Omg Jim I love you❤ I been doing my research for some time now. And you just been making so many connections for me, throughout the video. 🎉 especially with your scenarios and examples. It just kept hitting me and I appreciate it so much. Great quality.
Hey Jim, I'm from NC and have my own LLC trucking company. I handle my own bookkeeping using Xero and HubDoc and file my own taxes but I was wondering if I should approach a tax preparer or an bookkeeping/accountant firm to go over my Xero account and file my taxes for me. I'd just like a professional that I can meet with once a quarter to self audit my Xero account and prepare my taxes for me. I've reached out to places online just searching small business accountants and they are all wanting to charge $500-800 a month to do everything for me and not just my taxes. I feel like I'm searching for the wrong thing. I'm just a single owner/employee with $250-350K in GROSS revenue and my expenses are very simple all cash based, no debts, loans, credit cards, etc. and don't find it necessary to need somebody to do all of that for me for that cost.
So at what point do you hire a registered agent because in my state Iowa I need a agent for the articles of organization. Once I have a agent I can continue to file The OA and Certificate of Organization. Then I can file the LLC because I need the agent and certificate to file the LLC. Oh my question is if I should just hire one first and foremost then file the rest? Help me understand the order of operation to filing OA/ CO/ LLC filing/ registered agent ect
The whole point of owning your own business is to avoid paying other businesses for nonsense 👍 a contract is a contract! Don’t need to add a middle man just to hand over money to file something or whatever. Each person sign a copy of contract and that’s it , you each then put in your own file cabinet and done ✅
Amazing how I plan to get an LLC for owning my first barbershop 💈 business and I have never been in the LLC situation before and I’m looking for the best way to be successful with it but don’t know how to go about it the right way and what to do first.Awesome advice.
I appreciate your good work: however these question still bother me. 1-If someone is the primary resident of Maryland and wants to get LLC registered in Delaware, is it illegal or against the state law, not to register it as a foreign entity in MD? 2-How the LLC and his personal income from that LLC will be taxed? And 3- how to avoid double Taxation? Please answer these questions!!! Thank you
The issue with dba's is that its connected to your social security card and personal address. With that said, you do have 2 options. 1. Get a Surety Bond for your type of service. These should help you pay for any damages too your clients. 2. A written agreement created by a lawyer. This agreement should include business and client guarantees and actions. Include surety bond info. Please consult your lawyer on these matters first.🫡
If the registered agent is receiving your mail, do you also need to set up a virtual address as well? Or can the RA address be used as the LLC address?
Question about virtual address and registered agent: if both are avenues to receive mail, why do I need both? Can you clarify the differences, please? Thanks!
Registered agent CANNOT be virtual. And you don't send mail to your registered agent. The registered agent is for legal correspondence and due process only.
No it’s recommended to start an llc in what every state or country u live in . Your not gonna save on taxes eventually you’ll get screwed if u try and start an llc in Delaware
Thanks for the vids. They often answer little nagging questions I have, and questions I never asked. As a new novelist, I want to set up an LLC before I start publishing, but not sure what I need to do specifically. Was wondering if there are specific things authors/publishers need to set up that would differ from other businesses. Also, with so many people now mobile and able to relocate without issue (or wish to live in another country somewhere in western Europe), is there an ideal state for setting up an LLC for an independent artist willing to reside in that state? Nevada seems best, but that state fee is just so high.
Ive watched a few of your videos. How much of this will apply to small business not so much on-line. If ñot you is there someone you would recommend for my start up legal reference? Thank you. Very relatable video.
I'm not in the state but can LLC work in South Sudan as well let me know before taking it into consideration as an important business entity in my country
Very helpfull!. I do have a few questions. I am not from the US. Is it ok for me to use an address from a friend or family member instead of paying for the address services someof the sites provide. I don't see anything going wrong but what if something does go wrong are my friends or family members at risk seeing that I used their address? And also, Incfile for example helps you with business banking, do you know which bank? Because I heard that you physically need to be in the US for opening bank accounts.
I watched a lot of your videos about forming an llc and you always say online business I want to do a mobile detailing and lawn care business can you do a video about a non online business llc?
