Forming An LLC for Your Online Business
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- เผยแพร่เมื่อ 19 ต.ค. 2024
- Forming An LLC for Your Online Business //
If you are starting an online business, forming an LLC is one of the first things you need to do. Before you start a website, before you file a trademark, before you start selling products... you need to form an LLC.
Why is forming an LLC so important? In today's video, we share the fictional story of Joe - an online entrepreneur who messed up his LLC filing and had to deal with the fallout. Although Joe is not a real person, his story was developed based on my experience dealing with multiple business clients' over the years.
Are you ready to form an LLC for your online business? Click here to get started: www.hawthornlaw...
Still trying to figure out the proper legal structure for your business? Click here for a cheatsheet: www.hawthornla...
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This video is for entertainment and informational purposes ONLY and should NOT be considered legal advice. By watching a video or commenting on a video, we are not forming an attorney-client relationship. If you need specific legal advice, please ask an attorney in your state.
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Big news! I finally have an option for all of you DIYer's out there that want to just jump online without the need to talk to a lawyer. Visit our new page at www.hawthornlaw.net/diy-llc for more information!
I'm glad! I wanted to post this video last week, but was waiting to get this DIY system all set up.
Extremely well done informative video. This is the type of clear direction entrepreneurs need to even have a chance to compete in today's market. Thanks Jim
Thank you Jack!
Thank you for sharing your wisdom with us..in such a pleasant, easy-to-listen-to, yet clear cut manner! I have faithfully downloaded and studied your checklist/cheat sheet, thank you so much!
My question: I am in Florida, which address must I use for my online business, (single member-non- S-corp-for-taxingpurposes) LLC...
I will provide online business-services only, all digital, all cloud based.
For privacy & security reasons and to prevent co-mingling I prefer not to use my personal address...
-I have a P.O. box with the USPS in the incorporated part of town. I was told by the postoffice I can use their physical address as well (=county tax rceipt + city tax receipt) as notarized original documents will be sent to the company as well.
-my personal address is in the un incorporated-county tax-receipt-only part of town.
I am pretty sure many struggle with the same issue of using their personal address for an online business for the same reasons I mentioned above...Jim Hart at HawtornLaw to the rescue? Hope you can help clarify this for us?
I recently bought a product from a major retail chain and there was a piece of paper in it that pretty much seems to say no class action lawsuits can be taken against them or really be sued at all for any reason and that if you didn't agree then don't use the product.
QUICK QUESTION: What if i decide to form an LLC in May, BUT i started my business in January. When it comes to taxes can i claim my income and expenses from January when i first started my business or only claim from when i filed my LLC?
If you can make a video about this it would be great!
Thanks for the content Jim! And i understand this is just for educational purposes only.
Unless you elect otherwise you'll still file a Schedule C.
So much great information, thank you!
This was a bad example, most videos don't address the person with only $100 in their pocket and want to just sell clothing. "Joe" was Dumb as hell, he was making money and could of hired a lawyer before things got shaky.
Thank you for the videos I'm working to take in the information and get set up properly.
Yikes! I hate to hear about "Piercing the Corporate Veil" -- prosecuted a few cases with this at issue -- so much litigation!
So many people disregard this as “it won’t happen to me...” until it does...
So many non lawyer youtubers talking about LLC's are a bunch of JOES ! LOLOL
Excellent content! Thank you for doing these videos, they are extremely helpful.
You’re welcome! Glad you found it helpful!
Will you do a video on how to transition from a sole proprietorship to an LLC? like if you owned a trademark under a sole proprietorship and you would also have to transfer that over to your new LLC?
I'm trying to figure out the order of transferring assets like that so that you're still preventing "piercing the corporate veil" - I have not registered a trademark yet
That’s a great topic and was actually on my list of next videos to do!
@@jimhart Thank you! I'll look forward to seeing it!
ANOTHER QUESTION JIM: So i created an EIN number and i chose car rental. But its not a car rental business its a little different.
Now my question is will this be a big deal if i dont change it because to have a car rental you need some type of business license to operate (i think) i rent my personal vehicle on a app (kind of like airb&b) so will this impact me in the long run or its not a big deal?
Thanks Jim 🙏
You should have emailed this to him so no one can take your idea n give you competition...
Your other video says not to form an LLC for an online business.
So which is it?
What words need to be on newspaper about new LLC to meet requirements?
Hi I have a question: I'm planning to open a company in the US (not yet sure if LLC or corporation) as a non-resident. However, this company should be owned by a local corporation here in Switzerland that will exist only in a few months. Is it difficult to change the owner of the company from myself to this other company later? What are the registration fees?
Can a non US citizen form a company in the US through your firm? If yes, what are the procedures?
You can either schedule a consult with me and I can do it for you, or you can do it yourself through this link: www.hawthornlaw.net/diy-llc
Frankly, I would recommend scheduling a consult with me first - www.hawthornlaw.net/consult
Where in NC are you?
HOOOOOOOOUUUUUUUUUUUUUUAGGGGGGGHHHHHH! HE'S JOE!
I want to use rocket lawyer. They asked me about Regulation lawyer so i should do that?
@@jimhart thanks you saved me i was just about to go the easy route , ok let me get an llc lawyer lol
Why do you want to use RocketLawyer?
Good choice!
@@jimhart just figured it would be easier and they would get it down without the hassle of doing on my own .
We have a DIY service, but you can also schedule a consult where we can handle it for you. So if you want to do it yourself you can, or we can handle it during a quick phone call.