✅(ad) Go here to form your CA LLC: bit.ly/California-LLC. *Note that this is an update to a prior video to reflect 2024 changes.* Thanks for watching, and let me know if you have any questions! Best regards, Chris Jackson
@marcelofesposito
2 ай бұрын
I just did my LLC while playing the video, I can't believe it, thanks so much, one thing it seems like the steps on the website are on a different order than the video, bit confusing at the beginning but not a biggie
@cjlawvideos
2 ай бұрын
I'm glad you were able to form your LLC, thanks! Yes, they change up the order and format from time to time of the steps ... sorry for the confusion! Glad it all worked out, and best of luck to you and your LLC! Best regards, Chris
@dlinevids1
6 ай бұрын
I created my LLC because of your step-by-step guide. Thank you for your help!
@cjlawvideos
6 ай бұрын
You are welcome, and I'm glad it was helpful! Best of luck to you and your LLC. Best regards, Chris
@DarwinLaureano-c5x
14 күн бұрын
Chris love your videos. Please create a video for creating an llc in PA. THANKS
@cjlawvideos
14 күн бұрын
Thanks for your kind words. Ok, you got it, it's on my list. Thank you for the suggestion. Best regards, Chris
@Vlad-ss5pm
4 ай бұрын
OH BOY....got it done, time to wory about everything else.... thanks
@cjlawvideos
4 ай бұрын
You're welcome ... glad it was helpful! Here is a video on next steps after your LLC is formed if you're interested: kzitem.info/news/bejne/sqx824h_bHWVlYY. Also, a related company of mine has a comprehensive Next Steps Guide for an LLC that covers most things that you need to consider, and that will be available for purchase (along with Operating Agreements) at the following website: www.attorneydrafted.com. If you need legal help in CA, feel free to reach out to me via my website, which is www.chrisjacksonlaw.com. Best of luck to you and your LLC! Best regards, Chris
@Vlad-ss5pm
4 ай бұрын
@@cjlawvideos Thanx!
@cjlawvideos
4 ай бұрын
@@Vlad-ss5pm You're welcome and go get 'em! Best regards, Chris
@alimehdisayed3133
3 ай бұрын
Hi ! Chris, I just registered in Bizee to form my LLC in California through your link, thank you for the video and guidance. My order is pending though, will confirm once done.
@cjlawvideos
3 ай бұрын
Thank you very much, and please let me know if you have any questions! Best regards, Chris
@alimehdisayed3133
3 ай бұрын
@@cjlawvideos Hi Chris, I received 2 emails from Bizee, FIRST was to send selfie with some identification card, showing last 4 digits photo of the card from which I paid. SECOND is to again confirm if all the details I mentioned are correct as later no changes can be made. Though I replied to the first email and second doesn't need my reply, just wanted to know if all this procedure is normal.
@cjlawvideos
3 ай бұрын
@@alimehdisayed3133 Hi. Sorry for the late reply. The second email you reference is typical. The first one may be a new part of their procedure, and I suspect it has something to do with their own compliance with the Corporate Transparency Act (I have a video on this). Give them a call if you have any questions, as the customer service is responsive in my experience. Thanks, and let me know if you have any questions after setting up your LLC. Best regards, Chris
@alimehdisayed3133
3 ай бұрын
@@cjlawvideos Hi ! Chris, no worries. Thank you for your reply. I had scheduled a meeting with a Tax consultant right now and I have yet to receive any call from them. I anticipate the number provided by me was for Hungary but in the website it did not pick up the code correctly. Can you assist in rescheduling the meeting with the correct number. AS the system wasnt accepting Hungarian code. Your cooperation will be highly appreciated.
