1. Choose a name

2. Choose a registered agent

3. File articles with state

4. Determine necessary licenses

5. Create an operating agreement

6. Get an EIN

LLC Benefits: Flexible membership

Members or management group can manage the LLC

Protection from business debts and liabilities for the owners

Pass-through taxation or taxed like corporations

Fewer state compliance requirements

Optional steps: • Adopt operating agreement

An LLC is an option sole proprietorships or partnerships should consider.

Introduction

3 Different Income Types

Ordinary Income

Establish an LLC before buying a property

Not Using EIN Number

Set Up Business Bank Account

1065 Partnership Form

EIN Number

When to 1099 employees

Importance of Accountable Plans

How To Pay Yourself As A Single Member LLC

What Is An EIN Number

Why We Don't Get A Deduction For Paying Ourselves

S Corp Rules

Determining Reasonable Compensation

How Much Should You Pay Yourself?

QBI Deduction

Calculating FICA

How To Pay Yourself As An S Corp

Conclusion

Introduction

What is an LLC?

Naming the LLC

Get a registered agent

File Articles of Organization

Create the LLC Operating Agreement

Apply for an EIN

Get licenses/permits

Avoid mistakes & stay compliant

Outro

What Is an Llc

An Llc Is a Limited Liability Company

Llc's Limited Liability Companies Are New

Reason We Have Llc

Partnership

A General Partnership

An Llc That Just Has One Owner

Issues with the Llc

Tax Planning

To Form an Llc

IS THE LLC DEAD IN THE U.S.?

AN LLC IS PERFECT FOR NEW BUSINESSES

YOU CAN USE YOUR BUSINESS CREDIT RATHER THAN YOUR PERSONAL CREDIT

YOU NEED TO BE WORKING TOWARDS PROFITABILITY

SAVE MONEY ON YOUR TAXES BY SWITCHING TO AN S-CORP

LLC OWNERS DON'T TRULY PROCESS PAYROLL

DEDUCTIONS AS A SINGLE TAXPAYER

STANDARD DEDUCTION

LLCS MIGHT BE DEAD FOR YOU!

2 IMPORTANT CONSIDERATIONS

Introduction

Why Start an LLC

Name Search

Where to start your LLC

File Articles of Organization

The Operating Agreement

Follow the operating agreement

Publish Notice

Remember to file updated paperwork every year

Conclusion

When you are just getting started

When you are using your personal checking account for your biz

You are earning between $25-50k per year in profit

You operate a "high risk" business

You have partners

You are ready to get serious about your business

LIMITED LIABILITY COMPANY

HERE ARE SOME BASICS

LEGAL SERVICE PROCESS

PERSONAL ANNUAL INCOME TAX RETURN

RESPONSIBILITY

LIMITED LIABILITY PROTECTION

How is an LLC formed?

How are LLCs owned?

How is an LLC managed?

How are LLCs taxed?

Steps to forming your LLC in South Carolina

Name your LLC

Choose a registered agent

File Articles of Organization

Create an LLC Operating Agreement

Obtain an EIN

Fulfill legal obligations

Steps to forming your LLC in Utah

Name your LLC

Choose a registered agent

File a Certificate of Organization

Create an LLC Operating Agreement

Obtain an EIN

Fulfill legal obligations

Steps to forming your LLC in Nevada

Name your LLC

Choose a registered agent

File a Articles of Organization

Create an LLC Operating Agreement

Obtain an EIN

Fulfill your other legal obligations

Introduction

Choosing when and how to set up an LLC

No Risk Of Getting Sued

You Have Insurance

It's Too Complicated

Final thoughts

Conclusion

Choose a Name for Your Business

File some Information about Your Llc

Articles of Organization

Prepare an Operating Agreement

HOW TO START AN LLC

WHAT IS AN LLC?

KNOW WHERE TO FILE

LLC DOCUMENTS

BUSINESS LICENSE

FILE DBA

BANK ACCOUNT

Do you really want a business?

Have you validated your business idea?

What state to file in?

Choosing the right name

Protecting your privacy with a virtual address

Do you really need a registered agent?

BONUS Tip if you are starting a multi-member LLC