anyone with LLC experience?
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Posted on Dec 01, 2003 10:16 pm
el musico
Freeleance Producer/Engineer/Gtr
Member Since: Aug 11, 2002
i am going to officially start my business (recording studio) as an LLC. it is just myself but incase things go wrong i don't want my personal assets touched. anyone have experience with this? i have all the forms necessary for application and some of them want different signatures. so since it is just myself is it ok for me to sign everywhere?
also, my band was looking into doing the same thing. any help there would be greatly appreciated.
thanks
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WaltChief Cook and Bottle WasherMember
Since: May 10, 2002
Dec 01, 2003 11:34 pm I went sub S, which is very similar in design. I havn't looked at the filing papers in a little over a year and good chance they have changed.
To be honest, if you can possibly afford it find a good accountant that will work per your corps revenue. Both the LLC and sub S are kinda moving targets. They where a little like retirement for politicians. Developed by politicians for politicians. But there constantly changes being made to the game. Per our recent bout with En-Ron, ron ron ohh En ron ron and simalar stellar elthical corps. the definitions of "limited" per liability has become somewhat fluid. And of course they are always playing around with capital depreciation, valid expenses etc. It is good to have a sharp accountant who specializes in small business accounting to do the leg work of keeping up with law. It is real easy to step in a big pile.
Dec 02, 2003 12:26 am Hola el musico,
Do some research on the web. Legalzoom.com will incorporate for you, they did my will and did a nice job. Maybe someday they'll do my divorce too!....gotta wait for the kids to finish school first (neither have even started)...It'll cost a few bucks but they will tailor it to your state and type corporation, LLC or S, etc. Do it right to make sure you are protected. There are other sites (do a google search) that can really help. Mark
cooloFrisco's Most UnderratedMember
Since: Jan 28, 2003
Dec 02, 2003 05:51 pm Hey, I have my own LLC with a couple partners for our record label/promotions company. Anyhow, LLC laws differ from state to state. Ours is in California, and one thing to beware of is that there is a annual fee/tax thing of $800 for LLCs in California. If you are the only member of the LLC, I'm pretty sure you can sign and put your name for everything, but it's been about 6 months since I looked at the forms so I'm not sure.
