9 Mistakes to Avoid With an LLC
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- เผยแพร่เมื่อ 2 มิ.ย. 2024
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Non stuffy Lawyers with a sense of humor and desire to help people, love it.
This channel is the best business, legal, tax and asset protection information anywhere, bar none.
Yep...
I was told it’s $390-450 for consultation, $800 for LLC or SCorp setup and $825 for registered agent, and no appointments available until November?
contact your firm twice leaving messages with contact info over 2 weeks ago apparently no interest
I am just getting my LLC set up. I was not able to get a business loan. All expenses have come from my personal account. Do I ever recover any of the set up expenses. Up to about a 1,000.00 so far. Still don't have business account set up, or domain, or Shopify and Amazon account. They all come with a price tag...first time watching you guys... I like you and have subscribed...
Welcome aboard!
Content - very good and useful.
Eating - No No not done
Too much banter - take it off line it’s getting annoying.
Thanks Mark for your acknowledgment. hope the banter goes down. Good luck great content(minus banter)
Channel has great info but my god... get to the effing point!! 6 minutes in until it begins!
I would like to agree and some , but then I’m afraid if I called them to sign up for their services they won’t take me! Lol
Obviously they are good professionals are very non-knowledgeable. However there may be a little bit of ADD in the sauce. lol! Maybe that’s why I like them. Birds of a feather find each other. …
Lighten up. These guys are great.
True !
True
I watch their vids at 2X speed.
Thanks for the advice, I took notes.
I am buying some recording studio equip and I rent a rehearsal studio in which to operate. I will create band projects and do live personal performances on streaming platforms.I hope to operate as a recording studio service as well. Basically I want to get my feet wet in all kinds of music business as well as just have a super cool man cave as my sanctuary to rock out anytime 24 hrs a day 365 whenever I choose to do so. I've just become a "trader" officially this year and I need to figure out a strat for taxes from trading and using my studio as my main tax right off plus the insanely long trip to that studio from my remote location 150 miles away. I'm in Colorado. I know it would be a good idea to get all my ducks in a row. It might be a good idea to have a chat about it with you guys.
I didn't know Stephen Colbert was also a CPA lawyer
Perfect Timing with this one brother im tuned in
These guys are great. Please take a 5-10 minute break to eat. Fir the advice you are giving, I have no problem waiting. Keep up the great work!
Spot on on the proper LLC setup and good books.
6:40 Don't make your LLC member managed, make it *manager managed* instead. There's a lot more privacy in that, and folks can't get access to your info right away.
10:20 Manager managed is also better for banks / bankers. If you do member managed, there's a chance the bank is going to want more crap.
11:20 Setting up the LLC in the wrong state.
41:05 Open an LLC bank account, separate asset protection from personal acct.
I want to save these
47:20 had me rolling the whole show was informative and funny like gillie and wallo lmao thanks for the gems
Can we change it if it was set up as a member managed to a manager managed?
@@cowboydelnorte3078ffl
@@montybaddar1985l
How to take a 15 minute video and turn it into 48 minutes. Watch this video at 1.5X speed.
i always do anyway
Its a marketing plan, the ha ha ha buddy buddy approach. Apparently it was well received by many people.
Yay Matt. You got me with a knock out punch 🥊 on #1! Regret using Legal Zoom which seemed to come up on each answer. Also took the DIY route. Listen everyone! just go with KKOS and get it done right in the first round. Please. No regrets
Just in the first couple of minutes your video are welcoming the music show your level of professionalism, it's fun listening to you both. Every time I watch the videos from you guys I learn every time. This is always worth my time
Great content 👍🏽👍🏽👍🏽
Thanks for the info with humor. Enjoy the LLC JUA group! Surely a great fun group learning what is working. We don’t know what we don’t know. Thank you both.
A greatest strength of a tribe/country is it has a lot of people, citizens, members; but at the same time, it can also be a greatest weakness because it has to take care and feed all those people.
I know you said if I am starting an operational business, an S-Corp is best if you net $40K a year. But is starting with an S-Corp best? Or should I create an LLC and convert it later?
