#MusicChallenge
#ScavengerHunt2
Day 16- a hated fruit or vegetable
'Let's Call the Whole Thing Off' - Ella Fitzgerald & Louis Armstrong
🍅 "If we call the whole thing off, we must part..."
What happens when LLC owners disagree? Consult your operating agreement
youtu.be/qfu_PD-7EtM?...
Congrats on making your LLC official 🎉 We're around if you have any questions about maintenance.
Gorgeous!
No arguments from us on that one!
Happy (?) Tax Day, all. We see quite a few of you waited until the last moment, and that's OK! Our blog has some last minute tax tips for business owners ❤️
#llc #smallbusiness
www.northwestregisteredagent.com/maintain-a-b...
Agreed, this is both excellent sleuthing 🔍 while also being a case example for why people should care about their privacy when starting an LLC 😅
These are so charming!
The color on these is unreal! 😍
Ah, that makes sense. So sad this is happening!
#ScavengerHunt2
#MusicChallenge #MusicSky
#15 Body Part (not heart or eyes)
youtu.be/r3kQlzOi27M?...
'Our Lips Are Sealed' - The Go-Go's
Speaking of sealed lips, did you know that when you form an LLC with Northwest, your info is kept private by default? Our lips are sealed 🎶
fwiw, a business name becomes immediately available once an LLC is dissolved in Colorado...
So cute! 😍
Other this being obviously upsetting, this is also really confusing. The text says that an owner dissolved the LLC without knowledge of the other owners, but...that shouldn't be possible. LLC dissolution requires consent of all owners, so we're wondering how that person got around that...
You likely can convert your LLC to a co-op down the line, but many aspects of the original business will need to change (new EIN, buyout of original owners, etc.). As others have indicated, this will highly depend on your state.
Congrats on the great review!
Congrats on launching your Patreon!
Congrats on the rebrand!! 🎉
Additionally, as a sole prop, technically your business's name is your legal name. With an LLC, you can choose a business name, which also provides a degree of privacy.
There is a way around this as a sole prop--you can register a DBA, which allows your business to go by a nickname.
When sole props get an EIN without registering with the state as an LLC, they miss out on liability protection. If their business is sued, the plaintiff can come after their personal assets. An LLC separates business and personal assets.
Those crochet bags are so cute!
This is so cool!
Yep, that's a lot. If you have any questions about how to start the LLC, we're around!
Whether you form an LLC or not, you can get an EIN from the IRS, which you can use in place of your social. Online application is quick and easy.
If you decide to go the LLC route (which can be good for a lot of privacy reasons), we can answer any questions that pop up.
Obsessed with that snail 🐌😍
In our line of work, we frequently see people pulling the trigger on electing S-Corp status for their LLC before they are making enough money for it to make sense. You're absolutely right that it can allow for substantial tax savings, but only if you're making enough money to begin with.
#ScavengerHunt2
#MusicChallenge
**Day 14** Something you read...
Beatles - 'Paperback Writer'
youtu.be/SepZDSkY4Ro?...
And while you might not "make a million for you overnight" it is interesting to think about how this format changed literacy...
www.smithsonianmag.com/arts-culture...
Congrats on taking that step! We're here if you have any questions about maintaining your LLC.
This is mostly true, but if the courts determined that you were using your LLC like a personal piggy bank, the corporate veil can be pierced. The easiest way to prevent this is to open a business bank account and keep your business and personal finances separate.
Gotta love the weird state specifics for LLCs! 🙄
No fun. A lot of folks think that registering an LLC will unlock magical tax benefits, and while you can elect different tax statuses depending on your situation, the default is no different than being a sole prop.