HOME
Accomplishing a goal, setting up a LLC.
One of my goals this year is to grow into a Limited Liability Company (LLC). I want to become more professional as an Internet Publisher. How I see it… If you want to achieve a goal, you need to talk to someone that has already accomplished that goal, which is why I talked to Jon Waraas about setting up a Limited Liability Company because he has already setup four LLC before. He was very nice to talk to and helpful. He even sent me the document that I needed to fill out.
With my next months Internet income, I’ll be setting up a LLC. The complete process should cost around $100 but I’ll be putting aside $200 for any unexpected expenses… After finished with the setting up a LLC, I’ll be contacting the IRS to receive a tzx id number. When all that is finished, I’ll be contacting some accountants and lawyers to find one of each that I get along with. I’m looking forward in experiencing this educational journey and becoming an actual company.
What is a LLC?
A Limited Liability Company is a legal form to separate the owner in the United States. It will allow me to obtain a Tax Identification Number, open a business bank account, and perform business transactions under the company’s name. the main advantage of LLC is that the owner (me) will not be held personally liable for liabilities and debts. There are also tax advantages that allow me to spend the companies expenses with pretaxed income.
I’ll keep everyone updated on my process of getting a LLC.
March 7th, 2007 at 6:02 am
Good luck with setting up the LLC Bob, keep us updated
March 10th, 2007 at 2:44 pm
Hey Bob, how much are you making from game of the day now?
March 15th, 2007 at 11:37 pm
Hey Bob,
It sounds like you’re taking this to the next level. Way to go!
March 16th, 2007 at 3:55 am
Ill help with whatever you need help with. Like I said, buy the LLC, then talk to a CPA. Most CPA’s dont charge for the first time they talk to ya, take advantage of that!
Its not a big process, unless you want to go totally professional and have a lawyer write up a bunch of random forms for your “business”.
Once you set up the LLC, go get a bank account and start doing EVERYTHING under your company name