just starting this whole process since business is picking up. trying to avoid all mistakes! thanks for your help!
@jimhart4 жыл бұрын
You are very welcome! Let me know if there is anything I can do to help you out!
@drizzydre4963 Жыл бұрын
Was you able to figure out how not to make mistakes cause im lost still.
@oaomai3 ай бұрын
dont you just love little ethots that think they run a business lmao your YT Channel isnt a business hon
@oneofgodschildren Жыл бұрын
Omg not an Ohio state coffee cup💔🤣🤣🤣🤣
@ELITEBODYDATATV5 жыл бұрын
Hey Jim! What a great video! Kudos to you for providing free advice that will save people loads of headaches. You are totally correct that you need a business account. *SUBSCRIBED
@jimhart5 жыл бұрын
Thanks!
@YakMotley5 жыл бұрын
Great video! Could you do one on operating agreements and Indemnifying (or giving ownership) of a KZbin channel into a LLC Entity?
@jimhart5 жыл бұрын
Here’s one on operating agreements - Starting an LLC: You Need an Operating Agreement kzbin.info/www/bejne/eYS9eICipcanf9k
@jimhart5 жыл бұрын
Not sure I understand the other part of your question?
@Nico-pl6sf Жыл бұрын
Thank you, you are great on screen
@WorkingWithWimberley3 жыл бұрын
Can you explain how having a virtual address and listing yourself as the registered agent is a problem? Having a local virtual address gives me access to all of the mail. And the virtual address location will be open during normal business hours. So what’s the problem?
@juliusgautier22483 жыл бұрын
I liked as soon as i saw ohio state
@ThisisZZTV5 жыл бұрын
This video was very beneficial!
@jimhart5 жыл бұрын
Thank you!
@stratepaper85084 жыл бұрын
Yes it was 💯🎯
@fredmyers22444 жыл бұрын
@@jimhart I'm looking to start my own LLC anyway you could give me a helping hand
@orangetree245 жыл бұрын
Been wanting to get a CapOne Spark checking but we can only open an account in a branch and they don’t have one here in my area :(
@timbustle57583 жыл бұрын
Great video as I look into starting my own LLC for being an independent contractor...very valuable!
@netbrown30 Жыл бұрын
Thank you
@MrJaylassiter4 жыл бұрын
Mmmm.... first time hearing about a registered agent. Thank You!
@cyah987 Жыл бұрын
Thanks for the video! I just formed and LLC and a week later, received a letter from OSHA asking for $300??? Has anyone had this experience?
@ItsQueenBaker5 жыл бұрын
Thank you for this I’d love to have you help me with creating my LLC in New York
@jimhart5 жыл бұрын
And we would love to help you! You can contact us at www.hawthornlaw.net/consult
@pamwoodruff3 жыл бұрын
I have had a single member LLC for many years, this was the single MOST VALUABLE bit of information that I have heard since creating it in 2006. I had an attorney set it up, he never discussed any of these bullet points! Fast Fwd to 2020, public record, rental houses, used personal address, no registered agent, lesson learned!! I was selling everything (4 sold in 2020) & going to start investing in out of state properties. This Video is a game changer for my little real estate, single member, LLC. Thank YOU! I have 3 brothers, 3 sons, so burp, fart & sneeze away! Not offensive, just real talk, real life, appreciate you sharing your expertise with everyone that can use this info to save our butt from legal issues down the road! Oh yeah...one more thing, ROLL TIDE!
@bmcdonald7303 Жыл бұрын
Roll tide!
@minheechoi59823 жыл бұрын
Do RA allow businesses to use their address as their business address to keep home addresses private for online business?
@SouthpawAutoworks4 жыл бұрын
The part that stuck out to me the most, was regarding the Registered Agent. Who wants to be stuck at home Mon-Fri during business hours??? No errands, vacations, etc. Sounds like house arrest. ha. Thank you for the education, Jim.
@pablofalero25705 жыл бұрын
Consindering file out of state for insurance reasons in trucking florida rates are close to 15-20k a year and in some other states u can get rates of 6800-12k
@zacanderson32619 ай бұрын
Great video. Forming mine now. Thank you
@luisperez74205 жыл бұрын
Sir, can your firm help getting an LLC In the state of Oklahoma?
@jimhart5 жыл бұрын
Yes
@ThisisZZTV5 жыл бұрын
Do you help individuals in the state of Texas?
