How to Start an LLC?

CHAPTER 1 - INTRODUCTION TO STARTING

Want to learn how to start or form an llc online?

You’re in the right place!

The short answer is :

1. Find a service provider
2. Select a state
3. Fill out the necessary forms

Sounds easy enough?

For the long answer, if you read this guide then you’ll understand these key points:

1. How and where to start an llc
2. How to choose the best service
3. How to fill out all the forms
4. How to maintain your business

Let’s learn the basics

Registered Agents   (what exactly an llc is and what it accomplishes)What is an llc? (why do people form llcs, what is it? etc.)DBA vs LLC (which is better for you, pros and cons)How much does it cost to start an llc? (all areas where there can be fees for an llc)What is an EIN?Articles of organization

CHAPTER 2 - CHOOSING A SERVICE: WHICH IS THE BEST LLC SERVICE

This is the most complete guide for finding an llc service.

So if you want to:

• Create an online llc that works SUPER well
• See an example of the best llc service
• Register your personal business asap

Then you’ll love the detailed strategies in today’s guide.

I understand. There are so many llc formation services out there in 2021. It can be a real problem to figure out which is the best for you and your company’s needs.

Well then, you’re in luck. We did the research for you.we  went through all the details of every single llc service to see just how helpful they actually are.

Link to list of services (best most trusted sites to… something like that) (Below, we listed exchanges you can use to purchase BTC. We suggest our listed exchanges and doing your own research before making your final decision.

Certain exchanges are simply there to steal your personal information or rob you of your bitcoins.

We conduct intensive research on every exchange we list to filter out any and all dishonest exchanges.)

CHAPTER 3 - THE MOST EFFICIENT WAY TO FILE YOUR PAPERWORK

This chapter is a list of the legal forms that should be filled out when forming an llc.

Some Are free…

…some are cheap…

…And some cost a little more.

So if you want me to take you step by step and help you fill out the paperwork the right way, this chapter is for you.

“Testimonial”

1. Name reservation (look for screenshot for keywords)

The #1 goal of reserving a business name is to BUY TIME. It’s a big deal to name your  new business. It impacts basically everything connected to your business. Sometimes , you might need a little more time to find the perfect name that represents your company.

Click the link to  reserve a name for your business

Link to how to reserve an name for your llc… or something like that

2. Registered agent (look for screenshot for keywords)

It is like this – if you have a business, you have a registered agent.

An LLC registered agent is an individual or entity whose purpose is to accept any documents or official mail on behalf of the llc. You can appoint yourself to be responsible for this or you can…

…or you van use a service to serve as your registered agent

For an in depth analysis click the link below of registered agents

Link for registered agent service for example: https://www.legalzoom.com/business/business-operations/registered-agent-overview.html

If you want peace of mind, it might be in best interest to hire a registered agent. Link to registered agent service They’ll make sure your up to speed when it comes to the law

3. Articles of organization

You’re about to make your business official!!

Each state has its own way and process for forming an LLC. you will have to fill out things like:

• name and address of yourLLC
• length of its existence, if you do not plan on keeping it forever
• name and address of your registered agent
• purpose why you formed your llc

Generally only the person forming the llc must sign but in some cases the registered agent must sign as well

In most states, you’ll file LLC formation documents with your secretary of state, but some states have different departments that handle business filings. All states charge a filing fee, but the LLC cost is different depending on the state.

AND WITH THIS YOU HAVE SUCCESSFULLY FORMED YOUR OWN LLC!!

(https://www.legalzoom.com/articles/what-are-articles-of-organization)

4. Register to Do Business in Other States (optional)

This is optional, you don’t have to do this. But, if you want your llc to operate in more states across the united states, you may need to register in order to do this. You will need to fill out more paperwork. You will also need a separate registered agent in every state you do business in.

CHAPTER 4 - SECURE YOUR BUSINESS: GOT AN LLC, NOW WHAT?

If you want your llc to function properly, there is one simple rule:

You need to take care of it

When you do, you will not get blindsided by anyone or anything.

The question is:

How do you do it?

Use the simple strategies from this chapter.

1. Operating agreement (look for screenshot for keywords)

This is SUPER important!!

Even though most states don’t require this document, It puts in place the business’ structure.  The purpose of this document is to set forth the way the llc will be operated, according to the needs of the owner.

The document specifies but are not limited to:

• How much each member owns
• Voting rights and responsibilities
• Responsibilities of members and managers
• How profits and losses are distributed
• Holding meetings
• What to do in case of a death with in the llc

Create link for more in depth explanation of operating agreements

2. Get an employer identification number (EIN)

An ein or employer identification number is basically like a social security number, except for your business.

It’s simple. If you have an llc –

You have to get one.

Every llc in the nation needs one in order to legally operate.

It will help you get a business:

1. bank account
2. Credit card
3. loan

Apply for an ein for free at the irs website (link to irs website) and instantly receive an ein.

You can also apply through an online service (link to online service) or by mail or by fax. Once you have your EIN, utilizing an efficient online tool to generate pay stubs can greatly simplify payroll management for your LLC, ensuring your financial documentation is accurate and professional.

