Thinking About Forming an LLC as a Holding Company? 4 Things to Consider...
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- เผยแพร่เมื่อ 23 ก.ค. 2024
- Thinking About Forming an Umbrella LLC? 4 Things to Consider... //
Are you interested in forming an LLC as a holding company for your online businesses?
Today I’m going to share with you 4 tips that will help you decide how and when you need to form a holding company for your online business. I’m going to start by reviewing what a holding company, also called an umbrella LLC is, then we are going to talk about the main benefits of forming a holding company, the common mistakes people make when forming a holding company, and then we will finish up with some guidance on when you should form your umbrella holding company.
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Click here for an operating agreement template that you can use for your LLC: gumroad.com/l/operating-agree...
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James W. Hart
The Hart Law Firm, P.A.
1143-B Executive Circle
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#umbrellaLLC #holdingcompany #hawthornlaw
I stopped cooking to say... THAT BEAT SLAPS! 😂💪
RIGHT! 🤣🤣🤣
Shockingly goes hard.
I'm sorry but I started dancing!!🤣🤣🤣
It does! 😂
😂😂😂
Can we take a moment to appreciate this man's taste in music?
Ikr. That intro beat was 🔥
I’m grateful to live in GA where an LLC is only $100 and $50/annually to renew. Thank you for this info
This is just very helpful, thank you so much for the free info.
This has been so helpful with feeling more confident in business decision-making. You are so great!
Great commentary. Thank you for sharing your knowledge!!
Great Information! Thank you learned a lot!
Thank you. This is very good to know.
This has been a very helpful video, I was wondering how to structure what I want to do... Thank you, I'll be in touch with your Company!
Good high-level subject matter coverage. We subscribed to this model from inception of several business with some or no overlap with the others. We wanted a clean legal path to fund one enterprise using proceeds from another so that all can feed new ventures and philanthropy. Your content delivery style should provide years of value to your channel and consumers. Good stuff.
I found your video very informational, thank you very much!
Very helpful info. Thanks!
Excellent video! I really appreciate this!
Thank you, this confirmed for me questions I had when it comes to taxes. I knew as a single member LLC it's a disregarded passthrough entity, I just wasn't sure how the IRS would look at it if it was owned by another business. Thank you. Perfect.
Thanks Jim! Very helpful..
Thank you so much for the informative video.
I’m getting this. Thank you.
super helpful, love the music
Thanks, this was very helpful. I was about to setup a holdings LLC way before i needed one. Thx for saving me the hassle of having to worry about it. 2 thumbs up!
Thank you sir, very helpful
This is gold thank you so much. I am learning so much. I am definitely going to reach out to your firm to help me with my business.
Hey Queen Rant, any luck reaching out to them?
He's the right amount of dork and intellectual.
I subscribed.
Thank you kindly for the info (I'll be back).
Very clear. Thank you
Great info💯🎯
Great video!!!! Good info
Love that intro music!
yes that made sense. Thank you!!!
On an upcoming video can you explain DBA. Having one LLC umbrella several other companies. Please and Thank you.
Thanks for the very helpful video.
you're welcome!
Great info
I really your deliverance of the information….you speak very direct and clear. You also show on the white board how the business structure suppose to look.
you are so good!
This is great! Thanks for doing this. I'm interested in learning about funding strategies for the (single member LLC) holding company and how to allocate the expenses of the subsidiary LLCs (some are single member LLCs and some are not but all are owned by the holding company.)
Great work!
Great stuff thank you! I am interested in learning more about the process of converting a simple sole proprietorship to an LLC and how you move the assets into the LLC? Also the tax implications of doing so....Not sure if that is more of a CPA question
Thank you for answering Myles question and thank you Myles for asking the question.
From what I have learned from searching about "registered agents", you/we don't have to pay for an agent, you/we can claim our self as the agent and it don't cost us anything.
Most of the people that follow this channel are online entrepreneurs who travel, work from places other than home, etc. If you aren't working somewhere that you can accept service during normal business hours, you should have a registered agent.
This is great
Great video! Fabulous information! It's interesting to think how CPA's might feel on this topic compared to attorneys.
