Thanks for watching, and check out this video on forming an LLC next: ruclips.net/video/rf6ake4zxcg/видео.html. If you have the chance, let me know what entity you chose. I wish you all the best in your business ventures.
Thank you for the straightforward comparison of a C Corp vs S Corp vs LLC vs LLC taxed as an S Corp. This is one of the best explanations I’ve seen on this topic and made my entity choice pretty easy!
After working for a very large corp for 20 years then becoming self employed having now 30 employees and 2m in sales, and recently started purchasing multi family rentals in an another LLC. I will say the large corp have a combination, the C Corp is the mother, the Corp then owns multiple entity’s. Our payroll came from a LLC. The real estate division was a LLC.
Thanks for watching and for your comments. C corporations serve several purposes, especially for companies that want to go through funding rounds with different classes of stock (e.g., Series A, Series B, etc. and/or Preferred stock). Also, companies that intend to go public should be C Corps. I personally don't like C corporations in the real estate context for most people due to the double taxation (at the Corp level and then again when dividends are made to the owners). Thanks again for watching and for your comments, and best of luck to you in your real estate venture! Best regards, Chris
Thank you for your kind words. They are much appreciated. Glad you found it helpful! And, yes, I try to incorporate my dog to add a little levity to otherwise dry topics. Thanks!
Chris, you did just fine with your first video. I like your easy going concise language. Keep it up, you’ll get more comfortable the more you do. Your topic was great. It answered my confusion on forming a LLC or S corp. It will be an LLC with form 2553 for taxation., the best of both. Thank you! Many others never connect this easy solution when starting a business. Now I need to watch your other videos. Thank you, Keith 🇺🇸
Thank you Keith. I appreciate your comments, and I'm glad my video helped with your decision! I followed this video with some others that may be helpful now that you've chosen to form an LLC (e.g., what state in which to form it, how to form it on your own, what steps to take after forming, should it be manager-managed or member-managed, etc.). I hope they help, and let me know if you have any questions. Thank you! Best regards, Chris
You are welcome, and I'm glad you found it helpful! Note that if you choose to form an LLC, I have other videos which should answer a lot of questions (which state to form an LLC, how to set up an LLC on your own, what to do after forming an LLC, etc.). Thank you! Best regards, Chris
Thank you so much !! You are the best at educating , explaining and answering all of the questions most people find confusing. Thank you so much , gave me so much clarity and hope !
Home run out of the ball park Llc info. I like how you balance giving enough llc biz information without directly recommending to viewers what entity to choose. Thanks!
I appreciate that, thank you! There are reasons for someone to choose a C-Corp or other entity types, but yes I like the LLC for most purposes. Whether to choose S-Corp status is a question for your CPA and depends upon your business type. I think it works for most types, but I would not use it for real estate holdings/ownership. Best regards, Chris
Thank you for the reply! I noticed that there are no specific videos on how to transfer entities (LLC & C CORP) into a holding company. Specifically the transfer of ownership of a single-member entity video is hard to find on RUclips. From what I've researched, this transfer defines a holding company, thanks.
Hi Daniel. I will make a video on this issue. In the meantime, note that a separate company I'm connected to is producing a "Holding Company Package" which will include both the steps to take and the "Contribution Agreement" whereby a member of an operating LLC contributes his/her LLC membership interest into the holding company LLC (which such member already owns). It is not ready yet, but if you want to get on the wait list for this and other high quality legal templates (at non-attorney prices), feel free to check it out here: www.attorneydrafted.com Best regards, Chris
Thanks so much for your channel! I'm learning a lot. If I choose to file as a single-member LLC taxed as an S-Corporation, do I need to now file a separate state + federal tax return for my LLC? Or can I report the profit/loss on my personal tax return? Thanks again for all the great info you're sharing. If I can ever reciprocate with computer help please feel free to reach out.