@jimhart5 жыл бұрын
It depends. What do you need assistance with?
@ThisisZZTV5 жыл бұрын
Hawthorn Law Forming my holding company in the state of Texas
@jimhart5 жыл бұрын
Yes, we can do that. :)
@NH-hp2nn2 жыл бұрын
Play at 1.5x. You're welcome :)
@johnjoseph4224 жыл бұрын
You might just saved my life from frustration. Literally just 98% complete with legal zoom opening up an llc in Delaware although I live in Florida. I am an online entrepreneur. I stopped the process when I read “enter business address” and considered a virtual address in Delaware. It’s $100+ a month. Wow!!! And what you’re saying I would still have to pay taxes sivce I live in Florida? Bc I have to pay myself correct? Or what do you mean?
@AUTOKASH2 жыл бұрын
Definitely guilty but you’re very helpful
@Luxxen1015 жыл бұрын
Good info! (axe the clock)
@MsMBeester4 жыл бұрын
Hi Jim, from listening to this video, are you saying that if my business hasn’t started making money, that I shouldn’t file for a LLC?
@DJshutterfly5 жыл бұрын
So your office doesn't take vacation breaks?
@jimhart5 жыл бұрын
:)
@rudolphcoyle31705 жыл бұрын
Thanks for the info. Trying to start my own business and im trying to take and learn all I can before I get started. My whiteboard in my house has tips from you and many others! Thanks
@susanhallenbeck82292 жыл бұрын
Best of all, he has an Ohio State coffee mug. O-H!
@richschuster4 жыл бұрын
Item #4 clarifies that you need to hire a registered agent, thank you for stressing that. Followup question: if you are still a Sole Proprietor, is there a similar expectation of 100% availability to receive service of process during normal business hours? This would be further motivation to move from Sole Proprietor to LLC.
@glaytonmelo41584 жыл бұрын
I live in Durham, NC, and I would love schedule a consultation with you Mr James.
@jimhart4 жыл бұрын
Hawthornlaw.net/consult - look forward to talking!
@glaytonmelo41584 жыл бұрын
@@jimhart Is it only for online business?
@zakariahlafreniere13323 жыл бұрын
a lawyer who tells the truth?
@brandimyers72382 жыл бұрын
Thanks for the info.
@arkiaivey5 жыл бұрын
Thank you for sharing!
@jesswthedress Жыл бұрын
Very informative
@ChristianTrucker5 жыл бұрын
Keep em coming thank you for the info
@elmvalen5 жыл бұрын
I’m currently registered in Delaware and New Jersey causing me to pay two separate filing fees. I do business in both states. Does this seem correct or should I only be registered in my physical addressed state of NJ?
@jimhart5 жыл бұрын
It depends on a lot of factors. I'd be happy to discuss this with you on a quick call - Can't give legal advice in comments. Sorry. www.hawthornlaw.net/consult
@stephunshipman69233 жыл бұрын
I'm starting an online business as a virtual assistant. My niche will be Real Estate Transaction Coordinating. I just relocated to TN. But, starting out my business I will only focus on assisting NC Agents since I'm licensed in NC. Do I need to start an LLC in both TN and NC? Or just NC since that's where my business will come from?
@sabrinaownthethrone Жыл бұрын
Thanks for the great advice! Mistake #4 may be an issue. I am a motivational speaker so I may not be home because I'm doing an event. Will that be a problem?
@jamestilly1748 Жыл бұрын
You need the operating agreement before the business bank so this is backwards but still good info
@tiahardy36004 жыл бұрын
How do you get the Account, Ein etc. without your LLC? Do you go Back? and put these things into your LLC" or do you need these things before you apply for your LLC?
@LoadingMeerkat3 жыл бұрын
I already have a separate bank account which I use for business only, would I still need to open a bank account under an LLC?
@DJPariahX2 жыл бұрын
Yes thank you I've done my studying and I'm on the right path I've done everything right so far the only thing is I'll have too use my home address for the llc I can't afford too rent a space right now so gotta make due right?
@frederickwilliams9553 жыл бұрын
I just started a janitorial compony would my registered Agent still need to be available form 9-5? i head you say online business.
@rhueoflandorin5 жыл бұрын
Question: In an "S-Corp" it says "all business income/loss is passed through to owners each year" (www.legalzoom.com/business/business-formation/compare.html What does that mean, exactly? Does that mean, if the business profits one year lets say $100,000, but your chosen salary is $50,000, then you MUST pay yourself $50,000 in dividends?