@alimehdisayed3133
3 ай бұрын
@@cjlawvideos Hey Chris, I wanted to share my experience and probably a glitch with the Bizee website which you may highlight to them, while forming / filling in the details it allows to enter phone of any country, however, not correctly ie country code is not correct. Issue arises when we book appointment with Tax consultant and for any update we wait on the number entered, but as per BIZEE they call or message on USA number only. So I suggest it shouldnt give an option to enter number of country other than US. As this happened with me and I kept waiting Tax Consultant would contact for meeting and when I called the Toll Free number of BIZEE, besides the person was not hospitable he repeatedly said BIZEE wont contact on numbers provided outside USA.
@robwatts3579
3 ай бұрын
Bro you look 5 years younger in this video vs the other...lol great info, Thank you
@cjlawvideos
3 ай бұрын
Thanks for your kind words. Must be better lighting! Best regards, Chris
@EllieLain
Ай бұрын
THANK YOU!
@cjlawvideos
Ай бұрын
You're welcome! Glad you found the video helpful, and let me know if you have any questions! Best regards, Chris
@tabbsumhussain6633
7 күн бұрын
Hello Thank you so much for your videos extremely helpful and detailed. I have a question please If I’m registering my company but will outsource in another country do I need to know anything different? Also before signing up do I need a PO Box address if I need to get my mail there?
@cjlawvideos
7 күн бұрын
Thank you for your kind words! Note that outsourcing labor or services to another country is not something that is addressed in the process of setting up an LLC. Regarding the address question, there are two things you need: 1. You need an agent for service of process (registered agent) in the state of formation (which Bizee will provide for free in the first year, then cap at $119 per year thereafter). Here is a direct link to that service: bit.ly/Registered-Agent. Or, you can be your own agent for service of process. 2. You will need a business address for the LLC itself. If you don't want to use your own address, you can use a UPS Store mailbox, a virtual office service and possibly a PO box (if a physical address isn't required in the state). I personally use two different virtual office services (see my notes in the description under this video). I prefer Bizee's option at $29/month because that is the cheapest I've found, and they notify you when they receive mail and scan/store such mail in your online access dashboard. Here is a direct link to that service: bit.ly/LLC-Office I hope I answered all of your questions, but if not please let me know. Thank you. Best regards, Chris
@wanderlustgrace
Ай бұрын
Very helpful, Chris! I am going through the process to file as LLC with my husband (equal partnership), and wondering whether it's best to elect sole proprietorship or partnership LLC for CA?
@cjlawvideos
Ай бұрын
Thank you for the kind words. I can't give you tax advice, but generally speaking I like to elect S corporation tax status for LLCs unless the LLC will own real estate (or be a holding company that owns an LLC which owns real estate). With that said, there is a free tax consultation available to you when you set up your LLC via Bizee per this video. They can give you advice specific to your situation. I hope that helped, but let me know if you have other questions. Thank you. Best regards, Chris
@JamesALewisActorJamesALewis
5 ай бұрын
Your videos are very helpful Chris. Thank you for doing them! If I am starting an LLC and want to do the manager managed route. I will definitely be taking on inverstors soon. Am I able to amend the LLC if needed or would those contracts with investors be a separate path entirely?
@cjlawvideos
5 ай бұрын
Hi James. Thank you for the kind words, and I'm glad you find the videos helpful. It's always great to hear that. Yes, you can start out as a single-member LLC and add members later. You would have to amend your Operating Agreement to reflect the additional members and their percentage interest ownership relative to yours. In terms of other contracts, it depends upon whether you and your investors are ok with simply amending the Operating Agreement to reflect the capital they put into the LLC or if all parties would prefer that, for example, you sell them a portion of your ownership interest (which means the money would go to you, individually). If you need any help specific to your situation, feel free to reach out to me at www.chrisjacksonlaw.com. Also, a related company of mine is about to launch a legal template business (with attorney-quality contracts, e.g., Operating Agreements, at a fraction of what you'd pay an attorney). The website for that service is: www.attorneydrafted.com. Best regards, Chris
@alimehdisayed3133
5 ай бұрын
Hey Chris, your video is very informative, thank you. If you could kindly answer my following concerns considering I am a Non US resident planning to start an LLC in the State of California 1. Is it still possible to open a local Bank account for eg. with BOA 2. Can I include partner (US resident / Non US resident) at any point of time after forming an LLC 3. Can I employ (US resident / Non US resident), will that give them an residents status ie. help them towards Green card etc. 4. GODFORBID if the LLC is not doing profit, is closing down the LLC an easy process / can it be done at anytime. Kindly reply at your earliest enabling me to register my LLC soon. Thanks. Awaiting yours.