Hi. Thank you for watching and for you kind words. I'm glad you are finding the content helpful! Although I can't give tax advice, generally speaking if your LLC elects S Corp tax status, the LLC will file a separate return. The profits/losses of such LLC will then be added to your personal return. Thanks for the offer of computer help! Best regards, Chris
Thank you for the kind words. Yes, I will create a video on the holding company structure as I receive a lot of questions about this. Regarding the Operating Agreement, there is generally not much difference other than (i) in the holding company Operating Agreement, you are the member, and (ii) in the subsidiary Operating Agreement the member is the holding company. Thanks for the idea ... I do need to provide more information about holding company structures! Best regards, Chris.
Chris, big picture because I know things change here or there. I am the sole shareholder in a 47 year S-corp. It has a legacy name and I want to rebrand. Actually changing a corporate name is a pain in the you-know-what. What are the advantages, disadvantages of having the new brand as an LLC versus a DBA, etc. Any idea about the impacts on banking, insurance, employee benefits programs, etc.
Hi David. While I cannot give you specific legal advice without you hiring me as your attorney, I will make the following general comments (which you should run by your own CPA and/or legal counsel). My first instinct based upon the information you provided is to simply amend the Articles of Incorporation (may be called something different depending upon your state) of your S Corp to reflect a name change. That's very easy for your bank, insurance company, payroll provider, 401k administrator, etc. to track and change. If you choose to have your S Corp use a DBA (rather than an official name change of the corporation), then just make sure you understand what counties (e.g., CA requires you file in the counties) and states require DBA registration for counties and/or states within which you are doing business. If there is a reason you want to have an LLC going forward (e.g., fewer formalities) rather than an S Corp, depending upon your state you may be able to convert your S Corp into an LLC. Alternatively, you can consider creating an LLC as a wholly owned subsidiary of the corporation, and transfer assets into the LLC. Or, start a new LLC with you as the sole member and have your corporation merge into the new LLC, with the LLC as the surviving entity and the corporation as the disappearing (merged out) entity. All of these options would require you to change banking, insurance, etc. into the new entity. Again, these options should be evaluated by an attorney and tax advisor in your state. Feel free to reach out to me at www.chrisjacksonlaw.com, as I may be able to help depending upon the jurisdiction.
Hi Bruce. A business plan is a good idea because it forces you to go through the exercise of thinking through and writing down important information, such as (i) the market for your product/service; (ii) your competitors and how your product/service is different; (iii) your capital needs and growth projections; (iv) your risks and potential rewards; (v) the steps you need to take to meet your objectives; and (vi) other important considerations for your business. With that said, there is no requirement to write a business plan unless a bank or a potential investor requires one.
Thank you for watching my video and for your question. I have one video on how to create an Operating Agreement on your own for free, and that is here: ruclips.net/video/-7NH95aM2YQ/видео.html. Note that a related company of mine is about to launch an attorney quality legal template service (at a fraction of the price you'd pay an attorney), and the website for that is here: www.attorneydrafted.com. The first thing to be released will be an Operating Agreement. I will also have items related to a holding company (steps and structure). Note that there is not much difference in Operating Agreements between a holding company and an operating company. However, to the extent they differ, I may create a template specific to a holding company and one specific to the operating company (in the real estate context at least). Thank you for the suggestion.
Great Content and i love your dog... Quick Question: I assume i can register a Wyoming LLC under my UAE Corporation (Being the owner) and when it comes to applying for EIN can i get a tax number under my UAE Corporation..?
Hi David. Thank you for the compliment, it is much appreciated. Yes, my dog Jax is a good addition to what might otherwise be dry content. To answer your questions: 1. To form a WY LLC, I recommend you follow the steps in my video here: ruclips.net/video/Zl-CxK7L6Hg/видео.html 2. You can certainly have your foreign corporation as a member of the WY LLC (but don't elect S Corp tax status). 3. When you get to the EIN Section (here is the link to where I do the screen share: bit.ly/IncFileForLLC), you have the option of either using a SSN or ITIN. You can also let them know you are a non-resident (if you are), and the LLC will be issued an EIN without requiring either a SSN or ITIN. If you have an SSN and use it, that's the fastest method. The other methods will take about 3 months. I hope that helps! Best regards, Chris
Chris this is amazing and much needed content! You just solved a huge headache for me. I know you cannot offer legal advice without being hired but I have a quick question. I want to form LLC taxed as an S-Corp in Wyoming and I am a non-US citizen, who only operates online and outside of US. Doesn’t this disqualify me from paying taxes at all since I do not have an exclusive partner or fit any of the 3 criteria to be eligible for taxation?
