Episode 201: Do you need to form an LLC?

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By request from my girl Kim, "should you get an LLC and why/how?"  What you'll hear:

• Went on a family vacation with my ex and it was awesome 3:30
• Come to Bel Rev!! 4:30 https://www.bigtickets.com/events/LOOP/bel-rev/
• Follow Heather for updates on her current project (I get to do some art direction for this)  5:00
• The meat of the episode starts at 6:00, this is only going to be super relevant to the US based folks.  
• What's a business structure and how might one begin to develop this concept for themselves 7:15
• Why I'm not just going to tell you do some shady shit to avoid taxation 9:30
• What is an LLC:  Limited Liability Corporation?  When should you start thinking about forming one?  12:44
• What about an S-corp?  When should you consider this structure?  What are the downsides?  13:45
• Separating yourself from your business, not just in structure, but in finances (ie:  separate checking account) 15:00
• Step 1:  Come up with a name to operate under, this can also be called a DBA (Doing Business As) and get a business license from your county clerk.  You might need a residential business permit, check with your county.  17:00
• Step 2:  Get an EIN, it's dumb easy, here's the link:  https://www.irs.gov/businesses/small-businesses-self-employed/get-an-employer-identification-number  You can do this even if you don't run a business
• Step 3:  Get a business checking account to separate your business income from your personal checking account 20:20
• Step 4:  File the paperwork to become an LLC (this process and the fees involved vary wildly according to state, so check with your county/state legistlation and outlines) 

Don't go back to sleep.

xoRachel
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