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Started By
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Should my friend get an LLC
Posted on 1/23/16 at 4:47 pm
Posted on 1/23/16 at 4:47 pm
(no message)
This post was edited on 3/9/16 at 1:38 pm
6
Posted on 1/23/16 at 4:51 pm to LigerFan
wouldn't hurt.
If someone gets a splinter they won't be able to take his house.
If someone gets a splinter they won't be able to take his house.
Posted on 1/23/16 at 6:02 pm to LigerFan
Yes, the small cost now may save his arse later.
Posted on 1/23/16 at 8:10 pm to LigerFan
I would.
Posted on 1/24/16 at 6:21 am to LigerFan
The main purpose of an LLC is to protect considerable assets in the case of a legal suit.
If your friend has no significant assets, then no lawyer will go after him no matter how bad he screws up.
But I think an LLC is a good idea anyway in case his business takes off and he ends up with $$$.
It is very easy to do in Alabama. I just downloaded a form and signed it and took it to the courthouse. Cost less than $50 I think.
If your friend has no significant assets, then no lawyer will go after him no matter how bad he screws up.
But I think an LLC is a good idea anyway in case his business takes off and he ends up with $$$.
It is very easy to do in Alabama. I just downloaded a form and signed it and took it to the courthouse. Cost less than $50 I think.
Posted on 1/24/16 at 9:12 am to LigerFan
The basic premise of LLCs are to provide the limited liability of a corporation while still being a sole proprietorship (sounds like your friends situation) or a partnership from an operational and tax perspective. I think it is definitely a good idea from a cover your butt perspective.
Forming an LLC in LA is quite easy, and he should be able to form the entity relatively quickly and easily. With that said, he may want to consult an attorney that will help walk him through the steps of putting everything together and drafting an operating agreement, etc. In addition, he can find more information on the Secretary of State's website.
Forming an LLC in LA is quite easy, and he should be able to form the entity relatively quickly and easily. With that said, he may want to consult an attorney that will help walk him through the steps of putting everything together and drafting an operating agreement, etc. In addition, he can find more information on the Secretary of State's website.
Posted on 1/24/16 at 10:42 am to LigerFan
Yes. Do it. Now.
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