Thank you so much great information and very valuable too.
You are so welcome!
Thanks for all the great lessons
You guys are very funny . I love your show. Very educational
Just in the process of setting up my first LLC. I have found this information germaine and succinct to building my understanding of asset protection. Enjoyed the humor between you two also. What a great channel Mark. thank you for developing it...and even a deeper sense of gratitude for sharing decades of your life building education, experience, and countless interactions with people who got their fingers caught in the grinder (lawsuits) and call on guys like you to save their sorry arses....great job
Thank you for this valuable info
So glad you enjoyed it!!
I called kkos and didn't sign uo for services yet but have to say some of the nicest people! Mark and team is the real deal
Great show!!
I find you guys most interesting. You are really great together.
Simply phenomenal. Professionalism of both attorneys is awesome!!!
You Rock! Peace and blessings.
I love listening to you all, extremely helpful guidance. Thank you.
Thank you so much for this valuable info! I’m just starting to plan my business and how to set it up. You guys rock 👏🏼👏🏼👏🏼
I’m so impressed with you guys! Haven’t even started with my American dream but plan to come to you when we do 👍🏻
We will be here when you're ready!! Thanks for watching!
Thanks Mark, you motivate me to stick it to the man.
You often make what could be a boring topic interesting!
How does doing annual minutes work if you're the only person in the LLC? Also, do member certificates apply if you're manager-managed?
Great information
thanks for your comments & watching
I recommend you to start making millions in Crypto.....write a text to my manager on WhatsApp on the number below👇
PLUS+ one(1)nine(9)zero(0)eight(8)two(2) seven(7)four(4)(zero(0)nine(9)six(6)five(5).
Great info ,When ready I will call you.
What about an LLC business owner (contractor) who acts with deceit, malevolence, and weaponizes time in the way of extensive delays to force his customers into concessions that always financially favor him? He hides behind the LLC to conduct business (build homes), but requires the customer to agree to grant him lien of 1/2 the property and home under construction until completed. However, while under construction the home appears in the county records under his personal name with no mention of an LLC. Does that completely insulate him from severe construction failures, faults and incomplete structures of the home? Again, he weaponizes time and forces concessions, including taking delivery before the home is complete. In this case, the building permit had expired for 6 months before being forced to take ownership. The home was 2-1/2 years late from the promised completion date. 4 years later, issues have still never been addressed. The LLR is only interested in keeping business going, and does not favor victims of such malfeasance. As an example, the home needs ~$250,000 in concrete, structure, and finish repairs and completion.
😂 love you guys!
good information. but way too much time wasting small talk
The algorithm lead me to this video. First time I've heard of you or listened to your podcast. You had me when one of you is thinkin' about Ford and the other is thinking about women. 🤣🤣🤣 Hooked. Thank you.
You guys rock love your content I always learn something that’s worth taking notes.
Thanks for the encouragement Kasi!!
Love the Tommy Boy reference.
I'm only 5 minutes in, you guys are great!!
Too much Catsup? Try animal style on that double-double from In-n-Out. Not on the fries though....
1. I revoked my s-Corp so I could get the QBI deduction. The 20% reduction on full income seemed better than the 7.65% of just the first 147k of my income… What do you think about that?
Income about 350k married filing jointly. And I’m not having to pay for the payroll / direct deposit fees and worry about all the hassle …
2. Do you need minutes and a board meeting if I’m a single member LLC? I’d look schizophrenic if I sit in a board room taking to myself 😂
3. Does single member need an operating agreement? I always agree with myself..
Don’t show your asset when it comes to Protection
I really need to get a hold of either one of you. Attempted the 800 nbr once and got to a voice mail. Any other way to connect with you?
As informative as this content is, I really want some FRIES NOW! 😭😭😭!
I love it
I always sign as managing member.
Great information. To much joking around for me.
🤣you guys are great!
I don't have an LLC...this will help me ty
Good information but man this could’ve been a 15 min video
I am starting a krypto mining business using GPUs from the ground. Do I need to set up an LLC for it and file sole propriertorship on the county level?
