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BugsJustFindMe 57 minutes ago [-]
> "An LLC will help you force a separation of personal and work finances"
No it won't.
> "it’ll help you accept payments"
No it won't.
> "or sign up for a bank account"
No it won't.
An LLC doesn't make those things any easier than they already are (very easy) as a sole proprietor.
An LLC only does the liability thing. And that's fine. Just don't make other things up. You don't need to.
poody 39 minutes ago [-]
An LLC does help with getting a proper EIN and DUNS number which helps greatly in establishing trust in a relationship with a new client.. Yes it absolutely helps with accepting payments.. having an EIN is necessary in many cases..
No it doesn't. Sole proprietors can get DUNS numbers just fine. It's literally the first option when you tell them how your business is structured right after telling them your name and email address.
> "Yes it absolutely helps with accepting payments"
A billion people accepting payments in every possible form without being incorporated say that you're wrong. No method of payment processing, from credit cards to memecoins, cares whether you're incorporated.
> "having an EIN is necessary in many cases"
Again, getting an EIN and forming an LLC are completely unrelated.
eadwu 49 minutes ago [-]
It doesn't force you to do anything, same as a sole proprietor.
What it does do is that since it provides a rigid structure, it compels law abiding citizens to do those actions, not forcing still.
You would have a hard time proving liability if you didn't have separated finances.
BugsJustFindMe 25 seconds ago [-]
Forming an LLC doesn't make separating finances any easier. You should separate finances as a sole proprietor too.
_Bruno42 14 minutes ago [-]
LLCs are great, but you should be aware that single-member LLCs may offer less liability protection than you expect, and in some circumstances it can be easier to pierce the corporate veil.
thatslast 6 minutes ago [-]
As someone living in Taiwan, can I set up an LLC and get all the benefits of it?
I now have a Singapore entity that helps me out for getting a Stripe account mainly.
OutOfHere 21 minutes ago [-]
A question is: where do you register one? Should it be Caymans or Panama or South Dakota or Texas or Delaware or your home state?
Also, what type of LLC should it be?
socializer 5 minutes ago [-]
Depends on what's your goal. Privacy and the least amount of paperwork? Probably a place like Wyoming, where your annual report is a single page saying "yeah I'm still alive". But if an LLC will usually need to be domiciled in the state it's doing business in, so if it's a pain-in-the-butt state like California, might as well register it here, because you're not escaping their fees and paperwork.
Delaware is for big companies.
charcircuit 48 minutes ago [-]
>Cost-wise it’s maybe $500 a year, all in (unless you have the pleasure of living in California, in which case you have to add their inane $800 on top). But that’s pretty reasonable considering the optionality it gives you to just… build shit these days.
You don't need an LLC to build things and sell things. And you also get the downsides of needing to stay at an office to be able to be served or having to have your active home address be publicly viewable.
holman 41 minutes ago [-]
That's specifically the $100 of the $500/year fee; you pay for a registered agent to handle all that for you (and shield your address).
39 minutes ago [-]
sitzkrieg 37 minutes ago [-]
additionally many RAs offer mail forwarding/virtual offices (that can even accept deliveries) for pretty affordable , eg northwest registered agent offering seemingly millions of sheridan wy suites
dsschnau 3 hours ago [-]
Well if nothing else I feel a bit better having an llc sitting around doing nothing.
kingkongjaffa 2 hours ago [-]
whats the uk equiv?
robotresearcher 1 hours ago [-]
A ‘Registered Limited Company’, as in ‘Widgets Ltd.’. Per the ‘Limited Liability Companies Act’ of 1855.
monster_truck 1 hours ago [-]
Why does everything need to make money so bad, this is terrible advice
holman 43 minutes ago [-]
"Everything" doesn't need to make money so bad. But if you're interested in making money on the internet, this is good advice.
No it won't.
> "it’ll help you accept payments"
No it won't.
> "or sign up for a bank account"
No it won't.
An LLC doesn't make those things any easier than they already are (very easy) as a sole proprietor.
An LLC only does the liability thing. And that's fine. Just don't make other things up. You don't need to.
No it doesn't. Sole proprietors get EINs just fine, and it only takes minutes. https://sa.www4.irs.gov/applyein/
> "and DUNS number"
No it doesn't. Sole proprietors can get DUNS numbers just fine. It's literally the first option when you tell them how your business is structured right after telling them your name and email address.
> "Yes it absolutely helps with accepting payments"
A billion people accepting payments in every possible form without being incorporated say that you're wrong. No method of payment processing, from credit cards to memecoins, cares whether you're incorporated.
> "having an EIN is necessary in many cases"
Again, getting an EIN and forming an LLC are completely unrelated.
What it does do is that since it provides a rigid structure, it compels law abiding citizens to do those actions, not forcing still.
You would have a hard time proving liability if you didn't have separated finances.
Also, what type of LLC should it be?
Delaware is for big companies.
You don't need an LLC to build things and sell things. And you also get the downsides of needing to stay at an office to be able to be served or having to have your active home address be publicly viewable.