@cjlawvideos
5 ай бұрын
Hi: Thank you for your kind words about my video. I can't give you legal advice without being retained as your attorney, but here is some general information for your to consider: 1. Yes, your LLC can open a bank account. If you are going to have Bizee/Incfile set up your LLC per my video, then just select "foreigner" when you come to the EIN section. They will obtain your LLC's EIN (tax ID) for you, and then your LLC can open a bank account. 2. Yes, you can add a partner later. Most people do this by amending the Operating Agreement from a Single-Member to Multi-Member LLC. Note that a related company of mine is selling attorney-quality legal templates (including Operating Agreements) at a fraction of what you'd pay an attorney. If you are interested in a pre-launch discount, the website is here: www.attorneydrafted.com 3. Yes, your LLC can employ U.S. residents. As for non-US residents, that will depend of course on their visa status. I suggest you consult with an immigration lawyer about that. 4. Yes, winding down and dissolving an LLC is a relatively simple process (especially if the LLC does not have any debts owed to third parties). I hope that helped, but let me know if you have other questions. Thank you, and best of luck to you and your LLC. Best regards, Chris
@fabiolamorin3857
3 ай бұрын
Hi, I had a question on whether LLC should be connected to company if I plan to file this LLC under my S-corp. I wasn't clear on whether I should or not based on what you shared.
@cjlawvideos
3 ай бұрын
Hi. Thanks for watching and for your question. I cannot give legal advice without being retained (or tax advice, period), but if your LLC will elect S Corp tax status, then the only entity type which can serve as a member of an S Corp LLC is a single-member LLC which is disregarded for tax purposes. Also, take advantage of the free tax consultation that comes with your purchase to answer this question (or reach out to a CPA if you can). I hope that helps, but let me know if you have other questions. Best regards, Chris
@DavidCooper-dg6bs
3 ай бұрын
Hi - you mentioned that with the expedited option you would get to that later in California. I assume Bizee doesn’t do the 24 hour expedited filing in California as that’s $350 more on the SOS website. Do you know of anyway to get in done quicker in California still using a Bizee package and not going directly though the SOS website?
@cjlawvideos
3 ай бұрын
Hi. Thank you for watching and for your question. I just checked on Bizee, and the expedited filing wait period is 8 days (for an extra $50) in CA. This fluctuates depending upon the time of the year. In some states it is more predictable than others (e.g., WY is always 1 day for expedited), but CA changes depending upon the day you look. If you don't need the contract templates of business domain/email (which comes with the Platinum package), then I recommend choosing the Gold Package (or Silver Package) and just choose the "Expedited Filing" $50 add-on option when you get to that screen. I hope I answered your question, but please let me know if you have other questions. Thank you. Best regards, Chris
@thokozanimanguwombewe8078
3 ай бұрын
Thank you very Chris. Is selecting Bizee as an agent compulsory?
@cjlawvideos
3 ай бұрын
Hi. Thanks for watching and for your question. No, you don't have to use Bizee as your registered agent. I think it is a good option because it is free for the first year and locked in at $119/yr thereafter, but it's not compulsory. You can serve as your own registered agent, or you can list someone else. You just need to provide the name and address of the registered agent in the state of formation (CA, I believe, in your case). I hope this helps, but please let me know if you have other questions. Thank you. Best regards, Chris
@troytinsley148
4 ай бұрын
Hey Chris, I just formed my LLC in California earlier this month. Do I have to pay the $800 fee this year by April 15 or next year? My Internet searches aren't giving me a straight answer. Thanks!