Thank you!
Great video. Thanks for putting that information out there. Wondering is it hard to change the status of an existing LLC and convert it to being under an umbrella LLC. Thanks in advance, Nick
Greatly appreciate the powerful info. Would love a video explains LLC V.S. S Corp .
Jim this is good stuff. It is tough when the non blinking eye of the camera provides no feedback. Keep up the great work.
Dude thank you so much! This is what’s easier if the best well structured videos in the concept. Other videos are exciting and interesting but the point to their $1000 one time one hour consultation that small fries joe is NOT gonna pay for.
Thanks Jim!
You’re welcome! Great question!
u have the toughest intro for ur field lol love ur content
Points for the Browns helmet on the shelf. Great tip! O.H.
Thank You!
@1:20 Thank you Myles, twas my exact reasoning for searching TH-cam today. Thank you HL for the vid!!! and like +Ladon said, that beat absolutely Slaps! 🤣🤣🤣
"I'm getting this" haha Thanks!
O-H... YOUR CUP SOLD ME ON HITTING THE SUBSCRIBE! GREAT VIDEOS THANK YOU! ....I-O!
Thanks for the video! I have an LLC that I created to hold copyrights and domain names, but it sounds like eventually I might need to put the sites off on their own and have a holding company
You’re welcome!
Thanks Be Very Well Always
Great info! We have a farm and produce items on site. I’ve heard we should have separate LLCs for business equipment, farm equipment, land, etc. to protect us. Does your info show this works? Thanks!
Terrific info Mr. Ohio State 😁👍
Hey can you make a video on structuring multiple businesses, leases and lease backs??
Very helpful. Could you make a video of the organization structure that you like to use to keep all your files in order?
So much good info as usual!!! Can you form a Holding company retroactively to hold existing LLC's you already own?
Yes. You would need to transfer your ownership of the existing LLCs to the new parent LLC.
Hello, I found your videos to be helpful for me as a general information. Thank you!
Can I,,Alex,, be registered agent for all 3 LLCs and manage them? Or I should hire an agent?
If my #1 company is LLC taxed as S corp, should I elect to be taxed as C corp to make it a holding company?
Hey this a great vid! If you trade stocks for a living (technically an investor not a day trader), should I do it through an llc? I don’t really do advising so there isn’t much liability but it would be nice to pay into social security which you could do as a business right?
That beat slaps! Damn!
Getting this...
Great video! can the subsequent subsidiaries formed use the age of the holding company to appear as a “seasoned “ business?
Good video as always. Very helpful. I would prefer real white board though where we could see you writing on the board. Thanks again. :)
Great info! How does the money flow? If I want to personally contribute to the operating company do I need to sign a resolution and then send that money to the holding company and from there sign a resolution and send that money to my operating company and vice versa?
It was a good informative video... give it 5 stars after I saw the Ohio state mug
Thank you. Can you discuss member managed or manager managed LLCs in regards to the umbrella LLCs?
Would you happen to know how to create an LLC in Puerto Rico? Thank you for the content!
Great video...It was so informative that I clicked the subscription button.
I do have a question. I have an IT Consulting company that I started but it isn't generating any revenue yet but I am working on an app that will launch soon but I would like to know if I should create a DBA or another LLC?
ABC is the company name but EZN is the app......
Full of valuable content. Thank you. I had a question, I set up an LLC in NY but now I’m moving To another state. What is the easiest way to go about it. Make my NY LlC the holding of a new LLC in the new state or register my LLC as a foreign LLC?
Hello I love your content. Great advice. I have my llc for year. Can I form operating company with this llc or is it too late?!
Makes sense
Question,
I have “RAYCARPIO” registered as a Fictious-name / DBA.
Am I able to create “RAYCARPIO LLC” (not the umbrella LLC) & have the DBA underneathe that to get that liability protection?
Hi, thanks for the info. What about a Limited Partnership as the holding company. Why would you recommend one over the other?
Your appreciated
Is that Cleveland Browns helmet in backround. If so amazing
what's your take on parent companies? Do you think its more beneficial to have a parent company that has divisions and once they start generating cash branch out into their own llcs? or do holding company strategy then form another llc for operating each one like the example in the video ?
