5 Costly Mistakes To Avoid Before Starting Your LLC

What are the five most costly mistakes to avoid before starting your LLC? In this video, I will discuss some of the most costly mistakes you can make when starting your own LLC.

These mistakes, from documentation to licensing requirements, will quickly add up and cost you money in the long run.

Learn how to become anonymous AND appear as if you own nothing at our Free Tax & Asset Protection Workshop.

"The purpose of that LLC is to create inside and outside liability." 3:13

If you're thinking of starting an LLC, then be sure to watch this video first! It'll give you the information you need to make the right decisions and avoid costly mistakes that will slow your business growth!

Starting your own business is an exciting adventure, but it can also be very costly. Therefore, I will teach you how to avoid common mistakes that can lead to expensive ones.

If you plan on starting your own business, you must avoid these mistakes to ensure your prosperity. Set yourself up for long-term success in your business career! By watching this video, you'll be on the road to success and avoiding costly mistakes!

Simply taking the time to watch this video, you'll avoid some common mistakes and save yourself a lot of money!

Everyone who enjoyed the video should also consider subscribing to this channel! You can also watch my other videos and get some helpful advice on starting a business.

Thank you for watching, and don't forget to share this with your friends!

Show Notes:
0:00 Intro
1:16 LLC Trilogy
4:35 Documentation
8:15 Managers & Members
11:01 Under Capitalization
13:20 Poor Record Keeping
16:27 Licensing Requirements
19:31 Outro
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ABOUT TOBY MATHIS
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#llc #llcmistakes

[sandramass]

So many people do not keep personal expenses separate from their business expenses. A business is not free money to spend as you wish - wrecks havoc with book keeping & balance sheets - especially if you have more than one business and money/expenses/income gets co-mingled!

[organizer]

Excellent reminder for new people going into business so they are aware of other things they need to do aside from setting up a LLC! Thanks!!!

[cynthiagelmirez]

Toby - you have to be one of most blessed people on this earth. ❤️🙏🏾

[Insight-Nobody]

Amazing! Thank you for doing such great work

[EricPardo]

Thanks Toby!
Great reminders as we grow and sometimes things get messy and start losing track of records, receipts etc

[janinevance]

Thank you for giving expert information 👏🏼⭐️

[christinewhelan]

Thanks Toby - I always learn so much listening to you ! Appreciate you so much ...

[terryjohnson]

Very wise advice. We decided later this year to make a appt with you.

[ovigada]

Question; for trucking & global supply businesses we have to have licenses and give personal guarantees in our industries. Is there ways to work with you to create my companies and have anonymity?

[entnous]

If I put each of our Colorado Airbnb’s (we’ve had them for a year or two, )in their own LLC, but later may want ( or need) to get a mortgage on a cabin we own outright or a “cash out refi” on the one house that has a small mortgage, will this LLC thing cause problems with trying to get a lender to do cash out refi? How long would the “seasoning period” be? And would the LLC be able to get a cash out refi or mortgage?

[Bull.]

Hi Toby, setting a proper LLC for a Offshore company (Small Family Business), roughly how much are we talking about $$? Thank you.

[dustoff]

Is an LLC the best for Sole Proprietor run business (no employees)? I would like to be able to buy and sell items and conduct consulting. Really appreciate your training. Tks for sharing.

[andrewferran]

What are businesses that are allowed to set up an LLC ? Personally I want to set up an LLC for brokerage account to buy & sell Stocks ?

[zerotodeal]

singed up with pcs. How should i ask them if I am the manger of my holdings LLC?

[seanfraser]

Does this apply for investment llc for stocks and real estate?

[iamanovercomer]

Isn't a S corporation better than a LLC for taxes ❓ Can one person be both manager and member ❓

[abBantu]

How would all this affect an investor and or trader in the stock market specifically if the trader/investor is a foreign citizen with USA LLC.

[eDENTECHNOCYBERHUB]

YOUR BIGGEST KENYAN FAN RIGHT HERE, 13/07/2023

[notlisted]

Can you discuss the differences between an S-Corp and an LLC Taxed as an S-Corp? I know one I think is that S-Corps get audited much less, but i'm sure theres much more. Thx!

[cesterly]

WY LLC to hold assets no income or business, hence no taxation.