Hi. Thank you for the kind words... glad the videos are helping. As you stated, I can't give legal (or tax) advice. Generally speaking, unless you are a US citizen or green card holder, you cannot be taxed as an S-Corp (S-Corp restrictions apply to LLC members also if you elect S-Corp status). So, you would have a single member llc which is essentially a disregarded entity for tax purposes. As to whether you would be subject to US tax, it is best to speak to a CPA. With that said, here is an article that discusses the tax liability of foreign owned LLC and provides detail as to whether the LLC may be subject to tax (e.g., if engaged in a trade or business in the US): onlinetaxman.com/us-llc-tax-haven-for-foreigners/. Note that, even if you don't have taxable income in the US, your LLC will still need to file a tax return. Hope that helps. Best regards, Chris
@@cjlawvideos Thanks Chris you are most helpful, could you please ask incfile to give you an affiliate link so I can pay you back somehow for being so informative and helpful?
@@alminhodzic3154 Hi. Thanks, much appreciated. Here is my affiliate link for Incfile: bit.ly/IncFileForLLC. It won't cost you more, but it helps support my channel. Thank you! Best regards, Chris
Thank you for your kind words. While technically your LLC's S Corp tax return is due March 15 (which is routinely extended without penalty), since it is a pass-through tax entity (like sole proprietorships and partnerships), you will pay taxes related to your LLC's net income with your personal tax return on April 15. I hope that helps. Best regards, Chris
Hi Daniel. I was going to stick with the LLC model, but since you bring it up, I can make sure it applies to C corps as well. Thanks for the question! Best regards, Chris
Hi: Thank you for watching my video and for your question. I can't give legal advice without being retained, but in general you should consider the following: 1. If you are using a trade name or DBA for your sole proprietorship, you should first determine whether that name is available as the name of your LLC. You can determine that in most cases by looking at the Secretary of State's website in CA (or in another state if you will form your LLC in another state and qualify in CA). Here is a video on what is the best state for your LLC: ruclips.net/video/Qag9vlnp348/видео.html 2. If the name is available, and you are using a DBA, then you may just want to name your LLC the same name. If it is not available, and you want to keep using that DBA, you may be able to either cancel your current DBA or transfer it for use by your LLC. The process depends upon your county. 3. For steps on how to form an LLC in CA, here is my video: ruclips.net/video/LOtPM_b6JGU/видео.html 4. If you choose to form your LLC in another state, like WY, my video for WY is here: ruclips.net/video/Zl-CxK7L6Hg/видео.html. Just note that, while a WY LLC will generally be better at protecting assets than a CA LLC, it does require fees in both WY and CA. 5. For what to do after you form your LLC, here is my video which covers the important steps: ruclips.net/video/QvFuTI3CdbQ/видео.html I hope this helps, but if you have any other questions please let me know! Thank you. Best regards, Chris
Thank you. I can't give legal advice without an attorney-client relationship, but generally speaking (i) if your LLC or Corp is sued, then your liability is limited to the amount you invested; and (ii) if you are sued personally, then your ownership interest in your company might be one of the personal assets at risk (but there are exceptions to this). I'd recommend that you speak to an attorney in Florida to address any specific legal questions. Good luck, and thanks for watching!
Hi. Thanks for watching my video and for your question. Unless you have potential investors who demand that you form one in Delaware (which happens sometimes because they are used to that jurisdiction), I prefer Wyoming. I choose Wyoming because it has similar protections to Delaware, but it less expensive than DE and has zero tax. A few years ago Delaware added asset values to their tax calculation (no matter where the assets are located), so C-Corps are paying much higher tax in DE now than in the past. Hope that helps! Best regards, Chris
Question I'm Canadian and my Starr up will involve people from the US... should I register under Canada or should Delaware also in this case I can't so llc with s sorp because I'm Canadian right?
Hi. Thank you for watching and for your question. I see you commented on my DE video too, so I'll answer your questions there. I will say that, unfortunately, since you are a non-resident you cannot have an S Corporation in the US.