Superhelpful, Liked & Subscribed!
Question: I travel full time, I have no physical address. I am in the states usually less than 30 days per year. What would be the best state for a "digital nomad" type of Serial Entrepeneur?
I love this holding company framework.
What do you do?
Jim, thanks for the great video! Question: Can I use one business bank account (as holding company's account) for all LLCs revenues? Or it's better every LLCs has its own account? Problem is there's always a hard pull on credit when opening bank account. More LLCs means a lot hard pulls. For those real estate investors have high mortgage debt/income ratio, it's hard to keep good credit scores already.
Best practice is yes - have a separate bank account for each LLC. I'm not sure what the rules are regarding having your credit pulled. This is the first I've heard of that - credit cards will require that, but I'm not sure about bank accounts.
@@jimhart Wow, so owning a big umbrella LLC must have to manage tons of accounts...lol I'll definitely check with bank if credit pulled before opening business account. Thanks for the reply!!
@@jimhart Just FYI regarding my question. I just opened new business account. Unlike new credit card (hard pull), I was told this is a soft pull. The credit score will drop 2 or 3-ish points only unless over-withdrawn happens (it'll drop significantly if over-withdrawn). And, it shall bounce back real quick when business is on the right track.
Question - can you start an operative llc and then turn it into a holding llc? or that I must start a holding llc + operative llc right at the beginning? Thank you so much for the video btw
Where should the income go? How does the income flow up to the parent company for "safe" keeping?
I have a similar situation except that my businesses are not online. I have two companies that I sell and am 1099 for each. The third will be an actual business. All are home based.
Hi Jim, Quick question about what you discussed in this video. Is it possible to create one holding company LLC with a few dba's underneath the holding company BUT each dba have their own seperate EIN? It would be advantageous to me if this is possible.
Question, do I have to own 100% of the LLC to be able to place it under my holdings umbrella?
*Question:*
Is money considered an asset and if so would you be able to hold it in the *_Umbrella LLC_* and not have to worry about it being taken???
_I guess after you flow it through from the _*_Operating LLCs_*_ is that money safe..._
Ohio State eeeh... Thanks for your info helps me plan.
Question: Can I still use word HOLDING (ABC Holding LLC) If Holding LLC has several DBA under or not? And if the same principal of bank accounts and Accounting apply for this model or Can I just use the holding LLC Bank account and Books for DBA?
Can you explain what it means to have a branch or division of a company and the benefits to having those over a an umbrella company or vice versa?
What do you put down as the purpose of the holding company? Since there are very different types of services under it.
Good afternoon. Thanks for the info. I have set up my LLC holding company through your link. I am now in the process for setting up my actual business LLCs but the info on the EIN form is asking for my personal SSN, rather than the EIN from the holding company. Is this accurate? Thanks!
You suggested that all LLC's should be formed in the state that you reside. If I have an rental property in WA but I live in ID, should I create both LLC's in ID since you suggest that we create LLC's in the state that we?
It seems that my holding LLC could be in ID and my operating/series LLC could be in WA since it would run the rental property.
Would I change my holding LLC if I move to another state?
Should I appoint a nominee for my manager managed wy holding company to keep my anonymity?
@HawthronLaw Do you only use the holding company's ein when building credit or do you have separate ones and have to build credit for each entity ?
Good question. Did you find the answer to this question?
Go BLUE !
Do you have to create the parent company first or can you create it later and transfer ownership of the subsidiary after
What do I need to do for each of the brands that I add to the umbrella LLC? Where do I put the dba'? so confused..
can you make an example for starting a holding LLCs that has 2 LLCs. one is a DJ Company & the other is a Recording Studio? Im still stuck and want to make sure im going to do this right. Both LLCs are based in the same address
If you have a Umbrella LLC can you still have liability protection if you have multiple dba subsidiaries (Non-LLC).
Can the income be used from LLC be used to form another asset LLC (real estate purchase)and avoid paying income taxes because money was not paid to sole proprietor??? Thank you 🙏
When the lawyer drop that basssss 😂
Go Tigers!