Start An LLC Online- LLC Provider Reviews

You may be wondering, “Should I start an LLC?” “Do I really need to set up a business entity?”

The answer: HECK YES YOU DO!

You don’t think so? Oh, you want to have to tell your wife/husband that you lost the house and all of your life savings because your business got sued and you didn’t create an LLC?

Then you’re an idiot.

Idiots, stop reading now. Others, read on! We’re going to tell you the TOP reasons to start an LLC after the rating chart below.

OUR REVIEWS:

“What Are The TOP Benefits Of Starting A Limited Liability Company?”

1. It can protect your personal assets from getting taken away from you if someone tries to sue you.
2. It can set up how your company will be taxed, potentially saving you thousands of dollars per year.
3. You will be allowed to legally set up who does what within your company.
4. Business structures such as an LLC command greater ‘respect’ from banks, allowing you to get a loan when you may not get one without a business structure.

Start Your LLC with BizFilings

If You Start An LLC, Here’s What Will NOT Happen:

Let’s say you opened up ‘Holy Awesome Donuts’ without setting up any sort of business entity. (This automatically makes you a ‘sole proprietor’, which is technically a legal business entity. A sole proprietorship lacks the benefit of protecting your personal assets from lawsuits involving your company.)

Then one day a man comes into your shop, falls and smashes his head into your donut display case, giving him an expensive trip to the ER.

He sues you for damages plus pain and suffering (Of course). You lose because the judge found you negligent for X reason.

Well, in this case, you were sued for not just the business assets but your PERSONAL assets as well. You lose everything.

Now you can’t send your 2 kids to college because you are jobless, you lost the house and the business so now you can’t make enough money in the meantime to have enough to pay for college tuition. TRAGIC!! That’s very bad business management and bad planning.

This could have been easily avoided if you had a business plan that set up your company with a protective shield such as a Limited Liability Company.

You would have protected your personal assets from being acquired in litigation. You would still have your home, vehicles and your savings accounts because they are protected by the business entity.

A few of the benefits you get if you are starting an LLC:

• Personal liability protection: Creditors are after your business? Have a lawsuit or two pending against your company? Rest assured they will not be able to affect you personally. No matter what happens, your crib and any other personal assets are safe and sound!
• Business liability protection: If you are sued PERSONALLY, creditors/lawsuits can not force you to liquidate your business so that they get their dough.
• No ownership restrictions: Have a million owners if you so desire. A trillion! There’s no limit. Another entity can also serve as an owner.
• No management restrictions: You decide who does what. There are no pre-determined rules about who manages or who owns. You get to pick!
• Flexible tax status: You can choose from a multitude of ways to be taxed. This is an incredible benefit if you know what you are doing. (Get a CPA if necessary)
• No separate tax returns: With a standard LLC, the business’s profits and losses are reported on your personal tax returns. No other returns are necessary.
• No double taxation: Unlike some business structures, LLCs can have pass-through taxation. This means that you are only taxed once, personally.
• Flexible profit distribution: No restrictions here… you decide what percentage of the profits to distribute to everyone — it doesn’t matter how much of the company the person actually owns.

How To Start An LLC:

Starting a company, you should have laid out plans stating who does what. How profits will be distributed. Who manages your day to day affairs? How do you want profits to be taxed? These are the things that will be laid out LEGALLY with an LLC.

This way, no business partner can screw you by claiming otherwise.

Again, be very careful about understanding the differences about each of the entities. The most common types are Sole Proprietorship, LLC‘s Corporations and Partnerships.

We loved BizFilings for starting an LLC for many reasons. (See our review of Bizfilings and learn why.)

You can speak with a specialist at BizFiling’s website to ensure that you are choosing the proper business entity for your personal needs. Or, go to their Incorporation Wizard to find out which entity is best for your needs.

Go to their website and simply pick your business entity (LLC) and state then answer the questions, and boom, you’re on your way to having an LLC!

See the chart above for an easy to understand guide of the pros and cons of each company we reviewed. We love BizFilings for their ease of use and awesome customer support. They have live chat agents available to assist you on weekdays.

If you are not satisfied with your service you may call BizFilings and they will set things straight.

It is crucial that you have the help you need up front so that you make the best decision for your new business venture. To start an LLC online, click below to get started with BizFilings today!

Start Your LLC with BizFilings