Thank you for the information. Texas doesn't allow the conversion and they told me that I would have to withdraw or dissolve as you mentioned but I would lose my formation date which will not be good because most creditors or vendors would like for businesses to be in business for at least 2 years. So that is the con of transitioning to an LLC.
I have a question. Why not just register for an LLC when you initially set up your? You know, when you apply for your EIN. During your steps in starting your business?
I currently have a EIN# as a sole proprietorship, and recently incorporated my business as a LLC (same name, just add LLC at the end). Do I need to create a new EIN# or file a 8822-B or 8832 form with the IRS of the change?
Great info! You answered questions I didn't know I had. I closed my Owner/Operator Tucking business and got really lucky because it was a Sole Proprietar with a DBA. Do I need to formally close the DBA filing? As soon as I sell the truck I am going to start a different business as an LLC and will be watching your videos for more information and would like to contact you later for your costs of helping start it and your rates for helping with other questions. Thanks for sharing this information!
Thanks so much for creating these videos. we appreciate you’re time and energy on them. You’re TH-cam videos are helping to create smart entrepreneurs. Thanks for the free tips but I’m gonna pay you with a two thumbs up!!!! Thanks👍👍
What if you want to use an existing DBA under a new LLC that will have a different name than the DBA ? Will the EIN for that existing DBA need to be withdrawn and a new assigned so it matches the LLC’s EIN?
This has been one of the most helpful channels in my journey so far. I definitely had to hit the like button and subscribe. I would hire you but I don't live in Colorado haha
1. If I’ve already received an EIN under my DBA, would I have to request another EIN for the LLC. (Yes, my LLC name would be slightly different from the DBA name). 2. Also, can I have different business branch names, although totally independent of each other, under my LLC? ex: Hot Steppers Dance Company LLC but also Hot Steppers car rentals?
Hey Adrian! I have a medical billing LLC name but had stopped doing medical billing services. I have just been using its EIN to do other services such as 1099 doing ESL tutoring, Virtual customer service and etc other 1099 jobs. They don't seem to be in the same umbrella such as healthcare as my LLC. Do you recommend I register a different LLC/ ein?
Thank you so much! This gave me a structure I didn’t know I needed. I have finished steps 1-3 just wondering where the operating agreement comes in. Is that just a piece of paper I have on hand that has been notarized or is it something that I file with the state?
Hi. Thanks for your advice, I have question, doing business as I got a ein and i open a bank account, 2 days after I formed llc same name , can I still use same ein or do I get a new one on the llc nothing changed except llc Please advise me. Thank you.
Hello great info! My wife is going to move into an llc for her hair cutting salon. She and I are the only two running the business now. Will she file the llc as the sole person in the company, or are we considered separate employees even though we’re married? Thank you!
It REALLY varies a lot. You can expect to pay anywhere from maybe $500 all the way up to $1200+. More important, pay attention to what you're GETTING for the cost. A lawyer may charge $500 to form the LLC and draw up your paperwork and that's it, whereas you may be getting a lot more from the lawyer who charges $1200.
I have a question. I am in California and currently I operate under my dba and I am transitioning into small business. I have my ein number. Can transitioning to an llc or S corporation without getting a new ein number?
Start by asking your local insurance agents... make a list of the current and future activities that your business will engage in. Make the phone calls..
What if you have a DBA in your state but want to form the LLC in another state? Do you have to withdraw it or is it only of you forming LLC in the same state as your DBA
You could do a balance transfer for business charges on your personal card, I suppose. But I don’t think you can “transfer” the credit card to another person or entity. That would be a convo to have with the bank!
When naming your LLC, would it be rejected if you have same name but different industries including in the name. Ex: Google car wash vs google sport wear
That’s a great question and it depends a lot on your business and how much you care about protecting your personal assets/liability. It also really depends on your state and how easy/cheap it is. In some states it’s such a simple process, you might as well do it right away!
Wow, she really is back!
Thank you for the information. Texas doesn't allow the conversion and they told me that I would have to withdraw or dissolve as you mentioned but I would lose my formation date which will not be good because most creditors or vendors would like for businesses to be in business for at least 2 years. So that is the con of transitioning to an LLC.
Thanks. This info was helpful to me. I am in TX.
I love your content. Thank you for sharing all your knowledge
Hey! This was Great. When I switch my business can I keep the same EIN number attached to my DBA. ??
I have a question. Why not just register for an LLC when you initially set up your? You know, when you apply for your EIN. During your steps in starting your business?
I currently have a EIN# as a sole proprietorship, and recently incorporated my business as a LLC (same name, just add LLC at the end). Do I need to create a new EIN# or file a 8822-B or 8832 form with the IRS of the change?
Same here no answer yet
Great info! You answered questions I didn't know I had. I closed my Owner/Operator Tucking business and got really lucky because it was a Sole Proprietar with a DBA. Do I need to formally close the DBA filing? As soon as I sell the truck I am going to start a different business as an LLC and will be watching your videos for more information and would like to contact you later for your costs of helping start it and your rates for helping with other questions. Thanks for sharing this information!
