What is an LLC and How Does It Work? 6 INCREDIBLE Benefits

What is an LLC? And How does it work? I'm going to dive into the MOST Important things that everyone needs to know about starting or owning a limited liability company.
Book a Tax Services Discovery Call: schedule.lyfetaxes.com/discov...
Because look, having a legal shield that protects your personal assets is just scratching the surface of what an LLC is all about. So in this video, I will cover the most important details about an LLC that every small business and startup needs to know!
Timestamps:
What is an LLC and how does it work? (0:00)
#1 LLC Pitfall (2:25)
#2 Income and Pay for LLC Owners (3:40)
#3 How LLCs are Taxed (5:51)
#4 Business Credit (7:56)
#5 Raising Capital / Business Funding (10:45)
#6 LLC Costs (11:47)
Setting up an LLC (12:17)
LLC Disadvantages (15:00)
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Hey, I'm Sean with lyfe accounting. The accounting company that helps you save on taxes and build more wealth. Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

[@greenstarconcepts]

I swear, out of ALL of youtube....these are some of the most explained and direct videos out there. thank you for putting these videos out

[@globaldon7212]

Excellent! You earned my like and subscription Looking into having one soon.

[@tripham8817]

Amazing video. Great details with clarity.

[@beliamquintana3681]

I'm not sure anymore if I should do it or not, thank you for the information.

[@BrianaFranklin-zz8vk]

Thank you for this information

[@americanoutlaw7999]

Thank you for the information 🤠👍I love having gained knowledge sir. Appreciate everything you are doing

[@allsonnational]

Loved this video! Can you create a video of different business insurances ?

[@FinancialFreedomMadeSimple]

Great work!

[@llllllllllllllllllll474]

great video

[@tyrojames9937]

GREAT VIDEO!😁👔

[@paconaco2399]

are this informations still up to date ?

[@sunshine90ss]

Thank you so many questions about the payments. What if like contracted work like Keynote speaking or training for a conference

[@ToneRome6758]

Would love to learn more about this LLC

[@YasinNabi]

what an awesome channel and worth watching the first in the morning :) subbed ! a fellow creator

[@AshleSolace]

Can you talk about LLCs when I comes to claiming lottery winnings and how it protects you?

[@annenoralus4513]

Can businesses from different countries apply for an LLC or only American companies?

[@msmichelletoliver651]

Which is more protection for a real estate investor a LLC or a Land Trust?

[@jeremyrice2754]

Llc , he naming the benefits and protection

[@qul_alahiym]

When you speak on filing come taxes, do you mean with a 1099?

[@bigbobgrows1399]

I’m a general partnership llc but I’ve been paying myself as a w2 employee that pays payroll taxes, will what I paid myself as a w2 employee be a write off since I paid taxes on said $??

[@zeekwhyte6575]

🔥🔥🔥🔥❤️❤️❤️

[@rozenarobertson3014]

Good day can I also become a member of LLC because I'm staying in South Africa

[@generic_official]

What I hear all the time is how having an LLC is a good idea in case your business gets sued. What I never hear about is the likelihood your business will get sued. Statistically, what are the odds of getting sued?

[@greenstarconcepts]

say i own a lawn care company. i hit a car with the trailer im pulling. they will sue the company the trailer is under. some times people place multi LLCs on stuff to keep down the asset lost if they WAS sued too.

[@jimross2101]

@@greenstarconcepts Or, you or your insurance company pays for the damage. No lawsuit.

[@outlooktech2606]

I’m trying to start a roadside assistance business. Should I get an LLC?

[@Tropikha]

Your comment section is full of bots and it's too obvious😂

[@ragingbull12]

Are you a bot?

[@kenkay3277]

You talk too slow

[@shamimbegum7253]

1.5x speed
Very good video thankyou 🫶