MEMBER VS MANAGER MANAGED? (Which is better for your LLC?)
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- Опубликовано: 19 окт 2020
- If you have ever wondered whether you should choose to be a member managed or manager managed LLC, then this video will help you decide.
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#LLC #membervsmanager #hawthornlaw
Came across this video when i asked the question on youtube! greatly detailed my company and I just formed an LLC not to long ago, we did a manager managed LLC and i knew somewhat the difference is but this video helped me out a lot! thank you so much!
You should do a video on how to transfer money INTO an LLC.
Wow looked this question up on YT. You got straight to the point and delivered clarity. Great video. I appreciate you. 🙏🏾
What? He took a very long time.
I have watched numerous videos about forming an LLC. And your video is the first one I've come across. That's pretty much altruistic instead of trying to sell somebody some scam service. Thank you so much for this
Glad it was helpful!
Good video!! Valuable info to consider. Thanks!!👍🏼
Thank you. I followed every word. Very well said.
This information was very helpful to my business plans. Thank you!
Glad it was helpful!
Man glad I got it right the second time
Reminder set
This is something I struggled with.
Member managed LLC sounds a lot like a limited liability partnership, and a manager-managed LLC sounds a lot like a limited liability limited partnership. Could you make a video of how they are different?
Thanks a lot sir. I will subscribe, being I am in NC and SC to learn more from you. 😊
Thanks for this!
Great information, Thank You
Thank you so much !
I have a question. Hopefully you can help me. My husband and I are starting a liquor store business. He will be working full time at the store. We were unsure if it was better to put him on the LLC and pay him as a member or just put me on the LLC and pay him as an employee 🤔
Currently going through our Operating Agreement and deciding how we want to do this as a team of 5 primarily owned by a SDVOSB ( Vet)
I just filed a dba and EIN what if I don't do anything with it for a year or two would I have to do anything with file any tax for it ? Or can I just let it sit
How about if I open a franchising co? What roll do I pick
I learn a lot from your videos. You are a great teacher
How do I change my member managed LLC to a manager managed ?
My business is in Nevada
Thanks
Contact your State business agency to have it amended. $25 to have it done in Florida. Forms are also avaliable on their website.
question:
let's say a entity is established (soul prio), can this entity Act in the capacity of manger as manager-managed LLC?
same question can a Estate act in the capacity as a noncommercial registered agent?
obviously for privacy and placing the Corner Stone for foundation. appreciate your effort in making educational videos and attempt to answer any questions to best of your knowledge.👍
So the llc we just opened has a manager and a member who is responsible for filing the company’s gain and losses on their own personal taxes? And do they file the gains and loss profit on their own personal taxes if even
Hi Jim, if there is single member in LLC and "Non-member Manager"(hired as an employee) do all the work for LLC then is it manager-managed or member-managed LLC?
Thank you.
And for janitorial service
Jim with a manger LLC, who files the taxes? The registered Agent or the Manager?
Your content has been beyond amazing! Is it possible I might be able to enlist your help? I am in Nebraska. I was already heading for trouble pre-covid, and now....oooh I need help!!😖😥
Yes of course! www.hawthornlaw.net/contact
@@jimhart Thank you! your pricing is incredibly reasonable yet still unreachable for me at this moment. 😌 Im going to binge watch your channel and try to figure out my next steps. As soon as I can rework my budget to include your services, I WILL be reaching you via your contact forms!
Thank you for your content!
Hi Jim
I have one question - I have an older member managed LLc with 2 members and one of them departed. I need to make a new operating agreement as Manager managed LLC ( now it's single person) but am told that the manager will do everything and his appoint and all with be by the member and any decisions he will take will be through the member only ) so how I can incorporate this.
Hi, what if i have a SMLC that I want to transfer over to my sister? How would I do that?
Why doe everything have to do ith online business or starting your tv business how about do a video on small hvac business llc or sole proprietor manager or member please thank you
Maybe a silly question - but could having a Wyoming Holding LLC be the member-manager of your operating LLC possibly expose the Wyoming Holding LLC to lawsuits or debts of the operating LLC? (maybe the Holding LLC could be see as acting as "one" with the oeprating LLC/piercing the corporate vail)?
If your "holding LLC" is the managing-member of your "operating LLC", then your "operating LLC" is actually the "holding LLC", unless I'm missing something...
@@jimhart thanks for your reply. The holding LLC would actually be the umbrella company with the operating LLC as its subsidiary. It is my understanding that another LLC can be a member within the operating llc, but I could be wrong about this. I'm basically just wanting to know if the holding LLC can be the manager for a manager-managed operating LLC (it's own subsidiary). If so, are there any risks of piercing the corporate veil in doing so, and would the holding LLC have to foreign file in the state that the subsidiary LLC is active in.
Clarification question: if I want a Wyoming Holding LLC to manage a subsidiary LLC, do I have to set up my subsidiary as MEMBER-managed (by the holding LLC)? or can it be MANAGER-managed (by the Wyoming Holding LLC)? Assuming both LLCs are single-member, would there an advantage to either option?
Hi Jim, thanks for you content appreciate ever video you upload.
I hope you or somebody can help me with this QUESTION.
Im starting my LLC registration and in one of the question Im asked for capacity, choose between organizer and member organizer. I'm the owner and the only one that will represent the company. Should I choose organizer or both (Member Organizer) any answers will be truly appreciate it. Thanks again.
Hi - unfortunately I can answer legal questions like that in comments. Sorry.
@@jimhart Thanks for responding anyways Jim, keep up the great work. God bless!!
Hi, my wife and just formed a llc. We chose member managed and both our names are on the llc as organizers. We applied for ein and chose member managed and chose a 1 member option only. Should we have chosen 2 members instead of 1? Thank you.
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Starts at 2:00
As a multi member can I file my W2 separate from the business to get 2 income taxes or do they still run together trying to get the most money back for both business and personal
I'm about to create an LLC in Wyoming and I will be the only one owner and only one member of this LLC. So should I add myself as a Manager and also as a Member? Does it changes anything or should I just leave these parts since I'm going to be only one owner, manager and member of this LLC?
Could you please answer?
Thanks for video.
I'm also starting an LLC in Wyoming. What did you put?
@@FUW-guy Member managed if you are one single member LLC.
@@kaan3874 would that make you an employee, at that point you have to file taxes and w-2
Is it possible to amend a member managed OA to a manager managed OA?
It's costing my husband and myself $25.00 to amend in Florida.
I’ve seen sole shareholders set up multiple entities for each of their retail businesses in california with a separate management firm registered in Nevada and separate parent company also registered in Nevada all with the same owner but with a facetious nominee officer as registered agent, is this legal? It sounds too good to be true in order to evade tax responsibilities and liability. It screams fraud.
I agree.
What if an LLC is a member?
Start watching from 2nd minute
great
We need video on the piercing of the corporate veil
✨️🎓🙏🏾🙏🏾🙏🏾🎓✨️
First to say first! Otherwise, thanks for the video!
Too long and drawn out.