Do This Before Setting Up an LLC

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TAKING THE NEXT STEP:

Countless entrepreneurs will set up LLCs this year in America. However, a large percentage of them will make critical mistakes that can slow them down significantly. If you are thinking about setting up an LLC, then you are far better off knowing which mistakes to avoid before you get started.

In this video, tax expert Karlton Dennis breaks down all of the key mistakes you should avoid when you are setting up your LLC. He also explains everything else you should do before you set up your LLC to make sure that you do not run into key problems that could interrupt your LLC’s growth.

Topics that Karlton discusses in this video include which state you should set your LLC up in, virtual addresses, doing bookkeeping correctly, and more. Whether this is your first LLC or your fiftieth, it can be extremely beneficial to know LLC setup best practices in order to get your business up and running smoothly.

CHAPTERS:
0:00 Intro
0:20 Set Up Your LLC in Your Own State
1:35 Buy a Virtual Address
2:49 Set Up QuickBooks the Same Day You Start Your Business
4:00 Leave Your Name Off Your LLC
5:46 Have a Lawyer Create an Operating Agreement Before You Start Making Money
7:11 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#llc #smallbusiness #taxstrategy #entrepreneur

[gospelofyashua]

Excellent Info. I watched your videos a while ago, before I established my LLC & Non-for profit organization. Thank you Brother for sharing your knowledge. Peace and Blessings unto you & your family & team.

[tntdashow]

I appreciate all your info!!! Just received my official LLC letter

[oleggrishchuk]

Just found your channel...im binge watching....bc they didnt teach us this in school

[donnagayle]

Karlotn you just don’t know how I value your videos just started my LLC bought van and didn’t put it in my LLC name you are clear cut and no nonsense great presentation awesome

[aldorodriguez]

I was literally going to open my LLC tomorrow and put my name on it… now I got some thinking to do 😂

[ShotbyFlash]

Great video man no fluff, to the point with animations to keep ppl focused . Appreciate you bro 🤝🏾

[megaheat]

I love your content. Thank you for the info.

[koy-uc]

Good points, anyone looking to find your info by looking up your name on the Secretary of States website to find your home address has malicious intent. God Bless everyone 🙏

[lyndastarwriter]

How'd you know I've been researching this and that regarding an LLC? You just answered ALL of my questions.

[ScottJLetourneau]

A great list and I would add have your LLC managed by managers, not members. This protects the ownership information in state records.

[darnelljrvereen]

Need to reach your team! This is awesome 👌🏾

[nandishmehta]

@Karltondennis: Big fan of your work. Thanks for making this video. Had a quick question for you: If I use a virtual address of my LLC how can I take a home office deduction?

[VictaSpot]

very informative thankyou and i just subscribed iam a baby starting out in my own business

[tiffanyspeaksout]

I’ve already made a few of these mistakes HELP? Can you be my mentor please?

[jeremyredandblueify]

I was told from other business credit advisors to keep names Generic for funding purposes. Don’t type cast your company name

[MrCovert]

Dammit I just set up my LLC in California today! I just saw this video and put my address smh. Can I modify my address to a virtual address?

[henrywan]

Hi, just say if I’m going to use a virtual address for the business, can I still deduct home office, utilities etc expenses from the home where I actually conduct businesses?

[prophetseven]

You can not look inside someone house. You can look at the outside though and where it is at.

[thomasdietz]

I think I've broken most of your rules... How does this relate to a Photography business? My business is my name and three rooms in my home are dedicated studio space and home office.

[Tariq-young]

Can you change the address to your business if you have just got a virtual address for your LLC ?