Disadvantages of LLC: Don't Believe All The Hype in 2024

Disadvantages of LLC | When people get serious about starting a business they immediately think about getting an LLC. But the truth is, there are some major disadvantages of LLC. Watch to learn major cons or LLC disadvantages in 2024.

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I got 6 reasons why you don’t need an LLC in 2024. Some of the things you may know and there likely will be some things you don’t know.

So what I’m going to do is timestamp this video so that you can skip to the part that you want to learn the most about. That way you can quickly see what the disadvantages of LLC are.

Outline on the cons of LLC:

Intro: (0:00)
What is an LLC: (1:00)
Reason #1 Why You Don't Need an LLC: (1:51)
Reason #2 Why You Don't Need an LLC: (3:15)
Reason #3 Why You Don't Need an LLC: (4:55)
Reason #4 Why You Don't Need an LLC: (8:25)
Reason #5 Why You Don't Need an LLC: (11:30)
Reason #6 Why You Don't Need an LLC: (13:40)

Ok, so for the people who are new, let's start with, What is an LLC?

So LLC stands for limited liability company. Okay, essentially it is a business entity that you can set up for your business.

Now it's so popular because of the “limited liability” part. You see with an LLC you are able to separate your business assets from your personal assets.

So if someone sues your business and you lose then the only thing that they can go after legally are assets within your business.

And your personal assets are completely safe, so it gives you this sense of security through having a legal shield.

But what are the LLC disadvantages? Keep watching this video to see everything you need to know about limited liability companies disadvantages.

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Disclaimer: The information provided in this video is for entertainment purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).