@zakariahlafreniere13323 жыл бұрын
excellent
@dannygreen47675 жыл бұрын
I need to write an operating agreement help
@jimhart5 жыл бұрын
We do those
@jeremyhull79165 жыл бұрын
Google
@goosecouple5 жыл бұрын
$$$$
@nealzeypoo15345 жыл бұрын
Problem with the RA is the state does nothing about it. Florida law allows process servers to serve anyone in home over 15 years old after second attempt. Also, process servers dont have to serve an RA. We can serve owner of companies.
@TheStellarmanCo.4 жыл бұрын
Im buying land in CA and I am from NY, I am going to build my house on the land & I wanted to put the land under a LLC to protect it , but in CA they charge $800 for the pleasure of doing business in their state, so I am thinking about using Wyoming and buying with that LLC Is that good route to take? ANy info would be Greatly appreciated Please let me know
@calivalley90564 жыл бұрын
I am in process of opening a single member LLC in Indiana where I own multiple rental properties and plan on purchasing several more. I live in California and I understand that I will need to register with California. I'm having a local Indiana lawyer set it up and then add deeds to rentals to LLC. My goal is also to add family members in the LLC. Any recommendations, or warnings? Also, how do you recommend setting up business e-mail, do I need it with a rental property LLC or could use an ISP email like a comcast or ATT. I need registered agent, going check out you service.
@queeni9ja5 жыл бұрын
If my LLC is already formed, is there a way to revise it to add your firm as the legal agent and pay your company the yearly fee?
@jimhart5 жыл бұрын
Yes, you can use this link: linc.hawthornlaw.net/product-selection-registered-agent
@machineman64982 жыл бұрын
👍
@LetsHeal8884 жыл бұрын
Should you still file a LLC if you are the registered agent? I want to pay the $159 I just cannot do it now, but still wanted to file my LLC. Or should I do that at the same time.
@cnat015 жыл бұрын
I do have a business account opened w an EIN but I bought lots of stuff(like laptops) at Costco using their credit card to gain points. How do I get credits for these expenses using the business account?
@epigeneticnerd42445 жыл бұрын
I love your videos man. I know this would not be legal advice, just curious of your thought. I want to buy a Tesla under my LLC for a vehicle. There is a standard model, long range and performance model. I want the performance model but wondered whether IRS would consider that a luxury or a sports car. However, although it is faster like a sports car, it's still a sedan, the battery can drive a longer range and it has better maneuvering, for safety... Do you see the performance model being an issue?
@epigeneticnerd42445 жыл бұрын
In fact that'd be a great video, the in's and out's of buying a car under the LLC. But I'd like your quick response first ;)
@jimhart5 жыл бұрын
If you buy me a Tesla, that would certainly qualify as a business deduction... ;)
@jimhart5 жыл бұрын
Seriously though it would really depend on a lot of factors that are outside the scope of these comments. I'm happy to talk it through with you during a strategy call. www.hawthornlaw.net/consult
@shaquillepollock77613 жыл бұрын
Dude I hate you , but I get it 😭😭 it was definitely so super helpful bro
@matt89535 жыл бұрын
how could u be a registered agent in all 50 states? do u have an office in all states? thats what it says according to a website. registered agent must live in the state!
@jimhart5 жыл бұрын
I have contracted a corporate entity that has offices in all 50 states.
@nickcangelosi18365 жыл бұрын
Hawthorn Law Solid Content. We must connect. # CASHFLOW
@aminerahal94194 жыл бұрын
Thank you for the video I am not a US citizen and I live in Algeria, how can I create my LLC? Can you please give me some an estimation about costs including everything needed like having registered agent, opening bank account...etc. I did not start my business yet but it will be outsourcing online and similar activities of online services. Thanks
@ronelam69843 жыл бұрын
You can make the LLC itself the registered agent.
@hellomycompany34944 жыл бұрын
Hi Jim, thx for the video. I understand the issue about choosing the right state but if I live outside the US can I have a full open choice? thx.
@gustavoheredia25513 жыл бұрын
very helpful, I like your presentation and explanations
@Ultreras5 жыл бұрын
What kind of coaching do you provide?
@jimhart5 жыл бұрын
Legal coaching for online businesses.
