How to Start a Holding LLC Company in 2024 [Step-by-Step]
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- Опубликовано: 23 июл 2024
- Here is the step-by-step guide on how to set up an LLC holding company or umbrella company in 2024. First off, you need to know that an umbrella company is basically a business entity that controls multiple businesses at once.
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Timestamps:
Joke Intro (0:00)
What is a holding company? (0:15)
Holding vs Subsidiaries companies (1:05)
Step #1 (1:30)
Step #2 (2:30)
Step #3 (4:09)
Should you start an umbrella company? (6:44)
This is part 2 of this video, "should you create an LLC holding company?" - • Should You Create an L...
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
Here is the first video on "Should you create an LLC holding company" - ruclips.net/video/KN_4eJrR62A/видео.html
If you can teach me how to use the Accural Method of Accounting n all the INs and Outs of it I will pay for your services. Like do u know what I'm saying on this n why I'm asking...
Is it necessary to obtain an EIN # from the IRS for a newly formed HOLDING (UMBRELLA) Company?
if umbrella company is llc can its subsidiaries also be llc?
Who’s watching in 2024?
Me I’m definitely watching it
you literally don't know how much I am grateful for this channel ... being a first gen this kind of info accelerates my journey to generational wealth !!! May the Lord bless you in everything your heart desires!!! much appreciation
I have yet to find an explanation of this process that is as thorough and easy to follow such as this video. Thank you for this content!
All this channel does is put out informative, pertinent & phenomenal content!🔥🔥🔥 No fluff, no irrelevant & most importantly, no time-wasting content. Thank You, Very Much, on behalf of all the Viewers & Subscribers!
WOW! It's an honor to be able to provide this information to you. We wish we had it when we started and just doing out part to help. More 🔥 on the way!
@@LYFEAccounting Can't wait, looking forward to continue learning. Also, I forgot to give your channel props for its consistency, which is the difference between good and great! Thanks, Again.
FACTS!!
Thank you so much for this information! I have been trying to find someone to explain how to form a holding company. Finally!! And well done!
This is great! I've been looking for how to put my existing llc under a Holding co. Some guy was saying it's better to dissolve that existing llc,create a Holding co,then create an LLC under the Holding co. U made it simple bro! Keep posting these wonderful videos! U got a subscriber!
I''ve been trying to find this information for so long. Thank you!!!
2 minutes in and exactly what I was looking for! Thank you!
Useful, informative, and helpful. Thank you😊
I LOVE THAT YOU TALKED ABOUT THE REVERSE SITUATION; HAVING A PREFORMED LLC TURNED INTO THE HOLDING LLC!!
Thank you 🙏🏽 so much for making this video! It definitely explained things but unfortunately I don’t think it will work as the right set up for me right now!!!… So, I definitely need you guys to do a video on “DBAs”… How to set it up? Where to set it up? What are the requirements? etc…All this searching and reading and deciphering the legal mumble jumble out there gives me a true headache 🤕 but you guys break it down so clearly!!! I honestly can’t wait to see where you guys go in the future!!! But in the meantime we will just keep supplying you guys with ideas 💡 for content.
This was amazing! Very lucid. Very informative.
This is awesome! Thanks for following up w the part 2
You bet! Thanks for your support :)
A on time topic for me ;Thanks so much for the highlight ...Have a wonderful day !
You are so welcome! Hope it blesses you
These Step-by-step videos are Gold! Thank you
From one Sean to another, I appreciate that haha. Thanks.
Thank you for this valuable, clear and concise information.
Thank you for breaking this down!
Very helpful! Thank you 🙏🏾!
very well explained -- other vids did not provide the finer details as you did -- thanks!!
Thoroughly put together
LITERALLY THE BEST BUSINESS CHANNEL ON YT
Thanks, Yahbrel! We love sharing this information!
Appreciate you LYFE Accounting! Thank you so much for sharing your financial literacy! Continue educating, empowering and inspiring you guys!