@cjlawvideos
4 ай бұрын
I can't give tax advice. You are correct, the guidance is very confusing. You generally have to file the return and pay the $800 fee by either (i) the 15th day of the 4th month of your taxable year (that's if the calendar year is not your fiscal year), or (ii) by April 15th. If your calendar year is also your fiscal year, as is the case with most people, then it would be due by April 15th either way. (Now, if you formed your LLC in, say, November 2023 you would pay your 2023 $800 franchise tax on the 15th day of the 4th month after your LLC was formed (February 15, 2024), and then pay your "estimated" 2024 tax by April 15, 2024). With that said, I would pay the fee by April 15, 2024 to be safe. Best regards, Chris
@joyflowers6693
Ай бұрын
Informative and helpful video. I'm ready to create my LLC but just one question: Does Bizee automatically send the initial Statement of Information or is that something I need to do?
@cjlawvideos
Ай бұрын
Thank you for your kind words. Bizee does not automatically file your initial Statement of Information , but they will both remind you of when it is due and file it if you choose to pay them to do so. With that said, to do it on your own (to save on Bizee fees), you can go here: bizfileonline.sos.ca.gov/. You will see "File a Statement of Information" under "Business Entities." I hope that helps, but let me know if you have other questions! Best regards, Chris
@joyflowers6693
Ай бұрын
@@cjlawvideos Thank you I will take a look at the link.
@cjlawvideos
Ай бұрын
@@joyflowers6693 You’re welcome, and let me know if you have other questions. Best regards, Chris
@troytinsley148
6 ай бұрын
Not sure if you can answer this question, but with Bizee, there is a $75 state filing fee. From my understanding, the filing fee for California is $800 for an LLC. So I'm confused.
@cjlawvideos
6 ай бұрын
Hi. Thank you for watching my video and for your question. Good question. Note that CA charges an initial state filing fee of $75 to form your LLC in CA. That is a one-time fee. Thereafter, there is an ongoing annual minimum tax of $800 for each calendar year. I hope that helps, but let me know if you have other questions. Thank you. Best regards, Chris
@troytinsley148
6 ай бұрын
Hey Chris, thanks for the reply, and for the very useful information. I imagine that $800 is pretty high for a state fee. After a senior video on switching to Wyoming, might be a good idea to save money. I don’t have a physical location. Through marketing, I hope local businesses get new clients via online tools. I do remember you saying that any contracts written would have to take into consideration Wyoming law. Are there any other things I need to look out for?
@cjlawvideos
5 ай бұрын
@@troytinsley148 Hi Troy. Sorry for the late reply. Yes, I normally recommend forming the LLC in WY and qualifying it to do business as needed in other states. Here is a link to my tutorial on how to form an LLC in WY: kzitem.info/news/bejne/u6JjqayBcH5ne5w If you live in CA you may have to qualify it there. Just make sure you check the state rules as to the applicable state. Yes, I would use WY law as the controlling law in all contracts. However, there are certain states in which you cannot do that under certain circumstances (e.g., CA for Employment Agreements for CA employees). As for other steps, note that I have this video on the steps to take after you form your LLC: kzitem.info/news/bejne/sqx824h_bHWVlYY. Thanks, and best of luck to you and your LLC! Best regards, Chris
@abbyrashelle
3 ай бұрын
What would be the best for starting a clothing brand? Sole prop, or llc?
@cjlawvideos
3 ай бұрын
Hi. Thanks for watching and for your question. For the reasons I set forth in this video: kzitem.info/news/bejne/14aZmJaqaZ50nn4, I prefer LLCs for most people. Please watch if you have some time, as it explains why. My preference for LLCs applies to a clothing brand business, unless your goal is to take the company public in the future. If that's the case, I recommend a C Corp. Hope that helps, and best of luck to you and your business! Best regards, Chris
@abbyrashelle
3 ай бұрын
@@cjlawvideos Thank you, just got done watching that video provided. I am new to business and learning the legal factors to setup my clothing brand the right way. I also am having trouble understanding the outcome payment of that 800$ when will I need to pay that, and I’m paying that on top of paying for setting up my LLC, correct? I’m pretty confused and need guidance, any recommendations. Should I be better off hiring a business attorney?