Hey Jim! Great Content! Been binge watching a lot recently, soaking up your knowledge and I hope you respond... but I'm in a little conflict with residence at the moment.... my question is... I'm currently Deployed and have an address, BUT it's not in my home state (NC) and do not own a home anymore in NC, at this moment. Could I use a Families address "temporarily"?? What do you think I should do as far as using a "business address?" Can it be changed once I own a home again? Thanks in Advance
Hey Jim Great videos Very informative Learned a lot Do you only provide service for online businesses- Not a single member LLc that provides healthcare?
Wondering if we need an LLC. Have 3 rental properties and opening a thrift store at end of Aug. can I get your expertise? My husband does all the maintenance on rentals and we both will work the shop.
Ok, but you only offers services continued. Do you have one time service to do what we want? What I understand, it’s a kind of subscription. Correct me if I’m wrong.
So at what point do I hire a registered agent. As I'm creating a OA a articles of organization? Or once I'm done with those and filing the LLC ? Because to continue I need a agent. But idk at what point in the steps do I need to hire one
So, it wouldn’t make sense to form an LLC because, say, you’ve just got family that wants to pay you for services, but that you hopefully won’t be doing it long-term
80 bucks a month for virtual/forwarding mail service? Inexpensive. I must be really out of touch and got hanging out with the wrong crowd bc that's not all that cheap... excuse me "inexpensive" to me. You guys?
I think you are out of touch. No offense intended. If you are building a business and $80 a month is a problem then perhaps a job is a better option. Your overall startup expenses should be around $2,500-$5,000 when you consider software, legal expenses, product development, marketing, etc. Many people are under the false impression that starting a business is "free" - but that just isn't the case.
Good advice BUT don't lead people in the wrong direction. IF YOU advertise your company without an LLC or Trademark and someone sees the name anywhere and likes the name they can call SOS to see if the name does have an LLC or trademark. From there, they can technically steal that name. If i'm wrong please correct me.
@@jimhart How come when I called the SOS they gave me the number linked with the sos to verify whether that name was trademarked? was it to a different place then?
It’s offensive to refer to people’s hobbies as not a legitimate business if they intend on selling or providing services with that hobby. Many people want to form that LLC to protect themselves before they start selling.
Click here to sign up for our LLC Live Startup Workshop: hawthornlaw.net/workshop
Thank you. Such a transparent video to really think about if you are trying to set up your LLC . Wishing you the best in Portugal
Omg Jim I love you❤ I been doing my research for some time now. And you just been making so many connections for me, throughout the video. 🎉 especially with your scenarios and examples. It just kept hitting me and I appreciate it so much. Great quality.
You are so welcome
Super helpful. Thank you.
Great tips, especially the registered agent. Definitely didn't know the ramifications of making myself the registered agent.
Glad I watched this. I did not know about this registered agent every LLC is supposed to have. lol
its really Amazing . it help us to choose the best LLC formation service for our business.
Glad to hear that
Thanks for the info on a registered agent! I didn't know about this. My state only charges $35 a year. 👍
Glad to help
Hey Jim, I'm from NC and have my own LLC trucking company. I handle my own bookkeeping using Xero and HubDoc and file my own taxes but I was wondering if I should approach a tax preparer or an bookkeeping/accountant firm to go over my Xero account and file my taxes for me. I'd just like a professional that I can meet with once a quarter to self audit my Xero account and prepare my taxes for me. I've reached out to places online just searching small business accountants and they are all wanting to charge $500-800 a month to do everything for me and not just my taxes. I feel like I'm searching for the wrong thing. I'm just a single owner/employee with $250-350K in GROSS revenue and my expenses are very simple all cash based, no debts, loans, credit cards, etc. and don't find it necessary to need somebody to do all of that for me for that cost.
So at what point do you hire a registered agent because in my state Iowa I need a agent for the articles of organization. Once I have a agent I can continue to file The OA and Certificate of Organization. Then I can file the LLC because I need the agent and certificate to file the LLC. Oh my question is if I should just hire one first and foremost then file the rest? Help me understand the order of operation to filing OA/ CO/ LLC filing/ registered agent ect
@@criticalmoment3859 thank you for this distinction, I understand now.