You are so welcome! & Thank you for supporting us 💯
Valuable information. Thanks
Love this! Great content
This helps. I currently have 3 LLC companies right now so I need to create a holding company (umbrella company) that these three will be under.
Good look on the info you but in a way easy to grasp 💯
Good info brotha, keep it up
Amazing! THANK YOU🙏
Thank you Lyfe Accounting! You're always pouring into us.
It's truly our pleasure and your support means the world.
And we will continue to! Thank you for supporting 💯
Thank you for the information young man...👍
This video is sooooo clutch!!!!
Thank you for the infromation. It was very useful.
Thank you. You explained Clearly
Amazing video filming and editing. Smooth talking, nice work!
Thanks a ton, Trevor!
i love your business jokes man😂 i really love your channel. extremely education and informational
Excellent information, thank you for sharing.
This is a great content, awesome and very important information, thanks
New subscriber here because this is so good and saved me hundreds ☺️
Great info!
Thank you for the video! What should I put as "Principal line of business" if my LLC is a holding company?
Dang, I learned so much in your video, great content!
Excellent topic. I have been thinking of this for a couple of years now but I wasn’t expanding at the time. This information is right on time for my business now. I appreciate advanced topics.
My question is how do I fix my current LLC because I have both personal income (W2) and expenses commingled with business income and expenses in my business accounts. I need to prep for asset and liability protection like yesterday 🙇🏾♀️
We appreciate the videos!
Our pleasure!
Excellent!!!!! Needed this info for additional legal protection
Great explanation!
Love, love, love LYFE Accounting videos. Questions, how can I make my current LLC my holding company instead of starting up a new LLC?
Watching 2024! Thank you for sharing
Great informative video! Question: if I wanted to create a parent company for an existing llc, how would be the easiest way to transfer the existing llc’s assets to the new parent company?
Thank you
Thank you for sharing
Thank You Sir💯🫶
Good job 👏🏿
Great video, sir!
Thank you kindly!
Thanks!!
New Subscriber. Appreciate the detailed explanation and easy to follow presentation.
Thanks for subscribing, Denise! Welcome and hope our videos continue to be helpful to you. Are you a current business owner?
Great presentation and content ❤️🔥
Thanks so much! I was stressed out trying to call Zen Business to make changes to the name of my new LLC from the operating company's name to the holding company's name. I thought I create a bigger mess for myself when it came time to make this transition. With the business ideas ahead, a holding company would tie all of my upcoming endeavors into one umbrella. After watching your video I was able to calm down and will tackle this step during annual renewal of my LLC. Thank you kindly. I will focus on what is in front of me. Namaste~
I am seeking tax and accounting advice for this new business and will look into LYFE accounting via the web as well
.
Good stuff.
Thank you.
Guys, you are the bomb! 🙌
Jody, you are too for your support! After watching, will you be setting up a holding company?
Would you advise that each subsidiary have its own payment processing account (stripe, square) so that the performance of each can be individually analyzed?
I have no idea how to do this sort of things but thank you so much for this video as I have watched many others and none explained the steps as clearly as you have. I have a question.... would I set this up or is it better to go thru some type of website, find a financial advisor (not sure how) or a lawyer to setup? Not sure how hard it is to do this. Thank you
subscribed but just a small piece of advice based on my quick experience/intro to this channel.
there are some GREAT/VERY IMPORTANT questions being asked in these comments that the video missed and responses by the team are primarily to the "Great job/thank you" comments. a few responses to these questions would prevent me from going elsewhere to find the information and easily lock in a subscribe. just my two cents. thanks for the info!
great content.
Thanks!
Thank you!!
Great information! My question is there a way to amend an operating company to become the umbrella company? I have an LLC that would be better suited as the umbrella with subsidiary companies under it.
I can dig it.
Hello, man this was so great and simple I admire the presentation content; excellent!!!