Hello, my name is Daniel Massaro. would you be interested in giving me a quote to put my no mortgage personal home in a land trust. Also, I established an LLC in Wyoming for 3 entities. 2 c corps that own real estate & 1 LLC that I'm going to move personal money into for investing in real estate. I don't know if it's important but when the money's not being invested in real estate I will probably be getting interest from Bank CDs. Also, a quote to move those 3 entities into the Wyoming LLC which would become the holding company. It would also make me happy if you told me we could put the land trust in the Wyoming LLC that I have already created, thanks.
Hi Daniel. Thank you for your question. I'm taking on a limited number of clients at this time, but feel free to reach out to me via my website at www.chrisjacksonlaw.com. Thank you.
Thanks for watching, and check out this video on forming an LLC next: ruclips.net/video/rf6ake4zxcg/видео.html.
If you have the chance, let me know what entity you chose. I wish you all the best in your business ventures.
I appreciate the simple explanations Chris, and the steady eye contact. thanks.
I'm glad you liked it, thanks! Best regards, Chris
You were so humble and sincere asking for the like on your first YT video…how could anyone not like the video! 👍
I appreciate that! Thank you for the kind words. Let me know if you ever have any questions. Best regards, Chris
Thank you for the straightforward comparison of a C Corp vs S Corp vs LLC vs LLC taxed as an S Corp. This is one of the best explanations I’ve seen on this topic and made my entity choice pretty easy!
Glad you enjoyed it!
Love the dog and great info to boot.
Thank you for the kind words! Yes, my dog Jax is the best part of my videos! Best regards, Chris
Hell yeah, thank you for this information! I’ll be a subscriber for life👍🏾
You are very welcome, and I'm glad you found it helpful. Thanks for your kind words and for subscribing! Best regards, Chris
After working for a very large corp for 20 years then becoming self employed having now 30 employees and 2m in sales, and recently started purchasing multi family rentals in an another LLC.
I will say the large corp have a combination, the C Corp is the mother, the Corp then owns multiple entity’s. Our payroll came from a LLC. The real estate division was a LLC.
Thanks for watching and for your comments. C corporations serve several purposes, especially for companies that want to go through funding rounds with different classes of stock (e.g., Series A, Series B, etc. and/or Preferred stock). Also, companies that intend to go public should be C Corps. I personally don't like C corporations in the real estate context for most people due to the double taxation (at the Corp level and then again when dividends are made to the owners). Thanks again for watching and for your comments, and best of luck to you in your real estate venture! Best regards, Chris
Super helpful video! So glad I stumbled across your channel. Your dog adds a lot of fun character to your videos too.
Thank you for your kind words. They are much appreciated. Glad you found it helpful! And, yes, I try to incorporate my dog to add a little levity to otherwise dry topics. Thanks!
Chris, you did just fine with your first video. I like your easy going concise language. Keep it up, you’ll get more comfortable the more you do. Your topic was great. It answered my confusion on forming a LLC or S corp. It will be an LLC with form 2553 for taxation., the best of both. Thank you! Many others never connect this easy solution when starting a business. Now I need to watch your other videos. Thank you, Keith 🇺🇸
Thank you Keith. I appreciate your comments, and I'm glad my video helped with your decision! I followed this video with some others that may be helpful now that you've chosen to form an LLC (e.g., what state in which to form it, how to form it on your own, what steps to take after forming, should it be manager-managed or member-managed, etc.). I hope they help, and let me know if you have any questions. Thank you! Best regards, Chris
Thank you very much, you are very helpful to understand the difference types of business entities.
You are welcome, and I'm glad you found it helpful! Note that if you choose to form an LLC, I have other videos which should answer a lot of questions (which state to form an LLC, how to set up an LLC on your own, what to do after forming an LLC, etc.). Thank you! Best regards, Chris
Thank you so much !! You are the best at educating , explaining and answering all of the questions most people find confusing. Thank you so much , gave me so much clarity and hope !
