In this video, I’m showing you how to create an LLC step by step, 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.
^The cheapest and most reliable way to set up your LLC. I used Incfile multiple times and have nothing but great things to say about their service.
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 $105, and using Incfile 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.
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:
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
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