Deployed and have an address, BUT it's not in my home state (NC) and do not own a home anymore in NC, at this moment. Could I use a Families address "temporarily"?? What do you think I should do as far as using a "business address?" Can it be changed once I own a home again? Thanks in Advance

  • @miyaasemi5305
    @miyaasemi5305 7 หลายเดือนก่อน +1

    where should i file if im an out of state first year college student? my home state or my school state?

    • @jimhart
      @jimhart  6 หลายเดือนก่อน

      Good question. How serious is your business?

  • @angeladaniel209
    @angeladaniel209 ปีที่แล้ว

    question about a registered agent. Is this something I can change later and will it be a fee.

  • @angelcandelario4683
    @angelcandelario4683 2 ปีที่แล้ว +1

    Thank you for being so direct and informative!

  • @dustinwhitesell4860
    @dustinwhitesell4860 ปีที่แล้ว

    Hey Jim, what should I do if I’m gonna do short term rentals in other states as well as the one I live in.

  • @user-gz1yf3do5z
    @user-gz1yf3do5z 2 ปีที่แล้ว +1

    Thanks much for ur information…I hv a question..Can u hv a virtual mailbox??

    • @jimhart
      @jimhart  2 ปีที่แล้ว

      Yes you can

  • @stuartwilliams1285
    @stuartwilliams1285 ปีที่แล้ว

    Hi Jim are you enjoying Portugal?

  • @polbrunel
    @polbrunel 2 ปีที่แล้ว

    Hey Jim
    Great videos
    Very informative
    Learned a lot
    Do you only provide service for online businesses-
    Not a single member LLc that provides healthcare?

  • @matthewvanschoick9628
    @matthewvanschoick9628 ปีที่แล้ว

    Is this just for online businesses or can I do these steps for the business I want to set up. (Painting business)

  • @fertnaverato
    @fertnaverato 4 หลายเดือนก่อน

    Very helpfull!. I do have a few questions. I am not from the US. Is it ok for me to use an address from a friend or family member instead of paying for the address services someof the sites provide. I don't see anything going wrong but what if something does go wrong are my friends or family members at risk seeing that I used their address? And also, Incfile for example helps you with business banking, do you know which bank? Because I heard that you physically need to be in the US for opening bank accounts.

    • @jimhart
      @jimhart  4 หลายเดือนก่อน

      Do you have a tax ID number in the United States?

  • @santatobias-pruitt1245
    @santatobias-pruitt1245 2 ปีที่แล้ว +1

    Wondering if we need an LLC. Have 3 rental properties and opening a thrift store at end of Aug. can I get your expertise? My husband does all the maintenance on rentals and we both will work the shop.

  • @TabanNasona-wx8wu
    @TabanNasona-wx8wu 5 หลายเดือนก่อน

    I'm not in the state but can LLC work in South Sudan as well let me know before taking it into consideration as an important business entity in my country

    • @jimhart
      @jimhart  5 หลายเดือนก่อน +1

      I don't know - I don't practice law in Sudan

  • @perryd43
    @perryd43 ปีที่แล้ว

    Can you change your address at a later date?

  • @rebekahsecrest8745
    @rebekahsecrest8745 2 ปีที่แล้ว

    So at what point do I hire a registered agent. As I'm creating a OA a articles of organization? Or once I'm done with those and filing the LLC ? Because to continue I need a agent. But idk at what point in the steps do I need to hire one

  • @victorhrndz.8168
    @victorhrndz.8168 11 หลายเดือนก่อน +1

    what if I'm trying to manage and promote new talent "artist? what are my steps

    • @jimhart
      @jimhart  9 หลายเดือนก่อน +1

      Are you starting an agency?

  • @frankryder2024
    @frankryder2024 4 หลายเดือนก่อน

    Is it ok to put an LLC on your primary residence and use another state for the LLC

    • @jimhart
      @jimhart  4 หลายเดือนก่อน +1

      Why would you do that?

  • @alessandradonaldson
    @alessandradonaldson 2 ปีที่แล้ว +1

    Hi Jim Do you offer any service to trade mark our name/brand and courses name? Tks.

    • @jimhart
      @jimhart  2 ปีที่แล้ว +1

      Yes! Visit hawthornlaw.net/services

    • @alessandradonaldson
      @alessandradonaldson 2 ปีที่แล้ว

      Ok, but you only offers services continued. Do you have one time service to do what we want? What I understand, it’s a kind of subscription. Correct me if I’m wrong.

