How to Set Up an LLC Step-By-Step for FREE (2024 Guide)

In this video, I'm showing you how to create an LLC step by step in 2023/2024, the easiest and most affordable way possible. I get this question all the time, and this is exactly how I set up my own businesses, and I will walk you through the setup process. If you want to officially start a business in 2024, this video is for you.

BEST LLC formation options in 2024:

Start your LLC today with Tailor Brands (35% off with this exclusive link):
https://bit.ly/tailorbrands-discount

Start your LLC for $39 with Northwest (exclusive deal for my audience only):
https://bit.ly/northwestLLC

After a lot of research, I've been able to get you guys these crazy deals with Tailor Brands & Northwest. These are actually now my preferred platforms, and it will save you even more money. Plus, the process is pretty much the same and takes 5-10 minutes. Northwest costs just $39 and comes with free registered agent service, and Tailor Brands has a FREE plan you can take advantage of!

If you'd like to use Bizee (formerly IncFile), follow along and I'll show you how to easily and affordably create an LLC. I earn a referral fee if you use their service at no additional cost to you. By using my links, you're supporting my channel - think of it as a tip for bringing you content.

Start your LLC here:
https://bit.ly/bizeeLLC

^IncFile just rebranded as Bizee, but it's the exact same platform and service! I used IncFile/Bizee SIX times now and have nothing but great things to say about their service.

I recommend getting the standard/premium (previous called the gold/platinum plan) for 99% of business owners. It's the one I've used many times in the past and it saves you so much time, and ensures that there aren't any filing mistakes when it comes to your business. Avoid the basic plan as it misses out on a lot of key features that you'll want. Trust me, I made this mistake trying to save a few dollars but it ended up causing me a ton of headache and penalties later on.

My favorite business must-haves:
💳 Best business credit cards: https://go.milevalue.com/best-credit-...
🏦 Novo (best business bank): https://startupwise.com/novo
🖥️ Best AI website builder ($3/month using code CHARLIECHANG): https://hostinger.com/charliechang
⚙️ Northwest (best $39 LLC formation service): https://startupwise.com/northwestLLC
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This video is a bit different than my other videos, but since I was getting this question so much I decided it would be helpful to walk you through setting up an LLC for beginners. A lot of you out there are creating new side hustles or businesses, and an LLC is a great way to make your business more formal, take tax deductions, and limit your liability.

There are so many benefits to creating LLCs, and it's actually a lot more affordable than people think.

For example, in California there is a state filing fee of $75, and using Bizee to set up your LLC can be free. Then there is a yearly minimum $800 state fee - of course this will change depending on what state you are in.

And if you're creating an LLC, it might make sense to elect as an S corporation for tax purposes. You can do this election later on, and for anyone making over $50,000 this is going to likely save you thousands in taxes. I won't get too much into it here, but just know that you have that option with an LLC. You can also talk to your accountant to get their insight on when it makes sense for you to open an LLC or elect as an S corp. If you want to elect to be taxed as an S Corp, the Gold and Premium package includes filing form 2553 which is the form you need to submit.

I hope you get a ton of value out of this video - make sure to like and subscribe for more videos just like this! And if you want to check out other detailed tutorials like this, you can go to my Side Hustle Mastery YouTube channel:

   / startupwise  

Happy hustling!!

-Charlie

Timeline:

0:00 - Intro
0:29 - What we'll cover
0:52 - What is an LLC? Pros and Cons
2:48 - How to set up your LLC full walkthrough
9:46 - Final thoughts and outro on LLCs

Topics covered: form llc online, setting up llc, form an llc, start llc in california, best way to start llc, llc formation guide, llc walkthrough, llc tutorial, guide to starting llc, llc tutorial

Disclaimer: Some of the links above may be affiliate links, which means that if you click on them I may receive a small commission. The commission is paid by the retailers, at no cost to you, and this helps to support our channel and keep our videos free. Thank you!

In addition, I am not a financial advisor. Charlie Chang does not provide tax, legal or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.

► My Instagram:   / charlie__chang