Do You NEED a LLC? My Answer to this for 2023!!!
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- čas přidán 16. 06. 2024
- 💰Hey Future Millionaire!
Your Favorite Business Coach is BACK, and in this video, I'm answering a question I've been getting from A LOT of ya'll. Do you NEED a LLC for YOUR BUSINESS (especially at the beginning)? It's time for us to put this to rest. Let's get into this video so you can see where I stand on this. 💯
Want more? Check out my blog post here: www.ellievatedacademy.com/pag...
This video includes:
✅ Why you NEED a LLC to PROTECT YOURSELF
✅ What's the TIMEFRAME You Need to STICK TO When Filling Your LLC
✅ What "COMMINGLING" Means
... plus so many more #elliegems 💎
On my channel you’ll find videos all about scaling your business, business credit/funding, tax write offs, social media strategy & weekly uploads of my podcast, Get Ellievated!
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Love y’all & see you in the next video!
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Timestamps:
0:00 Intro
1:01 Why you need a LLC to Start Your Business
4:28 How to File for a LLC at a Reduced Cost
7:07 Building Business Credit
7:33 DBA
9:09 Final Thoughts
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👩🏾💻 Get Your Business Credit RIGHT by using these links:
Nav.com (the credit karma of business credit)
CreditStrong.com (build business credit with your EIN)
ECredible.com (build business credit by reporting to TransUnion using Business Lift)
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✨ELLIE DIOP✨
After losing her corporate job during the pandemic, Ellie Diop (better known as Ellie Talks Money) used her $1,200 stimulus check to build a multi-million-dollar online coaching business in just one year; now she’s teaching other millennials how to do the same.
Today her online academy, Ellievated Academy, serves over 50,000 students. Ellie is committed to helping others overcome their circumstances and build successful businesses.
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THANKS, MISS ELLIE FOR THIS WONDERFUL BUSINESS INFORMATION, I WON'T DO ANYTHING WITH OUT IT, THANK YOU SO MUCH
Ellie recommended me to set up my LLC with incfile. They are great. Thank you so much Ellie. Now, working on the credit which is a lot because I am new. And on grants as well.
love to hear it sis!!
What if you opened an eCom gift shop business as a sole proprietor and now ready to get an llc and later open other Ecom store businesses not related to gifts. should the llc be the name of the gift store? Or get an llc name related to Ecom and then get a dba under the gift shop name?
Thank you. Great INfo.😊
I heard about California having free LLC's. I wish Texas had the same. I just applied last week, so now I'm waiting.
Thank you so much Ellie 👏🥰
Thanks for the information.
I don’t have a LLC, trying to figure my name out, great information, thanks
Just found out I need to file a DBA form for BSL Skin. Thank you Ellie! 💙
Thank you 😊
Hey Ellie, can you elaborate more on Quick Bucks!! (If you don’t have a video about it already) Thank you!
Hey sis, QuickBooks is an online financial tracking tool. It's a place for you to send invoices, receive payment, do taxes etc. Hope this helps!
Looking to form an LLC using my longtime social handle (to make things easier lol), could I use a DBA with my full/legal name and attach it to the LLC or is that not recommended?
You mentioned not adding multiply LLC;s under one if business is completely different. I currently have a LLC under a retail category; would I add a Wedding Coordinator services to that or have a different one separate from that?
Hmm well are you selling wedding related products in your store? If so then it’s in alignment and you can use the same llc but if not I would recommend a new one
Hi! So as soon as I have the receipt for the LLC I can begin keeping records of deductions before I officially get the document?
yes!
Hi Ellie- I’m looking to buy a piece of land for my business. But when I get it, I’m going to need to build my business credit first in order to get the funding to build structures on the land. Can I start my business concept selling online with an LLC first? And then transition the business to a physical location?
Hey sis, honestly I can't answer that question right now. BUT I'll drop the link for my 1 on 1 coaching waitlist and hopefully we can talk more then:
www.ellievatedacademy.com/courses/one-on-one-mentorship
How much money you have to make to do a Lcc?
What do you need if you are currently just making money doing videos/reels on social media but may sell products at a later time.
You need a LLC sis
@@EllieTalksMoney Thanks.
Oh my, I didn't know about California. Thank you Ellie!
Hey Ellie, it makes total sense about not having multiple businesses that are not related under one LLC, but do you need different EIN for each LLC? Thanks
If you have multiple businesses that are not established as legally separate entities (LLCs), you can use the same EIN for all of them, even if they have different trade names or “DBA” names
@@EllieTalksMoney Got it! Thank you 😊
I've never heard of a DBA before so could you explain what the benefits in the cons are having a DBA and if it's even necessary
It's just another name you use to do business with. Like, if your LLC's name is A Great Name LLC and you market your business as A Different Name then THAT would be your DBA name. Hope that makes sense!
what about owning an llc for an event space or photography or dance company . Is it worth getting an llc then?
absolutely!
What do you think about legal zoom?
They're great
Why do they say single member LLC's are the same as a sole proprietor?
That would only be true if the LLC wasn't registered on a federal level
@@EllieTalksMoney So if you get your LLC through incfile is that on a federal level?