It's worth mentioning that in some US states, owners of single-member LLCs are not afforded asset protection, so you may need for form another kind of entity. It's also worth mentioning that owner-managers of businesses held in any entity type can still be sued individually for acts they take as a manager or officer of the business.
Hello! LLCs are required to make quarterly estimated tax payments based on their actual or estimated revenue for that quarter. At year end, you'd file a return and any over/ under will be settled at that time. So technically an LLC is not required to pay taxes in advance as quarterly payments would be made at a quarter end.
Hello! Yes absolutely, you wouldn't have to register as a separate entity unless you specifically wanted to. But if you are making money off of the publication, it would be better to have it set up as a business in order to gain tax advantages. I hope this helps!
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It's worth mentioning that in some US states, owners of single-member LLCs are not afforded asset protection, so you may need for form another kind of entity. It's also worth mentioning that owner-managers of businesses held in any entity type can still be sued individually for acts they take as a manager or officer of the business.
Thank you so much for this valuable information! I haven't heard from you in a while! Great to see you again!
Interesting information .. very rarely talked about.
Thank you!!
She is 2000 ×💯 % right, you loose everything if you are presonally responsible for your business....... sad but true!
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank as subscriber to this channel
My problem with LLC is you have to pay tax in advance? This is what I've heard, not sure if true?
Hello! LLCs are required to make quarterly estimated tax payments based on their actual or estimated revenue for that quarter. At year end, you'd file a return and any over/ under will be settled at that time. So technically an LLC is not required to pay taxes in advance as quarterly payments would be made at a quarter end.
IF I wanted to publish a newsletter or newspaper, could I argue I do not need to register etc as it is a constitutional right to speak freely?
Hello! Yes absolutely, you wouldn't have to register as a separate entity unless you specifically wanted to. But if you are making money off of the publication, it would be better to have it set up as a business in order to gain tax advantages. I hope this helps!
Hi Lena 👋. Should a real estate sales agent be a sole proprietorship or LLC ? Thank you 🙂
Hi Tom! Yes I believe an LLC would be best, more opportunities to write off business expenses.