@nichole83763 жыл бұрын
Great information - just starting the process, online business in NY
@gregorydamario57734 жыл бұрын
I have a question. One of the allegedly BIG mistakes is to inadequately capitalize one's LLC. Sure, the LLC needs adequate funding but, why would I GIVE my money personal to the LLC, of which I was the sole member, as opposed to LOAN the money to the LLC? I would think that loaning the LLC a sum of money on a six month(?) deferred payment schedule, so the business can start to gather clients, provide services and start to make money, would be smarter than a bequeathment. That way I get my money back tax free as loan repayment, except for the interest charged on the loan, instead of as wholly taxable income. Of course I would have a formal loan agreement. This sounds like a more BUSINESS deal than a personal deal so would enhance the separation of person vs business. What say you?
@gregorydamario57734 жыл бұрын
Proof read it, idiot! "... my personal money..." not "my money personal". (Honestly, I make riotous fun of people who make this kind of stupid mistake.)
@Bxdarealest4 жыл бұрын
Awesome. Subscribed with all the bells. This was very helpful
@RobertMadden4 жыл бұрын
What if I create an LLC, S CORP in WA State, then move to NM. I’m guessing I need to file for another in that state or what do I do with it?
@andrewganot103 жыл бұрын
Wow Ive been struggling to find information on forming a llc the correct way for weeks I'm glad I found this video
@benjaminmckinney72463 жыл бұрын
Hello! Great video! Is it fairly simple to transfer an LLC from one state to another after moving? Thanks!
@BlockchainShango3 жыл бұрын
Thank you very much, for the video. I am looking to start an LLC and am learning sooooo much, thanks in part to you. Have a great day.
@tashah40793 жыл бұрын
I came here to make sure I did it right and thank goodness , i did 😅
@gro57574 жыл бұрын
Wihs I came across your videos beifre registering my llc. I love to work with consultants who show their face
@agustingomez55944 жыл бұрын
hi Does this apply to small contracting business ?
@pinkdottie13 жыл бұрын
very helpful! thanks
@ExploreTravelTV5 жыл бұрын
I am about to file a LLC to be a travel agent to go along with my travel show. I am in California where they are crazy with taxes here (min $800 per year tax) so many here file in Nevada or other states. using a registered agent of course in those states. I have a feeling though that it isn't legit or right way to do this. ?
@jimhart5 жыл бұрын
This is a mistake. When CA finds out (when you file your tax returns) I believe there are stiff financial penalties that will make your $800 filing fee seem like a bargain. Whoever does this is taking bad advice from the internet.
@gregorydamario57734 жыл бұрын
Your big mistake is living in California. Leave that nut house and move somewhere not run by the insane.
@JessicaG18974 жыл бұрын
Shout out the Ohio State coffee mug! ☺️ I went to the University of Toledo. Great video!
@RoneyRamos4 жыл бұрын
Thanks
@YeahNah1002 жыл бұрын
Good advice, Jim. 👍👍
@MatisMedia2 жыл бұрын
Very helpful video !!
@SnowSharks5 жыл бұрын
I've really enjoyed your videos! look to be scheduling on online meeting soon!
@louismartin15643 жыл бұрын
Just starting literally in NY.
@pbax61824 жыл бұрын
Get rid of that sorry coffee mug !!
@jimhart4 жыл бұрын
You from that state up north? 😂
@pbax61824 жыл бұрын
@@jimhart no, Florida. Yes a Gator.
@jimhart4 жыл бұрын
P Bax I was living in Orlando when they played in the football championship game. In a bar surrounded by gators. My wife and I had to leave at halftime. Ugh.
@MeredithRyncarzPhotography5 жыл бұрын
We were going to do our LLC formation ourselves but soon found out that was the worst mistake. We had to form an LLC in another state while operating in a different states due to my husband's job. Glad we used a lawyer
@jimhart5 жыл бұрын
Smart move!
@winkhvac625 жыл бұрын
Thank you for sharing!
@olushile4 жыл бұрын
This was very helpful
@PrettyBoyBeatsMusic5 жыл бұрын
Good info
@ROMOGNANCY4 жыл бұрын
Thank you Jim
@terrelljohnson5904 жыл бұрын
GUILTY!!!
@tbinyt4 жыл бұрын
@2:27
@cloutsect89514 жыл бұрын
For mistake #3, can you use a registered agent in a different state and avoid having to file a foreign entity?
@unclecraigsjerky90563 жыл бұрын
Not guilty.. Yet but I "plan" to avoid being lazy/not caring enough thanks to your video. (You're a funny guy!)