If for any reason the above Odysee video has any playback issues you can find the YouTube version here.
I was asked today about LLCs and Corporations yet again today. As always I answer this question first with the advice of “talk to a CPA and likely a Tax Attorney”, before you move forward. This question also asked if sites and services like “Legal Zoom” were okay for filing as an LLC. There are really a few questions in this one or at least there should be. To me we need to answer the following here….
1. What is positive and negative about using a site like Legal Zoom
2. Why you need to at least consult with an attorney before you file
3. Why many sole proprietors don’t really need an LLC and why it won’t do what many think it will
4. The advantages of doing business as an LLC from an accounting perspective
5. Why I do always recommend at least and LLC for partnerships
6. An example of a hidden gotcha when it comes to LLCs/Corps