The whole point of owning your own business is to avoid paying other businesses for nonsense 👍 a contract is a contract! Don’t need to add a middle man just to hand over money to file something or whatever. Each person sign a copy of contract and that’s it , you each then put in your own file cabinet and done ✅
8:00
9:02 Business Address
11:28
14:50 Operating Agreement
Thank you for putting this content out there
Amazing how I plan to get an LLC for owning my first barbershop 💈 business and I have never been in the LLC situation before and I’m looking for the best way to be successful with it but don’t know how to go about it the right way and what to do first.Awesome advice.
I appreciate your good work: however these question still bother me.
1-If someone is the primary resident of Maryland and wants to get LLC registered in Delaware, is it illegal or against the state law, not to register it as a foreign entity in MD?
2-How the LLC and his personal income from that LLC will be taxed? And 3- how to avoid double Taxation?
Please answer these questions!!!
Thank you
I'm excited about this workshop. So glad I found you.
Have any videos on dba “doing business as” for a sole proprietor? Also legal pages to protect my blog without having a llc?
The issue with dba's is that its connected to your social security card and personal address.
With that said, you do have 2 options.
1. Get a Surety Bond for your type of service.
These should help you pay for any damages too your clients.
2. A written agreement created by a lawyer.
This agreement should include business and client guarantees and actions. Include surety bond info.
Please consult your lawyer on these matters first.🫡
Jim if I live in FL but have a rental property in NC, does it make more sense to register my LLC in NC instead of FL?
Ras House Music 🎶 Laborie Beach ⛱️ St Lucia
Can you change your address at a later date?
where should i file if im an out of state first year college student? my home state or my school state?
Good question. How serious is your business?
Hi Jim are you enjoying Portugal?
If the registered agent is receiving your mail, do you also need to set up a virtual address as well? Or can the RA address be used as the LLC address?
Depends on the RA. Some will - but you need to make sure that is included in the service.
Question about virtual address and registered agent: if both are avenues to receive mail, why do I need both? Can you clarify the differences, please? Thanks!
Registered agent CANNOT be virtual. And you don't send mail to your registered agent. The registered agent is for legal correspondence and due process only.
Got it. Thank you!
5:30 Hi Jim, I am non-US citizen and based outside of the US. Is it recommended to form an LLC in Wyoming, Delaware or Nevada?
No it’s recommended to start an llc in what every state or country u live in . Your not gonna save on taxes eventually you’ll get screwed if u try and start an llc in Delaware
Yes, but he said he is based outside of the US. In that situation, you can typically pick whatever state you want.
Thanks for the vids. They often answer little nagging questions I have, and questions I never asked. As a new novelist, I want to set up an LLC before I start publishing, but not sure what I need to do specifically. Was wondering if there are specific things authors/publishers need to set up that would differ from other businesses. Also, with so many people now mobile and able to relocate without issue (or wish to live in another country somewhere in western Europe), is there an ideal state for setting up an LLC for an independent artist willing to reside in that state? Nevada seems best, but that state fee is just so high.
What did you end up doing as a novelist/author?
Ive watched a few of your videos. How much of this will apply to small business not so much on-line. If ñot you is there someone you would recommend for my start up legal reference? Thank you. Very relatable video.
A lot - business is business whether you are online or offline.
question about a registered agent. Is this something I can change later and will it be a fee.
Is it ok to put an LLC on your primary residence and use another state for the LLC
Why would you do that?
Thanks Jim.
question--Is legalinc no longer in service? it directs us to incfile..
Yes. I'm in the process of re-working my pricing with them. But I'm also a fan of incfile. You can use this link: hawthornlaw.net/diy-llc
Hi，Jim!
How can the article of organization of LLC show that LLC is owned by the Trust?
Thank you!
I'm not in the state but can LLC work in South Sudan as well let me know before taking it into consideration as an important business entity in my country
I don't know - I don't practice law in Sudan
Very helpfull!. I do have a few questions. I am not from the US. Is it ok for me to use an address from a friend or family member instead of paying for the address services someof the sites provide. I don't see anything going wrong but what if something does go wrong are my friends or family members at risk seeing that I used their address? And also, Incfile for example helps you with business banking, do you know which bank? Because I heard that you physically need to be in the US for opening bank accounts.
