Do This BEFORE You Start A New LLC In 2024
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- Опубликовано: 25 дек 2023
- In this video, we're going to talk about why you should definitely not start an LLC until you do this first. By following these simple steps, you'll avoid many common LLC problems and set yourself up for success in business.
If you're thinking about starting an LLC, be sure to watch this video first! By following these steps, you'll avoid common problems and set yourself up for success.
You can schedule a FREE discovery call with our team with the link below.
www.jamesbakercpa.com/schedule
Or get your questions answered right away on a call with James. Schedule with the link below to receive clarity on your tax situation and stop spinning wheels.
www.calendly.com/jamesbakercp...
Would you like to learn our 3 step strategy for owning and operating a US Company? Do you want to grow your business and pay no taxes without spending hours and hours learning how everything works on youtube?
You can schedule a FREE discovery call with our team with the link below.
www.jamesbakercpa.com/schedule
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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.
-----Longer videos that explain it all!
How to Legally Pay NO US Taxes - • IRS Secrets: How to LE...
How to Legally Pay NO US Taxes (part 2) - • Are you a Non Resident...
-----Guides and How tos
Annual reporting for a foreign owned multi member LLC (Masterguide) - • Tax Laws for Foreign-O...
What is Form W-BEN and why do I need it • How to Fill Out W-8BEN...
Which payments from US Companies are subject to withholding? • Which US Payments are ...
How to complete Form W-8BEN - • 🧾🔍 HOW TO complete Fo...
How to complete Form W-8BEN-E - • How to Complete Form W...
How to get an ITIN - • Getting an ITIN Number...
-----And don’t forget to check out all of the “CALLS WITH JIM”
• Calls with Jim
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
Click here - www.jamesbakercpa.com/offers/...
Already have an LLC? Did you already complete form 5472 for your company? Did you know there is a $25,000 penalty for not doing this form? I’ve made a short training that explains exactly what you need to do and why so you can get this done quickly and correctly, the first time around.
Click here - www.jamesbakercpa.com/offers/...
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -
What are sales taxes? • Do I pay Sales Taxes o...
What is a resale Certificate and Why do you Need it - • What is a Resale Certi...
How to get a Florida Resale Certificate, Part 1 - • 📝💼How to get FLORIDA R...
How to get a Florida Resale Certificate, Part 2 - • Get Your Florida Resal...
How to file a DR-15 Florida Sales and Use Tax with 0 Sales - • Florida Sales Tax Fili...
I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. taxjar.grsm.io/jamesbaker7628
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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.
I trust this guy because he is bold.
I think you mean bald.
Sic burn
Both.
U meant bald right?😂
Love your channel! Thank you for all this great information 🤙
solid info man. i keep my pen and pad ready when i get on the channel. really appreciate you so much
Thank You!
Best informative video I ever watch, thanks JB.
Great video like always! Very informative!
Great video and tips for non-residents looking to form a U.S. LLC and taxation issues.
I wish I knew that before. Very informative
Good stuff, amigo!
Please can you make a video about the benefits of LLC to make E2 form.
Thank you for your amazing videos ❤
Hi, James!
It's so interesting that you've mentioned Kazakhstan.
I'm actually from Kazakhstan.
Our company provides BPO services.