@cjlawvideos
3 ай бұрын
@@abbyrashelle Hi. If you feel you need an attorney, you can reach out to me at www.chrisjacksonlaw.com. I can't give legal or tax advice unless you retain me, but generally speaking (per the current rules) you have to pay the $800 franchise tax by the 15th day of the 4th month after you form your LLC (e.g., if you form it in May 2024, you must count May as the 1st month, so the $800 is due by August 15, 2024. Going forward it is due on the 15th day of the 4th month after the end of your tax year (e.g., if your tax year ends December 31, then the $800 is due on April 15 of each year). The filing fee in CA and the Bizee fees are both one-time fees. The only other fee in CA you'll need to pay is for the bi-annual statement of information ($25 every 2 years). Hope this helps, thanks! Best regards, Chris
@qianwange
6 ай бұрын
Hello Chris, thanks very much for the great information! Just want to know if I am currently on a TN visa working in California and want to start a new software development business(100% funded by me), my initial employees will be from California and New York, is it better to form an LLC in California or in one of the 3 States you mentioned in another video? Do you have a video discussing more details about starting a business for TN visa holder? Thank you!
@cjlawvideos
6 ай бұрын
Hi. Thank you for the kind words. Generally speaking, I prefer to have my LLCs based in one of the three states per my separate video. I choose WY for all my LLCs and my clients LLCs, and this is especially important when you are a single member LLC like your LLC (due to asset protection provided by WY). Here is a link for you to form one in WY if you are interested: kzitem.info/news/bejne/u6JjqayBcH5ne5w. I have a CA LLC formation video because some people don't want to pay fees in two states, and that's understandable. You may have to qualify your WY LLC in CA (and possibly NY), depending upon where you are doing business, where your employees are being paid and other factors. Also, some people want a WY LLC as the holding company and the home state LLC (e.g., CA) as the subsidiary operating company. Unfortunately, I don't have any videos on starting a business for visa holders. Thanks for the suggestion. Just note that, when you obtain the LLC's EIN, you should indicate that you are a foreigner. Best of luck to you, and let me know if you have any other questions! Best regards, Chris
@qianwange
6 ай бұрын
Thanks so much for replying, sincerely appreciate your kindness!@@cjlawvideos
@cjlawvideos
6 ай бұрын
@@qianwange You are welcome, and best of luck to you!
@ruofanz3381
5 ай бұрын
Hi Chris, Thanks for the great video! I tried to follow your steps on Bizee but got confused by the option to add-on 29/mo business address. I think the all 3 packages offer free agent for a year But if I use an agent doesn't that mean I don't need the 29/mo address to hide my personal info?
@cjlawvideos
5 ай бұрын
Hi. Thanks for your kind words ... glad you liked the video. The $29/mo is an option for a virtual office address for your business. This is not necessary, it's really up to personal preference. You are correct that the registered agent service is free (irrespective of whether you want the $29/mo virtual office - that's optional). Hope that answers your question, but let me know. Thank you! Best regards, Chris
@sandralexy766
17 күн бұрын
I’m stuck right here, l need help please. Why do l have to pay extra $29 for privacy when l already have gold and they say it’s free first year. Help please
@user-hr9tr4ro8b
4 ай бұрын
What if I already got the EIN number directly from IRS? Do I enter my information anyway and I will get a New number?
@cjlawvideos
4 ай бұрын
Note that your LLC will need its own EIN. If you mean that you already set up your LLC and that LLC has an EIN, then no need to submit any additional paperwork to the IRS. However, if you are forming a new LLC, then you'll need a new EIN that is specific to that LLC (you cannot transfer EINs). Best regards, Chris
@yalitzaesparza
7 ай бұрын
Great info. Thanks for sharing! When must one file the IRS form 2553 after forming an LLC? Can that be done at any time? My LLC was just accepted and registered in Dec. 2023.