Hi Adriana. Thank you so much for the very nice compliment! I'm glad the video answered your questions. Best regards, Chris
Home run out of the ball park Llc info. I like how you balance giving enough llc biz information without directly recommending to viewers what entity to choose. Thanks!
I appreciate that, thank you! There are reasons for someone to choose a C-Corp or other entity types, but yes I like the LLC for most purposes. Whether to choose S-Corp status is a question for your CPA and depends upon your business type. I think it works for most types, but I would not use it for real estate holdings/ownership. Best regards, Chris
Thank you! You did a great job explaining that. Finally I get it!
So glad to hear that. If you have other questions in your business journey, let me know! Best regards, Chris
Good stuff!
Glad you enjoyed it, thanks.
Thank you for the reply! I noticed that there are no specific videos on how to transfer entities (LLC & C CORP) into a holding company. Specifically the transfer of ownership of a single-member entity video is hard to find on RUclips.
From what I've researched, this transfer defines a holding company, thanks.
Hi Daniel. I will make a video on this issue. In the meantime, note that a separate company I'm connected to is producing a "Holding Company Package" which will include both the steps to take and the "Contribution Agreement" whereby a member of an operating LLC contributes his/her LLC membership interest into the holding company LLC (which such member already owns). It is not ready yet, but if you want to get on the wait list for this and other high quality legal templates (at non-attorney prices), feel free to check it out here: www.attorneydrafted.com
Best regards, Chris
Thanks so much for your channel! I'm learning a lot. If I choose to file as a single-member LLC taxed as an S-Corporation, do I need to now file a separate state + federal tax return for my LLC? Or can I report the profit/loss on my personal tax return? Thanks again for all the great info you're sharing. If I can ever reciprocate with computer help please feel free to reach out.
Hi. Thank you for watching and for you kind words. I'm glad you are finding the content helpful! Although I can't give tax advice, generally speaking if your LLC elects S Corp tax status, the LLC will file a separate return. The profits/losses of such LLC will then be added to your personal return. Thanks for the offer of computer help! Best regards, Chris
hello, great videos!
can you do a video about how a llc holding company operation agreement differs from a
subsidiary llc.
Thank you for the kind words. Yes, I will create a video on the holding company structure as I receive a lot of questions about this. Regarding the Operating Agreement, there is generally not much difference other than (i) in the holding company Operating Agreement, you are the member, and (ii) in the subsidiary Operating Agreement the member is the holding company. Thanks for the idea ... I do need to provide more information about holding company structures! Best regards, Chris.
Chris, big picture because I know things change here or there.
I am the sole shareholder in a 47 year S-corp. It has a legacy name and I want to rebrand. Actually changing a corporate name is a pain in the you-know-what.
What are the advantages, disadvantages of having the new brand as an LLC versus a DBA, etc.
Any idea about the impacts on banking, insurance, employee benefits programs, etc.
Hi David. While I cannot give you specific legal advice without you hiring me as your attorney, I will make the following general comments (which you should run by your own CPA and/or legal counsel).
My first instinct based upon the information you provided is to simply amend the Articles of Incorporation (may be called something different depending upon your state) of your S Corp to reflect a name change. That's very easy for your bank, insurance company, payroll provider, 401k administrator, etc. to track and change.
If you choose to have your S Corp use a DBA (rather than an official name change of the corporation), then just make sure you understand what counties (e.g., CA requires you file in the counties) and states require DBA registration for counties and/or states within which you are doing business.
If there is a reason you want to have an LLC going forward (e.g., fewer formalities) rather than an S Corp, depending upon your state you may be able to convert your S Corp into an LLC. Alternatively, you can consider creating an LLC as a wholly owned subsidiary of the corporation, and transfer assets into the LLC. Or, start a new LLC with you as the sole member and have your corporation merge into the new LLC, with the LLC as the surviving entity and the corporation as the disappearing (merged out) entity. All of these options would require you to change banking, insurance, etc. into the new entity.
Again, these options should be evaluated by an attorney and tax advisor in your state. Feel free to reach out to me at www.chrisjacksonlaw.com, as I may be able to help depending upon the jurisdiction.
Hey Chris my name is Bruce and I have a question in regards to the starting of the business do you need to write out a business plan for your business
Hi Bruce.
