Let's talk about the most common single-member LLC mistake. Why even form an LLC? A limited liability company is a great way to protect your personal liability. But starting an LLC is not as easy as just filing a couple of forms with the state. Learn how to form an LLC the proper way and how to start an LLC without putting yourself at risk.
I just applied for a llc in georgia. I'm starting out by myself as the owner, office staff and field employee. It's just me until I can hire employees. I did not pick the sole proprietor llc because I thought that was for businesses that never plan to hire employees. Should I have done the sole proprietor and did I just mess up. I'm waiting on the approval from the state of georgia is it to late to change it if I did it wrong? I'm panicking now please respond 🙏
Super clear and concise information on LLC's. You're answering a lot of my questions. I'll be binge watching from Maine. Thank you for sharing your knowledge with us!
After years of being afraid, I finally set up and filed for my LLC. Just wanted you to know that your videos are VERY informative and VERY helpful. Thank you for sharing your expertise for scaredy cats like me 😊
This explanation was so helpful! I'm always so paranoid that I'm going to make a mistake out of ignorance that will really cost me, so I really appreciate your accessible explanations. Even though I'm not based in Colorado and laws may differ for me, your videos always give me a great jumping off point. Thanks again!
I lost two bank accounts for not filing as a sole proprietorship when I was working as a independent IT contractor for the last three years when I applied for my PPP loan. I wasn't required to file as a sole proprietorship so I filed as an individual with 1099s. As a result after I got my PPP loan the bank froze my accounts and refused access to the loan. If things are required they should be required.
Appreciate all this info, no nonsense informative need to know. Thanks! It's been super helpful, I'm starting a SMLLC for the 1st time this year, this has been a boon before taking the leap. It's cool you're based in Denver, I'm in Larimer county. I've been studying videography for the past 5 years to as a means to advertise via vlogging for my business, glad I watched this video before registering, it gives me clarity navigating/juggling that while running a business. Thanks for making this video.
Awesome information. I do have a question about the insurance protections mentioned. I have general liability coverage but I heard you mention LLC Insurance. Is this a separate coverage I need to have in addition to the general liability coverage?
I love your videos and really appreciate all the information you are sharing . Not only that your video is entertaining, it’s also very informative. Pls. keep doing them as I always look forward to it .
Hi so I have had to pay for my business expenses with my personal credit card is there a way of putting those expenses onto a business card once I open a checking’s account or a business credit card?? Any help would be appreciated, thanks!
Hey Aiden, I hold 2 mortgages in “my name” but my llc has its own business account, has paid repairs, mortgages (insur, tax, etc) 100% of the time and I market all contributions/distributions as member etc, sign as llc, name. Would those mortgages in my name cause any piercings? - I used to have my wife on llc but became a pain as we both ran diff businesses and she didn’t help on RE part and tax time was a pain with K1’s and had to file separately vs personal so we talked about it and booted each other from llc, lol
Thank you Aiden for the great video! Very informative! I have a question, I know that you can run the business with your social security number with a single- member LLC, how about obtaining an EIN (FEIN), is there anything wrong with working with an EIN with a single member LLC. (I am aware they suggest to have EIN if you have employees working for you). I am thinking EIN will be more beneficial cause some banks require that you have an EIN to open an business account and when you want to do wholesale, distributors ask your EIN. Also when you have an EIN you don’t have to be giving out your SSN to everyone. Thank you for your time! 🙏🏼
Also, do I need to have a EIN for the LLC or should I have a structure whereby I have a LLC registered with the Federal as a company then use DBA for the local business registration in my state of operation? Please clarify Thanks so much.
Always love to hear you dump all the knowledge. I'm struggling though. I need/want to start an LLC but we will be moving within a year or so. I don't want to wait to start selling though because I already have merch and tools for selling. NEED HELP on if I should file in a state I think we will move to or the one I'm currently in????
I have a friend who has a similar question, whereas she is still a resident of Texas but lives in California to attend school and wanted to know if she could run into issues if she were to file the LLC in the state of Texas instead of California.
Thanks so much for all your valuable information!! I am wanting to start my own online business and watching your videos have been so helpful :) I have a question about sole proprietorship. If I open my business as a sole proprietor because I’m just getting started and say it ends up doing really well that down the road I need employees to help, can I switch my sole proprietorship for this business to an LLC? Or do you recommend I just open up as a Single member LLC to begin with? Thank you in advance!!
Hello, I created an LLC disregarded entity, it was all fine, but when I received the Article of organization I noticed that my member name was written in the wrong way. I mean On the name form I see the sequence order: Last name, Name, Middle Name. I saw that when in the US requires your full name, they mean the sequent order: Name, Middle Name, Las Name. Do you think that the order of my entire name will affect my LLC?
I so much appreciate you and the information that you share. You could easily charge "BIG BUCKS" for what you share. I can only hope that folks recognize when they are getting REAL, TRUE, ACCURATE and IMPLEMENTABLE information. Thaks a bunch -Andrea C
Let's talk about the most common single-member LLC mistake. Why even form an LLC? A limited liability company is a great way to protect your personal liability. But starting an LLC is not as easy as just filing a couple of forms with the state. Learn how to form an LLC the proper way and how to start an LLC without putting yourself at risk.
Forgive me for sayin so but I'd so love to be All Up in Yo Business....ouuuu chyle,🤭 loving ya vibes! JS😚
I just applied for a llc in georgia. I'm starting out by myself as the owner, office staff and field employee. It's just me until I can hire employees. I did not pick the sole proprietor llc because I thought that was for businesses that never plan to hire employees. Should I have done the sole proprietor and did I just mess up. I'm waiting on the approval from the state of georgia is it to late to change it if I did it wrong? I'm panicking now please respond 🙏
Super clear and concise information on LLC's. You're answering a lot of my questions. I'll be binge watching from Maine. Thank you for sharing your knowledge with us!
