Avoid These 6 Common Legal Business Mistakes || how to avoid common business legal problems

[@ElizabethPW]

If you have a California LLC/Corp, check out the status of your biz to make sure it still exists (and doesn't have problems): bizfileonline.sos.ca.gov/

[@Tiffany-RemoteOfficeGirl]

Great information and I had not thought about that with the renters insurance and personal versus business related items.

[@seydoutraore8279]

wow these videos are so helpful, thank you!

[@ElizabethPW]

Glad they are helpful!

[@chrishoskins8782]

More great info! Thanks!

[@ElizabethPW]

You bet!

[@deannamcgrew6288]

I love your videos. In reviewing the application for a business license in my city of San Jose, the form asks for an NAICS. Can you please touch on this somewhere - there are 1 million choices. How do choose appropriately?

[@ElizabethPW]

The short answer is that it's not super vital and most businesses could go in more than one, just pick something that is logicial

[@mariaklochkova4363]

Hello Elizabeth, I’m doing personal training business in Sunnyvale, California for about 4+ years, and watching your channel I have realized!!! Somehow I’ve made one of the mistakes you mentioned in this video - I don’t have a business license!!! Sunnyvale does require it! I just didn’t think I need one 🤷🏼‍♀️ I was filing taxes for my income with my husband as self-employed. What should I do now? Go and just apply for a business license? Or take a consultation with an attorney/lawyer? Thank you in advance, Maria

[@ElizabethPW]

I'd apply for the business license but if you work from home you'll also need a home occupation permit too www.sunnyvale.ca.gov/home/showpublisheddocument/866/637819283040830000

[@mariaklochkova4363]

Elizabeth - thank you so much for your quick response! It’s precious you keep in touch with us here 🙏🏻 I will! I have one more question/concern. Is it possible to DM you?

[@mariaklochkova4363]

@@ElizabethPWI got it, I joined you on Patreon! 🙂

[@davidswestcoastpainting8510]

hello Elizabeth, when you mention business insurance, are you referring to Liability and workers comp? many thanks in advance

[@ElizabethPW]

Business insurance includes liability, property, might include worker's comp, might also include other types (auto, professional liability, errors and omissions, etc.)

[@helpyourcattodrive]

Ty❤

[@ElizabethPW]

Welcome!

[@FunnyVideosLover]

Thanks for the great info. Independent contractor who have an LLC in one state and pay state taxes but have a contract in another state where state tax is not applicable --can they get paid as sole proprietor instead through LLC to avoid having to pay taxes in home state or 1099 income is taxable regardless ?

[@ElizabethPW]

So generally the state where you are a resident will want you to pay income tax on all your earned income, from everywhere. If you had to pay income tax on income in another state, you could get a credit for that on your resident state income tax return (so you don't pay double tax). But that would not be true if you don't have to pay taxes in the other state. Best option though is to talk to a tax person to get specific advice for your exact situation to see if something can be set up that might help (perhaps changing to S Corp tax status instead of sole prop, for example) to save on taxes.

[@shyrelaneskinner5]

hello are you going to do another Q&A? I have a defiantly question

[@ElizabethPW]

I typically do Q/A's on YT about once per quarter (so it will be a while). I am going to do q/a's much sooner on the new discord: discord.gg/S2JGUrp8 so you can check that out

[@violethurtado913]

do you fix corporation that is none active due to not filling and someone took over the name the sos is giving me a run around i cant get in to change my biz name

[@ElizabethPW]

If you have a corporation that was administratively dissolved, then after a certain amount of time someone else is allowed to file a corporation using that name (because the name is not reserved anymore). Before you can change the biz name on the old corporation, you'd need to bring it back up to status by filing any late filings, paying any late taxes, etc.

[@miracleworkshop5004]

I'm in Los Angeles. I just made an online service business. we sell digital downloads. I just sold my first download for $149. It has taken me two months to set up my website (never done it before) and get all of my privacy forms and analytics together. The payment just went to my Stripe Payment Account. When do I need to file my business with the state? I haven't filed anything yet. will I incur any fines if I accept payments before filing? Is that illegal to perform the service before filing? please let me know I can't find any videos you made on that. Thanks.

[@ElizabethPW]

I assume you are a one-person business? Then you can just stay a "sole proprietor" where you don't register with the state. You may need to register with your city (or county) to get a business license / tax certificate -- check the website for your city/county.