Well, I’m married, so I got to respect my husband’s opinion(s), he wanted to form an LLC to protect his and mine current asset. So, I did my due diligent. I called 15-25 law firms, I lost count. Some of them, I called twice, even making the wrong call to closing/title company and such.
Anyhow, I’m going to do a short write up regarding how to form and LLC.
- I searched the web with keywords: “How to form and LLC”. So nolo.com and a bunch of other websites gave me some great results to start with.
- The second keywords search “how to form and LLC in [my State]”. I found out I could apply for an LLC online, and got the certificate in seconds. Paid $100 in fee.
- Applied for EIN so that I don’t have to use my SSN around. This process is done online too. No fee. Check!
Why and LLC – sole proprietor vs S-corporation?
Up and until this point, I’ve been still filing my own taxes. So, forming and LLC sole proprietor would allow me to do the same on the 1040. Without the liability to our personal assets in case we got sued. Sure!
There are some other great sources explaining different companies and corporations and restrictions with a few stroke of keywords.
How much did I save by filing my own LLC? $650-$1000. Geezz, a simple 2 minutes online filing and the lawyers would charge me that much? That some crazy stuff. Either way, by calling different lawyers, asking different questions, in the end, I got the general gist, plus my self-learning online, I was able to save some legal fee.
Hustle is key!
Even though the property isn’t supposed to close until the end of the month, I’ve put in some ads to see how’s things are going.
Some interesting things I’ve learnt is how to listed for commercial properties. More on this later. Until then, have a great day everybody!!
Did you create and S-Corp or LLC for your business? Did you DYI or did you go through a lawyer? Please share your experience or opinion.