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Best way to start an LLC?
Posted on 11/22/22 at 12:23 am
Posted on 11/22/22 at 12:23 am
I have to open an LLC for my “new” job. I know most of you OT ballers probably have them. What are the best and quickest ways to start one?
24
Posted on 11/22/22 at 12:25 am to Dale Murphy
Depends on what state. In MS, it's as easy as completing a simple online app with the SOS and paying about $50.
This post was edited on 11/22/22 at 12:26 am
Posted on 11/22/22 at 12:27 am to Dale Murphy
Posted on 11/22/22 at 12:36 am to Dale Murphy
Pick a name not previously used and pay the registration fee.
Posted on 11/22/22 at 12:58 am to Dale Murphy
fill out the paperwork
Posted on 11/22/22 at 1:29 am to Dale Murphy
After that get tax ID and then open business bank act. Even if you don’t use it, it has benefits after two years.
Posted on 11/22/22 at 1:34 am to Dale Murphy
Family land? You'll want an LLC.
Posted on 11/22/22 at 1:48 am to Dale Murphy
file the paperwork - if you want legal advice hire an attorney
Posted on 11/22/22 at 1:53 am to Dale Murphy
First, you make a roux
Posted on 11/22/22 at 4:27 am to Dale Murphy
How about “Mazzone Rocks, LLC”?
Posted on 11/22/22 at 4:53 am to Dale Murphy
quote:
I have to open an LLC for my “new” job.
What kind of job requires you to open an LLC? Is this a company you're starting?
Posted on 11/22/22 at 5:07 am to Dale Murphy
Rozy Finch Boyz… taken.
This post was edited on 11/22/22 at 5:11 am
Posted on 11/22/22 at 5:52 am to Dale Murphy
In LA:
Option 1: Call lawyer, pick name and they'll check it in the database, have them draft Articles and Operating Agreement based on your needs, pay and done.
Option 2: pick name, check it in sos database, draft your own articles and OA, pay and done.
Depending on how complex you want the entity to be for tax/business purposes, or if its going to be part of a chain of LLC's/Trusts/partnerships/etc. will give you your best answer. For a sole prop./disregarded entity LLC it probably isn't a big deal to do it yourself.
Option 1: Call lawyer, pick name and they'll check it in the database, have them draft Articles and Operating Agreement based on your needs, pay and done.
Option 2: pick name, check it in sos database, draft your own articles and OA, pay and done.
Depending on how complex you want the entity to be for tax/business purposes, or if its going to be part of a chain of LLC's/Trusts/partnerships/etc. will give you your best answer. For a sole prop./disregarded entity LLC it probably isn't a big deal to do it yourself.
Posted on 11/22/22 at 6:19 am to Dale Murphy
My tax accountant did all the work. Paid her $500.
Pro tip- get a checking account and credit card for your LLC. Keep everything separate. EVERYTHING.
You’re going to be amazed at what you can charge to llc and the deductions at the end of the year. Not necessary, but I use QuickBooks to track everything.
Makes it way easier at tax time. Good luck.
Pro tip- get a checking account and credit card for your LLC. Keep everything separate. EVERYTHING.
You’re going to be amazed at what you can charge to llc and the deductions at the end of the year. Not necessary, but I use QuickBooks to track everything.
Makes it way easier at tax time. Good luck.
Posted on 11/22/22 at 6:50 am to Dale Murphy
Posted on 11/22/22 at 6:53 am to Dale Murphy
The Geaux Biz site of the LA SOS makes it easy as hell.
Posted on 11/22/22 at 7:32 am to Dale Murphy
quote:
Best way to start an LLC?
You should definitely post on TD and ask
Posted on 11/22/22 at 7:56 am to Dale Murphy
One thing to note is if this LLC is to be filed in LA that LA is one of a handful of states that require single-member LLCs to file annual reports, which ultimately is just $30 of revenue for the state for each LLC. You need to file every year prior to your anniversary date or you drop out of "good standing" and after 3 years your LLC is revoked. Not filing is an easy way to allow someone to pierce the corporate veil.
LLCs are easy to incorporate but slightly more difficult to maintain. If you don't maintain them properly you are wasting your time, the three main reasons small LLC get pierced are failure to follow corporate formalities, failure to maintain separate entities of the company and owner (shareholders), and fraud/wrongdoing. Understanding this is one reason I would recommend getting an attorney to help you initially so that you understand what you need to do going forward. I am not saying a person of average intelligence can't figure this out on their own but using an attorney at least initially prevents making unwitting errors and losing your LLC status when it actually means something.
LLCs are easy to incorporate but slightly more difficult to maintain. If you don't maintain them properly you are wasting your time, the three main reasons small LLC get pierced are failure to follow corporate formalities, failure to maintain separate entities of the company and owner (shareholders), and fraud/wrongdoing. Understanding this is one reason I would recommend getting an attorney to help you initially so that you understand what you need to do going forward. I am not saying a person of average intelligence can't figure this out on their own but using an attorney at least initially prevents making unwitting errors and losing your LLC status when it actually means something.
Posted on 11/22/22 at 8:08 am to Dale Murphy
Geaux Biz makes it about as simple stupid as possible.
Posted on 11/22/22 at 8:10 am to Dale Murphy
Name it "RTWFY LLC"
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