Best regards,
Nurbol Kapakov
Founder
Mergen Capital Trust LLC
Great video. Short and sweet. Biggest mistake I observe in the biz: opening LLC is a state with annual report requirements. Had a client operating an LLC in 2024 that the state “canceled” in 2016. 🤷🏽♂️
Thanks. But be careful even if you get a NM LLC, you need to pay your registered agent..if they withdraw for non payment you can also get the LLC shut down
Thank you so much! Question!! What if someone who is not a Citizen is opening up a LLC and has people to work who may or may not be Citizens. Can they still be on payroll and how to do so? What are the steps for the LLC owner to start up if he isn't a resident
A friend referred me to your page and said you would provide me with the right information so here it goes. I currently live in Ontario and I have some family in Florida. I'd like to invest in real estate down there (As a foreign investor) since the housing market is terrible in Canada. I'd basically like to buy places and have them rented out. So, I was told to start off by opening up an LLC. I've watched many of your other videos, but my first question is, should I still open an LLC if its only for being a foreign investor? and if yes (because of the liabilities and protection an LLC offers) What site should I use for someone who is living in Canada to open up the LLC?? How long does it take to set up? Please let me know, James! Thanks
We are considering llc for drop shipping in USA market
Do Foreign partners need a Partner's SSN or TIN for the Schedule K-1
Hi James when can we start mailing our forms for tax year 2023?? Is there a particular date that we have to wait till the IRS starts accepting our tax forms?? Please respond. I want to file asap so I don't miss the deadline date of March 15
What about tax paid on profit payouts to you as an owner and a non-us resident, do we have to pay tax to both the US and our home country in this case?
I’m wondering if now is a good time to start an LLC. I have a social media marketing business and I am resident of Hawaii. I am also a student and will be doing a study abroad in Germany from end of January to June. What are the pros and cons of starting one now before I leave? TYIA!!
Do every member file for a llc ein or u only have to file once with one company showing it’s more then one owner or co owner
Yea but with registered agent adress and virtual office address you cant get SAM.GOV unique ID. you need physical address
I am considering opening an LLC for a couple of things. Selling some spare parts and consulting. However, I am planning on moving within a year time frame. Should I wait to open the LLC until I am settled, use one of the states you mentioned for out of country setups or just set it up and move it after I move? I currently live in NJ. We are not pinned down on where we are moving to, but somewhere like NC, SC, GA or TN at the moment.
Hi James, I have couple of doubts. I am UK resident at the moment.
1. Can I use create a LLC only to invest with a broker?
2. Could I use the LLC to work for US companies for digital/remote works?
Thank you very much i love your channel!
Hey James do you have the name of an attorney in NY that you recommend for small business legal advice or r u licensed in NY?
Interested in starting a US based insurance agency as a non resident without ever being in the US. Is this possible?
Im Starting A new bussines as An Independent Contract, Im wonder if this LLC would apply for the type of bussines I need to open
I am a foreign I only going to do online store to sell in USA is it good to file an llc in new mexico state? Do i have to pay any taxes? I am thinking of using inc authority as a service provider, when is the time for tax form filling? And will they do it for me? can you advise please about all the points?
I read somewhere that certain types of LLCs are not required to disclose the owners such as those that are disregarded entities. True?
Different states have different rules for ownership disclosures, but all LLCs have to disclose to FINCEN with the new report.
If you are a South African citizen providing freelance marketing services to a client in the U.S. while living and working in South Africa, and your business is registered in the U.S. with a U.S. tax number (such as an EIN) how this works in terms of tax
No US taxes
Is it possible for a Portuguese company to be a single member of a LLC? We have company tax of 21% in Portugal, but about 50% (in our rate) in IRS…
Hi Gilda! Follow the link in bio or find me at www.jamesbakercpa.com/ for a free consultation! 😁
Why you're not a fan of NM LLC?
NM is fine. But they have a General Sales tax that applies on adspend and other things. And the state is a little slower. But the tax stuff is all the same.
I m foreigner; I have opened llc in October, what all forms do I need to submit this January?
Pro Forma Form 1120 with Form 5472, BOI report with FINCEN, State renewal. Good luck!
@@JamesBakerCPA And what about the 1040NR? i am foreign with LLC in Florida. Thank you.
Hi how do I get my RUclips username copyrighted it's my username on RUclips I've had my RUclips channel for a long long time and I'm also on Instagram, and other websites and social media sites too. I've always wanted my username to be mine forever and nobody else could use it. I do RUclips videos as a hobby and never gotten any money from my videos.