    • @kateholland4102
      @kateholland4102 2 ปีที่แล้ว

      Yes I use legalinc and they're not expensive and worth it

  • @monicavega2090
    @monicavega2090 2 ปีที่แล้ว

    Jim do you recommend an LLC for an online Amazon ebook small business?

  • @alaines430
    @alaines430 ปีที่แล้ว

    Hey, Jim! Do I need an operating agreement if I own the business alone?

    • @jimhart
      @jimhart  ปีที่แล้ว +1

      I would say yes.

  • @cdub4693
    @cdub4693 2 ปีที่แล้ว +1

    What’s a fair cost to have an attorney setup an LLC?

    • @jimhart
      @jimhart  2 ปีที่แล้ว

      Here's my page: hawthornlaw.net/services

    • @guillermorodriguez9176
      @guillermorodriguez9176 10 หลายเดือนก่อน

      Do you work in Texas? ​@@jimhart

  • @SAKAICHEWY
    @SAKAICHEWY ปีที่แล้ว

    I'm in Wyoming and it doesn't allow a PO box

    • @jimhart
      @jimhart  ปีที่แล้ว

      Every state has different rules - but are you referring to a business address or a registered agent address?

  • @loonietoon98
    @loonietoon98 2 ปีที่แล้ว

    Do I need to Get an business permit before Getting an LLC

  • @toobin8r
    @toobin8r 9 หลายเดือนก่อน

    So, it wouldn’t make sense to form an LLC because, say, you’ve just got family that wants to pay you for services, but that you hopefully won’t be doing it long-term

    • @jimhart
      @jimhart  9 หลายเดือนก่อน

      What kind of services? It depends.

  • @tvtime6558
    @tvtime6558 ปีที่แล้ว

    Moving to Portugal? Why???

  • @SanMan10100
    @SanMan10100 5 หลายเดือนก่อน +2

    80 bucks a month for virtual/forwarding mail service? Inexpensive. I must be really out of touch and got hanging out with the wrong crowd bc that's not all that cheap... excuse me "inexpensive" to me. You guys?

    • @jimhart
      @jimhart  5 หลายเดือนก่อน +1

      I think you are out of touch. No offense intended. If you are building a business and $80 a month is a problem then perhaps a job is a better option. Your overall startup expenses should be around $2,500-$5,000 when you consider software, legal expenses, product development, marketing, etc. Many people are under the false impression that starting a business is "free" - but that just isn't the case.

    • @SanMan10100
      @SanMan10100 5 หลายเดือนก่อน

      Right on. ​@@jimhart

    • @SanMan10100
      @SanMan10100 5 หลายเดือนก่อน

      @@jimhart Well I myself didn't think it would be free. I just didn't think it would be so darn expensive. I stand corrected now. Thanks.

  • @tosinademusic9931
    @tosinademusic9931 ปีที่แล้ว

    Iaccountant?

  • @SanathReddy-j8l
    @SanathReddy-j8l 11 หลายเดือนก่อน

    Pretty good info. Need clarification on multi partner ĹLCs
    Skreddy

  • @jans1996
    @jans1996 2 ปีที่แล้ว

    Do you have a video for LLC for nonresidents?

  • @Steelcraftwelding
    @Steelcraftwelding 5 หลายเดือนก่อน +1

    Good advice BUT don't lead people in the wrong direction. IF YOU advertise your company without an LLC or Trademark and someone sees the name anywhere and likes the name they can call SOS to see if the name does have an LLC or trademark. From there, they can technically steal that name. If i'm wrong please correct me.

    • @jimhart
      @jimhart  4 หลายเดือนก่อน

      You are incorrect. The SOS cannot state whether you have a trademark.

    • @Steelcraftwelding
      @Steelcraftwelding 4 หลายเดือนก่อน

      @@jimhart How come when I called the SOS they gave me the number linked with the sos to verify whether that name was trademarked? was it to a different place then?

  • @louierockefeller9371
    @louierockefeller9371 ปีที่แล้ว

    80 bucks

  • @machineman6498
    @machineman6498 2 ปีที่แล้ว +1

    👍

  • @clcnj5365
    @clcnj5365 2 ปีที่แล้ว

    It’s offensive to refer to people’s hobbies as not a legitimate business if they intend on selling or providing services with that hobby. Many people want to form that LLC to protect themselves before they start selling.

  • @QuantumBunnyyy
    @QuantumBunnyyy ปีที่แล้ว +1

    I’ve thought about just paying LegalZoom. Do you have any experience with that service?

    • @jimhart
      @jimhart  ปีที่แล้ว

      Not my fav. What do you need help with?