Can't I just have one LLC form another member-managed LLC for the paperwork and sell it back to myself? Or is that going to interfere with the new law from January about disclosure?
About the sauce?! Are you ok? LOL!!! I couldn't hold myself...I mean TV Show is missing a LOT! Pls, do the foreigners LLC podcast and it should be your next bros! As I'm waiting for your legally detailed input, looking forward to doing biz with you Gents! Solon,
I cannot stop laughing. You guys are so funny. Love the education and happy uplifting vibes!
You should definitely be concerned with your online reviews and get your office and staff organized and maybe get lawyers with better experience.
The reviews are scary and makes sense. Like to hear yourself talk more than like to listen.
I can't find any videos on LLCs taxed as an S Corp, and the difference from actual S Corps. Need more detail.
Could you do a video explaining how to set up your llc if you know you plan on leaving the US full time, to get FEIE, in the near future. I'm just starting online ecommerce business, I know this is my goal, but because of that idk what to do now.
thanks for your comments & watching
I recommend you to start making millions in Crypto.....write a text to my manager on WhatsApp on the number below👇
PLUS+ one(1)nine(9)zero(0)eight(8)two(2) seven(7)four(4)(zero(0)nine(9)six(6)five(5).
Your right we can’t get a loan and our personal taxes gets taken every year. I don’t want to close but I just don’t know what to do
Thank you for this very insightful video; however, I would like to know is my "Managing Member" the same as "Member Managed"?
Probably the same.
Thanks for your video. Would like to ask some questions. I would like to form a Wyoming corporation for anonymity purpose. I also would like to build credit for both and use tax strategies with S Corp and pay myself a salary. Should I form an LLC in Wyoming and file a foreign S corp in California? Does it have to have exact business name? Should I buy property, car and other assets with Wyoming or California company for asset protection? Should I pay myself from which Wyoming or California company?
bless..for clarifying WHEN you should elect as an s corp..folks will run out and do it and are making no money or 1000 a year
Hi Nia, so I should start as an LLC for the first year until I see I'm making real money? I plan on making 50-100k my first year. Btw, I'm a new subscriber of yours 😉
Can the series LLC in Wash DC do both own real estate and have small business also?
What is the best phone and email to sign up as a client for series LLC?
is it an 800 flat rate for helping me on setting up an LLC, or do you offer to do it for clients?
How do you suggest starting a trucking company as a subsidiary of a holding company for asset protection? The holding company is supposed to own or lease the trucks and have all the financial backing and the trucking company just pulls the loads. What should the holding company’s NAICS number be?
Form an "operating" company and a "property" company. The PropCo holds all the tangible and real property and leases those assets to the OpCo for a fee. Consolidating the OpCo and PropCo renders the benefits gained from separating the companies and related risk moot. I have seen this with trucking companies. Now in situations where the tangible assets were held inside that same company that runs the operations, these were all C Corps, and the risk mitigation was gained through some level of self-insurance and the use of a logistics-specific captive insurance company with multiple layers of re-insurance. This was a $90MM annual revenue company, and it may be overkill for what you are doing. If you have real potential risk from liability, and your current insurance premiums are significant, captive insurance companies are a great tool.
@@paulthecpa2717 thank you. Much appreciated
I started real estate investing in 2023. I created an LLC in the state I live but do not invest in my home state. I bought 2 properties in another state using the LLC of my home state. I then had a company- PCS set up my holding LLC and I have a sub LLC in ILL. where I bought property in IL and in OH. Am I messed up with my LLCs? Is it really necessary to have an LLC for each property I buy?
Thank you I am an Enrolled Agent and Financial Advisor. I always learn something new. I would love to attend any seminars or webinars if you hold. I am in Socal.
You are awesome!!
Tickets for my Orange County event close on Sunday! If you want to attend, here is the link: markjkohler.com/product/basics-and-advanced-class-two-day-business-owners-workshop/
In wash dc if LLC in the operating agreement that say no regular meetings is that ok? Member manager series LLC?
Hey y’all talked about what banks do to screw up the loan process can I get that video first video am watching of y’all
I'm totally a minivan guy.