3. Open a business bank account

Just realize this.

This is meant to not only protect you, personally, but your business as well.

Keep the two separate

This will help you:

1. Protect your personal assets
2. Simply taxes
3. Many banks offer perks for business owners.

Getting this done will enable you to receive checks and payment directly through your business name.

You will feel so secure.

To start, check out the best banks for entrepreneurs.

(link for best business bank accounts…)

4. Register with your state and obtain a sales permit (if needed)

You may not need this,

But in most states, you will need to register and pay specific state business taxes.

The list includes:

1. Income tax
2. Employment tax
3. Sales taxes

You may also need to get a sales permit. This will allow you to sell products or services and collect sales tax.

Be sure to research what specific permits your business needs.

5. Get your business license

Welcome to life.

Depending on what your business entails, you may need a local or state issued license.

It’s not so hard to figure out whether or not you’ll need one. Research by talking to a town hall member or local competitor of yours will get the job done.

6. Secure your business name

Do not learn this the hard way!

Don’t be the guy who receives a letter in the mail one day stating that you are doing  business under an already trademarked name. That will suck. Believe me. Make sure this guy won’t be you.

CHAPTER 5 - FREQUENTLY ASKED QUESTIONS

If you’re still a bit confused, that’s okay. Buying bitcoins is hard, but that’s why I built this site, to make it easier! If you still need help, I hope this FAQ will help to answer any remaining questions.

What’s an llc? What’s a limited liability corporation?

A Limited Liability Company (LLC) is an entity that limits an owner’s liabilities. When you form your company as an LLC you are basically separating your personal assets from business assets. Plus,  it provides pass-through taxation benefits. ‍

What are the tax benefits of llcs? How does an llc help with taxes?

It really boils down to being looked at as a “pass through” in terms of taxes, which avoids “double taxation”. This means the actual corporation doesn’t pay federal taxes themselves. Rather, all earnings are ‘passed through’ the business directly to its owners. Only these owners pay taxes aka individual income tax.

In what state should you form your llc?

When forming your llc, you can choose to form it in any state you want. You can do it in your home state or in any other state.

Generally, people form their business in their home state but there are pros and cons for everything.

Do research to find the BEST option for you.

Link to article with this https://www.legalzoom.com/articles/which-state-should-you-file-your-llc-in

What are the costs of starting an llc? How much do llcs cost?

In terms of starting an ln llc, the main cost is the filing fee.

This can range from $40 – $500, depending on your state.

There are two options for forming your LLC:

• You can hire a professional LLC formation service to set up your LLC (for an additional small fee).
• Or, you can use our free Form an LLC guide to do it yourself.

Use links just like this.

Other processes may cost you as well.

Link for other costs of llc, name reservations, etc.

https://www.nolo.com/legal-encyclopedia/how-much-does-it-cost-to-form-an-llc.html

What are the key documents involved in forming an llc?

There are several documents when starting an llc.

But it boils down to 3 documents – link to 3 must have documents

1. Articles of organization – your company’s information
2. Operating agreement – tells you how the business will be governed
3. Employee Identification Number (EIN) – your company’s social security number

What can I name my llc? Can I name my business anything?

You can name your business whatever you want. It’s your creation after all, isn’t it? However, it must be different enough from the names of other entities in the state filing office.

If the name of your choice does not comply with your states guidelines, the state may refuse to file your documents that would form your llc.

Link to tips how to choose the perfect name for your business

https://www.wolterskluwer.com/en/expert-insights/3-tips-for-naming-your-business

How are llcs owned and managed?

Ownership in an LLC essentially entitles the owners to a percentage of the LLC’s profits, losses, and cash distributions. Owners also have the right to vote on various business decisions on behalf of the LLC.

It really boils down to how you choose to govern your business, which can be done in the operating agreement The LLC can be managed by one managing member, a group of members, an outside manager, or by all the members.

Learn the difference between member managed and manager managed: https://www.nerdwallet.com/article/small-business/member-managed-llc

Again all this is done in the operating agreement. Bottomline , the operating agreement is “the constitution” of your company.

Does my llc need a board of directors?

No. an llc does not have a board of directors , which is required for corporation.

Link to differences between llc and corporations

What is typically contained in an LLC operating agreement? What does it say in the operating agreement?

This sets forth the business’ structure.  The purpose of this document is to put in place the way the llc will be operated, according to the needs of the owner.

The document specifies but are not limited to:

• How much each member owns
• Voting rights and responsibilities
• Responsibilities of members and managers
• How profits and losses are distributed
• Holding meetings
• What to do in case of a death with in the llc

Create link for more in depth explanation of operating agreements‍

What are some disadvantages of an llc?

• Investments: Not many people will invest in an llc as the prefer c corporation
• Transferring ownership: the ownership of an llc is usually much harder that transferring the ownership of a corporation
• Cost: to form and maintain an llc cost more than that of a sole proprietorship or general partnership

Link to pros and cons of forming an llc

https://www.wolterskluwer.com/en/expert-insights/how-to-form-an-llc-what-is-an-llc-advantages-disadvant