In this video, I go over when you should switch from a sole proprietorship to an LLC. If you're a business owner or you're self-employed wondering when you should form an LLC, this video is for you.
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If you're looking to switch over the an LLC, I recommend using a platform like Bizee to do it for you. It will save you hours and ensure that you create your LLC properly and within compliance. I don't recommend attempting to do it yourself!! Also, I recommend the gold package for 99% of you guys watching this video. It costs a bit more but is completely worth it (includes EIN filing as well as a bunch of other stuff you won't know how to do yourself). This is an affiliate link so by using it you'll help support our free channel :)
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Be sure to watch through until the end because I'll be covering everything that you need to know from the benefits of an LLC to electing S Corp status for tax purposes. Over the past few years, I've formed many business entities, and so I wanted to make this video for anyone out there who wants to get started with their own business.
If you got some value out of this video, please SHARE it with a friend who could benefit, and also LIKE and subscribe for more videos like this!
Thanks for watching, and I hope you have a wonderful rest of your day!
-Charlie
#BUSINESS #LLC #ENTREPRENEURSHIP
Timeline:
0:00 - Intro
0:32 - Sole Proprietorship
1:00 - The Benefits of an LLC
1:40 - Taxes
2:20 - Comparison
3:05 - S Corporations
5:10 - Raising Money
6:14 - The Cons
6:57 - The Pros
7:38 - Conclusion
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