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Evelyn Epperson, How does having a LLC help you to save on your taxes? Sounds like something I need to do.
It is another veil of protection that helps. Many times the Counts can pierce that veil when there has been a case of gross misconduct, but this can vary from state to state.
Ron and Alexandra Seigel
Joshua Hess I think it's a good idea to register as an LLC - have a separate business entity/account.
After all, we all are independent business owners.
Your financial person/CPA can best recommend a set up that fits your needs.
Good quesiton that I have given thought to on and off. Really need to give this more thought.
An LLC can present a little more professional image than just your name. In my case I was also looking for a name that would have better SEO than my personal name. And in the event that someone should come after you, every bit of defense is helpful.
In my area instead of LLC it needs to be PC (Professional Corporation)
Depends on the problem you need to solve.
The nature of the question suggests a solution looking for a problem, in which case, no benefit will be realized.
If however business direction creates new opportunities, challenges or exposure, that would be a problem in need of a solution. Your attorney, perhaps accountant, is the one to consult regarding how a LLC would benefit your business enterprise(s).
Joshua Hess The alternative to an LLC is a C Corp, an S Corp or a sole proprietor. For me I took the LLC approach. No real tax advantages, but it did protect me for keeping my business assets separate from my personal assets. Not a must, but it deserves a discussion with your attorney.
I did have to register with the Real Estate Board as a firm which meant an additional fee plus some additional annual State fees.
I say it really helps to protect you on another level, but some states dont allow it. Others the LLC has be your exact name as in Stefan Winter LLC. Depends on who your states allows to hold a real estate license, can you get it in your LLC name or does it have to be a person.
Depends on the state. The State of California does not allow it. We like the idea of the LLC. A
I dont know.
Every business is different, study the types and get some help from a professional
Talk to your CPA or tax attorney to determine what is best for you.
It depends on the objectives.
If you want limited liability, then yes I think it is an excellent choice, and I do have it.
Limited Liability Company? NO Corporation yes....
I have a LLC! When you make good money you will need a LLC to save on your taxes.