5 Mistakes to Avoid When Getting your LLC if You're a Barber, Braider or Hair Stylist [UPDATED 2023]
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- čas přidán 23. 07. 2024
- If after watching this video you want to move forward with getting an LLC, here are my recommendation:
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DISCLAIMER
This video is for informational purposes only and may not be accurate for your unique situation. Before applying anything stated in this video, please consult with your tax or legal advisors. For unique tax situations, please consult with your tax advisor. Thanks for watching!
What if you have already made that mistake? Will you have to get another EIN ? Basically another LLC?
No, if you’ve made any of these mistakes, I wouldn’t get a new LLC…but depending on which mistake was made I might amend my existing LLC to make the change. Most states allow you to make changes to the LLC (at a cost of course). 😊
Thanks for responding. I have made the mistake of the address and the name of the company. Will it be best to create another LLC under those circumstances?
This is one is super information dude!!
glad you found it helpful!
Amazing information thank you so much for sharing
You’re so welcome! Let me know if there are other topics you want me to touch on!
I enjoyed this.
Glad you enjoyed! Make sure you’re subscribed so you get notified of new videos I have coming out.
You’re awesome!!!! I literally just made an account just to subscribe! I just started renting & have been searching for this exact info. Thank you, I can’t wait to watch all your videos❤
Awesome! Thank you!! This is one of my favorite comments of all time! ❤️
So glad i found your page! so much great and useful information, Thank you! I am a booth renter, should I use my salon address when setting up an LLC or a virtual address?
So glad you found the channel! I would use the salon address if you see yourself there for more than 1 year. You can always file an amendment to update the address later (plus it saves you some money by not needing to have a virtual address). I typically like virtual addresses for people who work from home and have no other physical option to put on the forms.
I'm not a hair professional but I stumbled across this video and I just wanted to share that this is VERY GOOD INFORMATION! I wish I would've had this info LIKE WHAT A REGISTERED AGENT IS before I formed my first LLC.
MISTAKES #4 and #5 ... please listen to that FIVE TIMES y'all! Trust me.
Thank you! I appreciate your kind words and emphasis on mistakes #4 & 5!
I have a question from new York city I'm moving soon how can I expand my business and make more money
If you’re a barber paying booth rent, does it also make sense to have a generic LLC name and then create a DBA for what you’re going to be marketing yourself as? It’s not your own barbershop, but your own brand.
Yes, absolutely!
I have a question, in California, it says you cannot get an LLC for professional services provided. Is that the case for a hair salon? Would I need to be an employee of the llc to get paid?
Hey Eddie! I'm aware of the no LLC law in California and I'm actually reaching out to some lawyers to get clarification on how this impacts barbers and stylists (i'll do a video when I have more information). But yes, would would need to be an employee of the LLC (taxed as an S-Corp) or Corporation in order to be paid as such.
Same question I had 😢
I’m only 2 years licensed and I’ve been given an opportunity to become a renter and or commission towards renting
That’s awesome! In which direction are you leaning?
I am a hairstylist and I have created an LLC for that. I am creating a website where I sell hair, wigs, etc. under another name. Should I create new LLC or a DBA?
I just uploaded a video about this exact thing! Check it out here: czcams.com/video/B7kUFCWfzyE/video.html
How do you combine being a cosmetologist and having a beauty company LLC selling clothes, hair, lashes?
Do you mean you're doing hair and inside the same location you're selling clothes, hair and lashes under the same brand? Or you're a cosmetologist with a separate beauty company selling products?
Also my question it is possible to combine on one LLC brand doing hair braiding and selling clothes and beauty supplies on same location? The second question is has a home braider is it bad to get an LLC with my apparemment adresse with I’m planning to move after some months or year to keep being home braider?
Other questions what if I have my LLC on my home address and I want to move to a shop should I just change my LLC adresse to the shop address or get a new LLC?
@@rajouterlesavoirsanteetbeaute hello! i think you're talking about protecting each part of your business...and for ;legal protection, it would be best to discuss with a lawyer. For financial reporting purposes, it would depend on if these are divisions of the same business or separate businesses. To answer your second question...I don't like using home addresses for LLC (doesn't matter if it's an apartment, condo or house). If you do business from home, I would get a virtual business address for the LLC if your state allows it.
@@rajouterlesavoirsanteetbeaute definitely update the address and don't start a new LLC just for an address change. :)
How does it work if you get an LLC for a hair business with a friend?
You and that friend would be considered a multi-member LLC. And since there's more than 1 person, you'd want to make sure you discuss how the business will be operated, the number of shares you each have, what each person is responsible for, etc.
What if you already made the mistake (mistake #4) how to do you fix it?
That particular mistake is a personal preference of mine, but I would see how much your state charges for a LLC name change amendment.
@@TheHairCEO ok, just did. It’s 100.00 150.00 expedited
It’s something that you said because I have a few business credit cards with the name of my shop on them with my name of course
I really appreciate how you break everything down. It makes so much sense to me now 🤍
thank you! I appreciate the feedback! :)