Mark, I have a rental property in Virginia, but live and operate my property from California - What would be a business structure in this case? Where should I register my LLC? Should I register my LLC as S-corp?
You guys are hella funny.
Do you suggest to get an LLC for each member of my family?
What is the cost to have your services on establishing an LLC in Florida?
Mark, If I have a single LLC, that when paying taxes is paying self employed taxes, isn't the same as a sole proprietorship when it comes to asset protection or it is not?. I just have this side business that i started recently to do bookkeeping work... someone said to me that advantage to form the LLC was because i have better protection. I just started and I have net income in this side business of $6k
What is your schedule for Live streams?
I just love the sound of food being chewed in someone's mouth.
Don’t forget if your running a escort service to claim home office.
I do have an LLC and set it up in MA. I have a small business in which I work as a contractor for various companies. I also a landlord. I am learning so much from this channel.
Why MA is so expensive?
Mark, question! online business ( i.e Affiliate marketer, Dropshipping) S-Corp or LLC?
I wish he would answer. I'm starting a telemed business.
Yes I do have an LLC
Can you put time stamps in description please?
Great Info.... the link to your book returns " Page not Found"....
Thanks for the heads up! Here is the working link: markjkohler.com/product/8-steps-to-start-and-grow-your-business/
I fixed it in the description as well :)
I never thought LLCs were so funny!
Can't I purchase property with my RLT first and then create the LLC owned by my trust and then transfer the property to the LLC from the Trust? Issue is the time it takes to create an LLC, not knowing if you will truly acquire property in another state until the bid is accepted/contracts signed/auction won.
One thing you might want to consider there is privacy - you bought it in your name and then it got transferred to the LLC... if the property is bought by your private LLC which is asset protected there is less change of someone finding your name in the public record.
For #7 what's the solution in order to protect from that situation? Thank you in advance.
Exactly! There's another 'Tuber who pours on the folksy southern charm recommending Wyoming LLCs for asset protection with the specific implication that this goes both ways (i.e., will protect your LLC's assets from personal life pecadillos). This really should have been #1, since I've heard a LOT of incorporators seeking this specific protection and using it as their primary motivation for starting this whole endeavor.
Hi Mark, I need to get my taxes caught up and set up a business structure for my real estate investment goals. Who should I schedule first? The accounting side or the legal entity formation side?
HMMM good question
Ask both. CPA and Atty may agree on the proper sequence. A simple call will give you some indication.
@@shirlzitting647 More yes, incredible what person to person communication reveals in regards to competence, especially I. The Cowboy Ego South❤️🩹🤠 Multiple Attys. For Estate/will trying to avoid 'inlaws" bogus interference contest with increase in fiscal discovery/forensics. Able to do basics myself, but the probate date got missed due to death of Representative. Years of Angst, but still.🍀
So a buddy of mine and I are going to be partners in a hotshot hauling business. How could we set that up to optimally protect our privacy and our assets. We have a business name in mind we would like to operate under but would like to have a holding company as well that owns our vehicles, trademarks, trailers, etc. How should we set it up?
The "holding company" structure is more often used as a parent entity to hold other subsidiary entities, not necessarily "holding" trade or business assets.
I am 77 and want to buy 55 plus active adult property which my family does not allow me to as I am married and wife won’t sign as she wants more expansive property. Is there a way I can buy after creating an LL C ?
Wrong State Question?????????????? I own rentals in a different state than I live in. My LLC is set up in the state I live in, not the state where the rentals are located. Do I need to fix that?
Mark, what do you mean Articles of the llc. What if don't have them?
Mark will you guys please help me and my daughter clean up this big mess we have made. It cost us more in taxes with a LLC to run our company than we pay in buying products. I think our LLC is set up wrong
Why directly to an S-Corp rather than an LLC taxed as an S-Corp.
I sure wish you’ll would say what you advertise for. So much silliness it is hard to get anything out of your program. Suppose you have investment property in 10 states. Does that mean you need LLC in each of 10 states?
Damn I can almost SMELL that tension it's so strong.
@♜ Mark. J Kohler • • lol nice try