After years of being afraid, I finally set up and filed for my LLC. Just wanted you to know that your videos are VERY informative and VERY helpful. Thank you for sharing your expertise for scaredy cats like me 😊
One of the best channels on youtube, hands down! Thank you for all you have shared!
You rock. Thank YOU!
Awesome video and information. Thank you 😊
You are so welcome!
This explanation was so helpful! I'm always so paranoid that I'm going to make a mistake out of ignorance that will really cost me, so I really appreciate your accessible explanations. Even though I'm not based in Colorado and laws may differ for me, your videos always give me a great jumping off point. Thanks again!
Absolutely love this channel!
Much appreciated!
I'm here to pay respect to this channel, it's just awesome, great info, keep it up
I appreciate you!
I lost two bank accounts for not filing as a sole proprietorship when I was working as a independent IT contractor for the last three years when I applied for my PPP loan. I wasn't required to file as a sole proprietorship so I filed as an individual with 1099s. As a result after I got my PPP loan the bank froze my accounts and refused access to the loan. If things are required they should be required.
Great info ❤
Appreciate all this info, no nonsense informative need to know. Thanks!
It's been super helpful, I'm starting a SMLLC for the 1st time this year, this has been a boon before taking the leap.
It's cool you're based in Denver, I'm in Larimer county. I've been studying videography for the past 5 years to as a means to advertise via vlogging for my business, glad I watched this video before registering, it gives me clarity navigating/juggling that while running a business.
Thanks for making this video.
Love this channel !!! You got mad style yo
And like yo delivery🤜🏽👨🎤Thanks for helping!
Wooo woop! 🙌 You’re welcome and thanks so much for watching!
Honestly I just got the LLC because it sounds so much better. I have no idea what I'm doing.
Very good information.
You are awesome! You really snuck that little gem in out of no where.
I try :-) Thanks for watching!
Thank you so kindly for this valuable information. It is greatly appreciated.
Thx ❤
great video!! you made it so easy to understand. THANK YOU so much
Awesome information. I do have a question about the insurance protections mentioned. I have general liability coverage but I heard you mention LLC Insurance. Is this a separate coverage I need to have in addition to the general liability coverage?
Perfect! Thank you very much!
I love your videos and really appreciate all the information you are sharing . Not only that your video is entertaining, it’s also very informative. Pls. keep doing them as I always look forward to it .
Great video
Excellent video. You made your point abundantly clear. I now understand what I have to do to manage my LLC.
Hi so I have had to pay for my business expenses with my personal credit card is there a way of putting those expenses onto a business card once I open a checking’s account or a business credit card?? Any help would be appreciated, thanks!
Excellent explanations of SMLLC facts! Thank You! Rich
Really good information and sooooo true. You have you to do all the "admin" stuff. Treat it truly as a separate business.
Exactly!
This was really good info. :) Thx so much!!!
Hey Aiden, I hold 2 mortgages in “my name” but my llc has its own business account, has paid repairs, mortgages (insur, tax, etc) 100% of the time and I market all contributions/distributions as member etc, sign as llc, name.
Would those mortgages in my name cause any piercings?
-
I used to have my wife on llc but became a pain as we both ran diff businesses and she didn’t help on RE part and tax time was a pain with K1’s and had to file separately vs personal so we talked about it and booted each other from llc, lol
Thank you Aiden for the great video! Very informative! I have a question, I know that you can run the business with your social security number with a single- member LLC, how about obtaining an EIN (FEIN), is there anything wrong with working with an EIN with a single member LLC. (I am aware they suggest to have EIN if you have employees working for you). I am thinking EIN will be more beneficial cause some banks require that you have an EIN to open an business account and when you want to do wholesale, distributors ask your EIN. Also when you have an EIN you don’t have to be giving out your SSN to everyone. Thank you for your time! 🙏🏼
Also, do I need to have a EIN for the LLC or should I have a structure whereby I have a LLC registered with the Federal as a company then use DBA for the local business registration in my state of operation? Please clarify Thanks so much.
Always love to hear you dump all the knowledge. I'm struggling though. I need/want to start an LLC but we will be moving within a year or so. I don't want to wait to start selling though because I already have merch and tools for selling. NEED HELP on if I should file in a state I think we will move to or the one I'm currently in????
I have a friend who has a similar question, whereas she is still a resident of Texas but lives in California to attend school and wanted to know if she could run into issues if she were to file the LLC in the state of Texas instead of California.
Thanks so much for all your valuable information!! I am wanting to start my own online business and watching your videos have been so helpful :) I have a question about sole proprietorship. If I open my business as a sole proprietor because I’m just getting started and say it ends up doing really well that down the road I need employees to help, can I switch my sole proprietorship for this business to an LLC? Or do you recommend I just open up as a Single member LLC to begin with? Thank you in advance!!
I answered your question in my newest video! Check it out at th-cam.com/video/SrGkYbAD25I/w-d-xo.html
Hello, I created an LLC disregarded entity, it was all fine, but when I received the Article of organization I noticed that my member name was written in the wrong way. I mean On the name form I see the sequence order: Last name, Name, Middle Name. I saw that when in the US requires your full name, they mean the sequent order: Name, Middle Name, Las Name. Do you think that the order of my entire name will affect my LLC?
I so much appreciate you and the information that you share. You could easily charge "BIG BUCKS" for what you share. I can only hope that folks recognize when they are getting REAL, TRUE, ACCURATE and IMPLEMENTABLE information.
Thaks a bunch -Andrea C