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Countless entrepreneurs will set up LLCs this year in America. However, a large percentage of them will make critical mistakes that can slow them down significantly. If you are thinking about setting up an LLC, then you are far better off knowing which mistakes to avoid before you get started.

In this video, tax expert Karlton Dennis breaks down all of the key mistakes you should avoid when you are setting up your LLC. He also explains everything else you should do before you set up your LLC to make sure that you do not run into key problems that could interrupt your LLC’s growth.

Topics that Karlton discusses in this video include which state you should set your LLC up in, virtual addresses, doing bookkeeping correctly, and more. Whether this is your first LLC or your fiftieth, it can be extremely beneficial to know LLC setup best practices in order to get your business up and running smoothly.

CHAPTERS:
0:00 Intro
0:20 Set Up Your LLC in Your Own State
1:35 Buy a Virtual Address
2:49 Set Up QuickBooks the Same Day You Start Your Business
4:00 Leave Your Name Off Your LLC
5:46 Have a Lawyer Create an Operating Agreement Before You Start Making Money
7:11 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#llc #smallbusiness #taxstrategy #entrepreneur