A business plan is a good idea because it forces you to go through the exercise of thinking through and writing down important information, such as (i) the market for your product/service; (ii) your competitors and how your product/service is different; (iii) your capital needs and growth projections; (iv) your risks and potential rewards; (v) the steps you need to take to meet your objectives; and (vi) other important considerations for your business.
With that said, there is no requirement to write a business plan unless a bank or a potential investor requires one.
Can you make a video on how to make a Wyoming operating agreement for a holding company
Thank you for watching my video and for your question.
I have one video on how to create an Operating Agreement on your own for free, and that is here: ruclips.net/video/-7NH95aM2YQ/видео.html.
Note that a related company of mine is about to launch an attorney quality legal template service (at a fraction of the price you'd pay an attorney), and the website for that is here: www.attorneydrafted.com. The first thing to be released will be an Operating Agreement. I will also have items related to a holding company (steps and structure).
Note that there is not much difference in Operating Agreements between a holding company and an operating company. However, to the extent they differ, I may create a template specific to a holding company and one specific to the operating company (in the real estate context at least). Thank you for the suggestion.
Great Content and i love your dog... Quick Question: I assume i can register a Wyoming LLC under my UAE Corporation (Being the owner) and when it comes to applying for EIN can i get a tax number under my UAE Corporation..?
Hi David. Thank you for the compliment, it is much appreciated. Yes, my dog Jax is a good addition to what might otherwise be dry content. To answer your questions:
1. To form a WY LLC, I recommend you follow the steps in my video here: ruclips.net/video/Zl-CxK7L6Hg/видео.html
2. You can certainly have your foreign corporation as a member of the WY LLC (but don't elect S Corp tax status).
3. When you get to the EIN Section (here is the link to where I do the screen share: bit.ly/IncFileForLLC), you have the option of either using a SSN or ITIN. You can also let them know you are a non-resident (if you are), and the LLC will be issued an EIN without requiring either a SSN or ITIN. If you have an SSN and use it, that's the fastest method. The other methods will take about 3 months.
I hope that helps!
Best regards,
Chris
Chris this is amazing and much needed content! You just solved a huge headache for me. I know you cannot offer legal advice without being hired but I have a quick question.
I want to form LLC taxed as an S-Corp in Wyoming and I am a non-US citizen, who only operates online and outside of US. Doesn’t this disqualify me from paying taxes at all since I do not have an exclusive partner or fit any of the 3 criteria to be eligible for taxation?
Hi. Thank you for the kind words... glad the videos are helping. As you stated, I can't give legal (or tax) advice. Generally speaking, unless you are a US citizen or green card holder, you cannot be taxed as an S-Corp (S-Corp restrictions apply to LLC members also if you elect S-Corp status). So, you would have a single member llc which is essentially a disregarded entity for tax purposes.
As to whether you would be subject to US tax, it is best to speak to a CPA. With that said, here is an article that discusses the tax liability of foreign owned LLC and provides detail as to whether the LLC may be subject to tax (e.g., if engaged in a trade or business in the US): onlinetaxman.com/us-llc-tax-haven-for-foreigners/. Note that, even if you don't have taxable income in the US, your LLC will still need to file a tax return.
Hope that helps. Best regards, Chris
@@cjlawvideos Thanks Chris you are most helpful, could you please ask incfile to give you an affiliate link so I can pay you back somehow for being so informative and helpful?
@@alminhodzic3154 Hi. Thanks, much appreciated. Here is my affiliate link for Incfile: bit.ly/IncFileForLLC. It won't cost you more, but it helps support my channel. Thank you! Best regards, Chris
Great info! If you elect the LLC taxed as S corp, does this then change when taxes are due? ex: March 15 vs Apr 15
Thank you for your kind words. While technically your LLC's S Corp tax return is due March 15 (which is routinely extended without penalty), since it is a pass-through tax entity (like sole proprietorships and partnerships), you will pay taxes related to your LLC's net income with your personal tax return on April 15. I hope that helps. Best regards, Chris
ty, I will sign up. 1 LLC subsidiary and 2 C Corp subsidiaries. Will there be a holding company package for a c corp?