Thanks so much for creating these videos. we appreciate you’re time and energy on them. You’re TH-cam videos are helping to create smart entrepreneurs. Thanks for the free tips but I’m gonna pay you with a two thumbs up!!!! Thanks👍👍
I’ll take it, thank you so much!!
Aiden you are the B E S T! Very Nice and simple info. Keep up the great work
If you got an EIN for a sole proprietorship can you use it now for a llc if you’ve yet to use the ein for anything?
What if you want to use an existing DBA under a new LLC that will have a different name than the DBA ? Will the EIN for that existing DBA need to be withdrawn and a new assigned so it matches the LLC’s EIN?
Thank you for your good information
This has been one of the most helpful channels in my journey so far. I definitely had to hit the like button and subscribe. I would hire you but I don't live in Colorado haha
1. If I’ve already received an EIN under my DBA, would I have to request another EIN for the LLC. (Yes, my LLC name would be slightly different from the DBA name).
2. Also, can I have different business branch names, although totally independent of each other, under my LLC? ex: Hot Steppers Dance Company LLC but also Hot Steppers car rentals?
Anybody?
Hey Adrian! I have a medical billing LLC name but had stopped doing medical billing services. I have just been using its EIN to do other services such as 1099 doing ESL tutoring, Virtual customer service and etc other 1099 jobs. They don't seem to be in the same umbrella such as healthcare as my LLC. Do you recommend I register a different LLC/ ein?
What if you have a DBA and an EIN?
Great information! Thank you so much!
Thank you so much! This gave me a structure I didn’t know I needed. I have finished steps 1-3 just wondering where the operating agreement comes in. Is that just a piece of paper I have on hand that has been notarized or is it something that I file with the state?
This was great Information. Will help me make that transition. Please keep the videos coming.
She always make videos with a lot information, thanks and please keep doing.
Thanks Aiden
Thanks for all your great advice
Thank you, Aiden! You're the best!
Thanks for the great info! Just what I was needing to hear.
Love these videos
If you have a trademark under a dba, what happens to it when you convert to an LLC?
Step 5: was a bit confusing. If you withdraw the DBA and file the LLC with the same name why do you need to close the business account?
Great video, great information!
Hi. Thanks for your advice, I have question, doing business as I got a ein and i open a bank account, 2 days after I formed llc same name , can I still use same ein or do I get a new one on the llc nothing changed except llc
Please advise me. Thank you.
Can you go back to just an Sole Proprietor/DBA and cancel out your LLC?
What a great name 🙌
Thanks for sharing!
What if I decide to transition from sole proprietor to LLC while my sole proprietor application is still in process? - New York County-
Very thorough thank you so much
Hello great info! My wife is going to move into an llc for her hair cutting salon. She and I are the only two running the business now. Will she file the llc as the sole person in the company, or are we considered separate employees even though we’re married? Thank you!
If I were to pay a lawyer to file a LLC for me,what would the typical going rate be? Thanks
It REALLY varies a lot. You can expect to pay anywhere from maybe $500 all the way up to $1200+. More important, pay attention to what you're GETTING for the cost. A lawyer may charge $500 to form the LLC and draw up your paperwork and that's it, whereas you may be getting a lot more from the lawyer who charges $1200.
@@allupinyobiz Can i use any lawyer even not in my own state?
I have a question. I am in California and currently I operate under my dba and I am transitioning into small business. I have my ein number. Can transitioning to an llc or S corporation without getting a new ein number?
Who is the payee on a DBA registered under a LLC?.
Aiden please can you tell me how i get liability insurence for my llc, it is only one member llc
Start by asking your local insurance agents... make a list of the current and future activities that your business will engage in. Make the phone calls..
@@voz2voz thanks
If you have an online school under A DBA and convert to an LLC does that mean you also have to get rid of the school and open it again with the llc?
What if you have a DBA in your state but want to form the LLC in another state? Do you have to withdraw it or is it only of you forming LLC in the same state as your DBA
Can I transfer personal credit cards that were used to buy merchandise to a new LLC?
You could do a balance transfer for business charges on your personal card, I suppose. But I don’t think you can “transfer” the credit card to another person or entity. That would be a convo to have with the bank!
What about to start as llc but still get DBA
Thank you
I wish you were in upstate NY.very informative.
So cute and smart thanks for the info !
Can put my name in Llc if I'm is a speaker?
and how much it going to cost me?
I have no clue, I don’t sell insurance! You’ll want to talk to an insurance broker about that.
@@allupinyobiz thank you
Can you use a UPS real street address to form your LLC? And will this prevent you from getting a business credit account ?
Not recommend
@@Cin_her yes it is recommended in fact most people do it.
Yes. You can nothing wrong with it.
How much does it cost
It depends.
When naming your LLC, would it be rejected if you have same name but different industries including in the name.
Ex:
Google car wash vs google sport wear
Probably not when you’re registering with the state. But maybe if you’re registering the trademark.
@@allupinyobiz got it, thank you
legend!
First
You win! :-)
At what point should I change my SP to a single member LLC?
That’s a great question and it depends a lot on your business and how much you care about protecting your personal assets/liability. It also really depends on your state and how easy/cheap it is. In some states it’s such a simple process, you might as well do it right away!