I do have a question I have 2 existing LLCs and another new one so thats #1, 2 and 3. I want to make an umbrella company from one of my existing LLCs. So from what I understand I will have to register my 3rd LLC new with a new EIN# and then connect all 3 together by filing an amendment and make #1 LLC the umberella and sister and brother for the other 2 as subsidiaries??
Well presented
Thanks for this video Sean, this is the one I've been waiting for to make sure I was doing everything right. I appreciate you guys for all the great information you provide.
Thank YOU for watching and supporting. Did the video clear everything up for you?
@@LYFEAccounting Absolutely. My goal is to have everything wrapped up by the end of the week. Thank you again for all that you guys do. It is appreciated.
Hi, I loved your video. I have a question about the EIN number. Do I just get one for the holding company or do I need one for each of the LLC under it? Thanks so much.
Gratitude 🔥
Good video!
Man i love your business jokes
I already have a Nevada c corp. I want to turn that into a holding company.im going to watch this again to make sure I'm not missing anything
What NAICS should be used for the holding company? Also, can you change your NAICS and the bylaws of a previously established LLC?
Thank you for the advice. Can I do the opposite? I already have an LLC that’s built up business credit and finished a new build construction project in its name. Can I convert this into a holding company and then create subsidiaries below that? Or what would you think could be a viable strategy? Thank you!
What if you have a current LLC now that has many different streams of income but under the same brand? Can I make this current LLC the holding company and create LLC and move those operations underneath it?
🔥people never explain this in 7 min🤙
Thanks a ton Martin. It's good to hear we are on the right track. Will you be setting up a holding company for yourself?
These "bylaws" you create...is there a template for that? Or can they be drafted in any way? Do they have to be submitted with the Articles of Organization when establishing your LLC?
Awesome
Awesome video!!! I have a question: if you already have an LLC but you want it to now operate as a holding company, what should be the steps to do that?
You have to amend it, as with any other changes to the company (state)- you'll have to amend the operating agreement to reflect that also.
I think you're giving out some awesome information I followed the steps you posted I'm now trying to open a account for the holding company and they are trying to make me register it as a foreign entity I'm not trying to do that help me
Is this a good idea to do for real estate if you have 4-5 properties? What if I have properties in state and out of state ,or plan too?
Thanks! If you already have a LLC and you make the parent company today, can you put your existing LLC under the Parent company? If that makes sense
Very helpful! I didn’t realize until last year that I was already running my businesses like this. This was just the natural way I wanted my businesses ran
Fantastic!
get this man a ted talk!
Is there a difference between a LLC owning other LLC's and a LLC holding company? And do you have to have a board of directors to manage the LLC holding company?
Great information sir I have a question I have a corporation that has multiple subsidiaries companies in them can I start my family foundation in this corporation which will be a non profit also can I set up my will and estate in this corporation as well
Hello
Thank you for the info. What do you think of opening a holding company in WY but I live in NJ and then put other LLCs under that Holdings company. is that beneficial for me if I live in NJ?
Do you have to start both the holding and subsidrary at the same time?
Can you make a video on HOW TO Create that operating agreement with the clauses that NEEDs to be in Holding company
If I have like 3 LLC’s and one Corporation, can I do the umbrella company model with the ones I have established? Can I have a single corporation to act as an umbrella for all of my llcs and the corporation?
Who's watching in 2023.
Me 😂
🔥🔥🔥🚀
This was very helpful, Thankyou. Quick question, when it comes to beneficial report filing a foreign llc; for company, applicant, and beneficiary do I use my personal info or holding company? Because I tried to use my holding company RA address and got denied.
What's the tax structure looks like in this form of business structure. Also would there be any legal filing or some sort of formal notiseries?
How would I pay myself if I worked for an operating single-member LLC owned by a single member Wyoming Holding LLC? (I am the owner of both and directly work for the operating LLC.) I am wanting to be taxed as an S-Corp (and be able to received distributions), and also have the asset protection of the Holding Company. Would the operating LLC be disregarded and the Holding LLC the S-Corp? Thanks!