Hi Daniel. I was going to stick with the LLC model, but since you bring it up, I can make sure it applies to C corps as well. Thanks for the question! Best regards, Chris
Thank u so very much for this awesome video
You are welcome ... and I'm glad you liked it! Best regards, Chris
That dog was so cute.
Thank you. He should have his own RUclips channel :).
Great Content!
Thank you - I appreciate the compliment! And, thanks for watching! Best regards, Chris
Thanks! This was a helpful video.
Thank you for your compliment, and I'm glad it was helpful!
I recently started a sole proprietorship and would like to change it to LLC+ S-Corp taxation in California? How can I move forward?
Hi: Thank you for watching my video and for your question. I can't give legal advice without being retained, but in general you should consider the following:
1. If you are using a trade name or DBA for your sole proprietorship, you should first determine whether that name is available as the name of your LLC. You can determine that in most cases by looking at the Secretary of State's website in CA (or in another state if you will form your LLC in another state and qualify in CA). Here is a video on what is the best state for your LLC: ruclips.net/video/Qag9vlnp348/видео.html
2. If the name is available, and you are using a DBA, then you may just want to name your LLC the same name. If it is not available, and you want to keep using that DBA, you may be able to either cancel your current DBA or transfer it for use by your LLC. The process depends upon your county.
3. For steps on how to form an LLC in CA, here is my video: ruclips.net/video/LOtPM_b6JGU/видео.html
4. If you choose to form your LLC in another state, like WY, my video for WY is here: ruclips.net/video/Zl-CxK7L6Hg/видео.html. Just note that, while a WY LLC will generally be better at protecting assets than a CA LLC, it does require fees in both WY and CA.
5. For what to do after you form your LLC, here is my video which covers the important steps: ruclips.net/video/QvFuTI3CdbQ/видео.html
I hope this helps, but if you have any other questions please let me know! Thank you.
Best regards,
Chris
Great video if im sue personally can they touch my llc or corp im
In florida
Thank you. I can't give legal advice without an attorney-client relationship, but generally speaking (i) if your LLC or Corp is sued, then your liability is limited to the amount you invested; and (ii) if you are sued personally, then your ownership interest in your company might be one of the personal assets at risk (but there are exceptions to this). I'd recommend that you speak to an attorney in Florida to address any specific legal questions. Good luck, and thanks for watching!
What's the best state to open a c corp form
Hi. Thanks for watching my video and for your question. Unless you have potential investors who demand that you form one in Delaware (which happens sometimes because they are used to that jurisdiction), I prefer Wyoming. I choose Wyoming because it has similar protections to Delaware, but it less expensive than DE and has zero tax. A few years ago Delaware added asset values to their tax calculation (no matter where the assets are located), so C-Corps are paying much higher tax in DE now than in the past. Hope that helps! Best regards, Chris
Question I'm Canadian and my Starr up will involve people from the US... should I register under Canada or should Delaware also in this case I can't so llc with s sorp because I'm Canadian right?
Hi. Thank you for watching and for your question. I see you commented on my DE video too, so I'll answer your questions there. I will say that, unfortunately, since you are a non-resident you cannot have an S Corporation in the US.
Yes thank you.
🔥🔥🔥
Thanks!
Hello, my name is Daniel Massaro. would you be interested in giving me a quote to put my no mortgage personal home in a land trust. Also, I established an LLC in Wyoming for 3 entities. 2 c corps that own real estate & 1 LLC that I'm going to move personal money into for investing in real estate. I don't know if it's important but when the money's not being invested in real estate I will probably be getting interest from Bank CDs.
Also, a quote to move those 3 entities into the Wyoming LLC which would become the holding company. It would also make me happy if you told me we could put the land trust in the Wyoming LLC that I have already created, thanks.
Hi Daniel. Thank you for your question. I'm taking on a limited number of clients at this time, but feel free to reach out to me via my website at www.chrisjacksonlaw.com. Thank you.
Good information
Thank you! Let me know if you have any questions. Best regards, Chris
Super helpful video appreciate it!
I'm glad you found it helpful, and thanks for your kind words!