Do you have a tax ID number in the United States?
I watched a lot of your videos about forming an llc and you always say online business I want to do a mobile detailing and lawn care business can you do a video about a non online business llc?
Thanks much for ur information…I hv a question..Can u hv a virtual mailbox??
Yes you can
what if I'm trying to manage and promote new talent "artist? what are my steps
Are you starting an agency?
Thank you for being so direct and informative!
Hey Jim, what should I do if I’m gonna do short term rentals in other states as well as the one I live in.
Is this just for online businesses or can I do these steps for the business I want to set up. (Painting business)
What’s a fair cost to have an attorney setup an LLC?
Here's my page: hawthornlaw.net/services
Do you work in Texas? @@jimhart
Hey Jim! Great Content! Been binge watching a lot recently, soaking up your knowledge and I hope you respond... but I'm in a little conflict with residence at the moment.... my question is... I'm currently Deployed and have an address, BUT it's not in my home state (NC) and do not own a home anymore in NC, at this moment. Could I use a Families address "temporarily"?? What do you think I should do as far as using a "business address?" Can it be changed once I own a home again? Thanks in Advance
Hey, Jim! Do I need an operating agreement if I own the business alone?
I would say yes.
Hey Jim
Great videos
Very informative
Learned a lot
Do you only provide service for online businesses-
Not a single member LLc that provides healthcare?
Wondering if we need an LLC. Have 3 rental properties and opening a thrift store at end of Aug. can I get your expertise? My husband does all the maintenance on rentals and we both will work the shop.
Yes you do!!!
Do I need to Get an business permit before Getting an LLC
Hi Jim Do you offer any service to trade mark our name/brand and courses name? Tks.
Yes! Visit hawthornlaw.net/services
Ok, but you only offers services continued. Do you have one time service to do what we want? What I understand, it’s a kind of subscription. Correct me if I’m wrong.
Yes I use legalinc and they're not expensive and worth it
So at what point do I hire a registered agent. As I'm creating a OA a articles of organization? Or once I'm done with those and filing the LLC ? Because to continue I need a agent. But idk at what point in the steps do I need to hire one
Jim do you recommend an LLC for an online Amazon ebook small business?
can u talk about how to open a business bank acct, they require physical address
Yes definitely need this
Moving to Portugal? Why???
I'm in Wyoming and it doesn't allow a PO box
Every state has different rules - but are you referring to a business address or a registered agent address?
Iaccountant?
So, it wouldn’t make sense to form an LLC because, say, you’ve just got family that wants to pay you for services, but that you hopefully won’t be doing it long-term
What kind of services? It depends.
80 bucks a month for virtual/forwarding mail service? Inexpensive. I must be really out of touch and got hanging out with the wrong crowd bc that's not all that cheap... excuse me "inexpensive" to me. You guys?
I think you are out of touch. No offense intended. If you are building a business and $80 a month is a problem then perhaps a job is a better option. Your overall startup expenses should be around $2,500-$5,000 when you consider software, legal expenses, product development, marketing, etc. Many people are under the false impression that starting a business is "free" - but that just isn't the case.
Right on. @@jimhart
@@jimhart Well I myself didn't think it would be free. I just didn't think it would be so darn expensive. I stand corrected now. Thanks.
Pretty good info. Need clarification on multi partner ĹLCs
Skreddy
Do you have a video for LLC for nonresidents?
80 bucks
👍
Good advice BUT don't lead people in the wrong direction. IF YOU advertise your company without an LLC or Trademark and someone sees the name anywhere and likes the name they can call SOS to see if the name does have an LLC or trademark. From there, they can technically steal that name. If i'm wrong please correct me.
You are incorrect. The SOS cannot state whether you have a trademark.
@@jimhart How come when I called the SOS they gave me the number linked with the sos to verify whether that name was trademarked? was it to a different place then?
It’s offensive to refer to people’s hobbies as not a legitimate business if they intend on selling or providing services with that hobby. Many people want to form that LLC to protect themselves before they start selling.
I’ve thought about just paying LegalZoom. Do you have any experience with that service?
Not my fav. What do you need help with?