Congratulations on wanting to start an LLC!
By coming here and reading this seven-part series and completing the activities in this series in its entirety, you will become an owner of your own Limited Liability Company (LLC). To put it in numbers for just the state of Florida where I reside; LLC’s account for almost 250k company entities compared to less than 1,000 Limited Liability Partnerships (LLPs). (See chart below)
[bctt tweet=”LLC’s are a form of business organization with the liability-shield advantages of a corporation and tax pass-through advantages of a partnership.” username=”magnitax”]
Why do I enjoy forming LLC’s for some of my businesses?
My aim is to provide information about LLC’s in a way that is simple and to the point. LLC’s provide me with flexibility when forming them since I do not need to setup officers or a board as you would have to do forming a corporation. Creating a business is a great way to make a purpose for yourself and your future. (Sponsored Ad:) Free Legal Forms. All States. Free to Print, Save & Download!
Do I have a Side-Hustle or Small Business based on IRS standards?
If you are only looking to make a few hundred Dollars for the holidays, I would not look at investing in an LLC. In a nutshell, it would not make sense to invest all your time and energy. If you are looking for something more part-time or that isn’t as involved I would Google one of the latest trends. If you’re really concerned, check out this guide from the IRS. Within that article, the IRS provides insight on how they view hobbies and someone looking to make a profit. My stance is; if you are building something you want others to look under the hood to invest, it is a business.
[bctt tweet=”If you are building something you want others to look under the hood to invest, it is a business.” username=”magnitax”]
How the LLC without expensive attorney fees series is structured to benefit you?
The series What can you do to form your LLC without expensive attorney fees series was created by Jean-Désir Fils and is structured as seven separate blog posts. Each post will break down the steps of what is needed to form your LLC without an expensive attorney fee. The series will ensure that you are able to form your LLC without expensive attorney fees. As you read this, it does not mean, you do not need an attorney and if you go through this series and still have doubt; please reach out to an attorney and CPA/Accountant of your choice. Our team respects all professionals and want you to make a sound decision; however, we understand at times; there is an urgency to form a company without getting a second look. At the end of this series, you will have a fully functional LLC based on your state’s requirements