@cjlawvideos
7 ай бұрын
Thank you for watching and for the kind words. I cannot give tax advice, but here are the instructions on the IRS website as to when you can make the tax election: www.irs.gov/instructions/i2553. Here are some examples: 1. Current Tax Year. If you want it effective in the current tax year, you have to make the election within 2 months and 15 days from when that tax year started. So, if you formed your LLC on January 7, 2024, you'd have to file it by March 21, 2024 to have the S-Corp election apply for 2024. 2. Next Tax Year. If you forget to file your Form 2553 within the 2 month and 15 day period in 2024, then you can file it to apply for 2025 so long as it is filed within the first 2 months and 15 days of 2025 (i.e., between January 1 and March 15, 2025). 3. Short Tax Year. If you formed your LLC on December 23, 2023 and want the S-Corp election to apply to 2023, you have 2 months and 15 days from formation to elect S-Corp tax status (which is February 22 + 15 days, or March 8 due to leap year). Again, don't take the above as tax advice. Please consult with the tax specialist at Bizee (formerly Incfile) and/or the IRS website link I provided. I hope that helped! Best regards, Chris
@yalitzaesparza
7 ай бұрын
@@cjlawvideos Yes, that’s very helpful. Thanks again!
@cjlawvideos
7 ай бұрын
@@yalitzaesparza You’re welcome!
@d.wright3581
5 ай бұрын
Hi Thanks this was super helpful. SO I was under the impression to have a LLC in the state of CA costs around $800/yr. But it seems that if you use this tool, it only costed around $300-ish. Are there any other fees to officially become an LLC? What are the annual fees going forward? thanks
@cjlawvideos
5 ай бұрын
Thank you for the kind words! You are correct that CA has a minimum franchise tax of $800 per year. This is a separate and ongoing obligation for the pleasure of doing business in CA :). The $274 that you are referring to includes the one-time state fee and one-time entity services fee (gold package) for the formation of the LLC. After you form it, you have the annual $800 obligation (plus $25 per year to file and update your LLC's "statement of information"). Hope this helps, but let me know if you have other questions! Best regards, Chris
@d.wright3581
5 ай бұрын
So how will I know if I will save taxes if I become a LLC and file to be taxed as an S-Corp? My taxes are killing me with self employment tax and looking to find a way to save on my taxes. How can I figure out roughly how much I would save before going through the whole process of making this all happen? Thanks 🙏
@cjlawvideos
5 ай бұрын
@@d.wright3581 Hi. I can't give tax advice, but I'll give you a general example. If you have $100,000 in net income as a sole proprietor, you will pay self-employment tax on almost all of that amount (92.35%). So, $92,350 will be subject to 15.3% self-employment tax (Social Security and Medicare). With an S Corp, you only pay the 15.3% on your wages. For example, if your S Corp earns $100,000, and you pay yourself $30,000 in wages (30-40% of net income is what is generally recommended), the 15.3% Social Security and Medicare tax is charged against $30,000. This means the balance of $70,000 is subject only to income tax, not the 15.3% additional tax. This equates to $14,129.55 in self-employment tax as a Sole Proprietor ($92,350 x 15.3%) vs $4,590 ($30,000 x 15.3%) as an S Corp. The above is a very general explanation, as there some nuances. With that said, whether you should incur the expense of forming an LLC taxed as an S Corp for tax savings purposes will depend upon how much net income you are making. However, I still want my clients using LLCs for liability protection purposes. Also, as a general rule, I don't recommend S Corp taxation for LLCs which own real estate. Hope that helped! Best regards, Chris
@d.wright3581
5 ай бұрын
Thank you so much for that information. That is very helpful so as far as the real estate goes, I own a home but no other real estate, so does that matter?
@cjlawvideos
5 ай бұрын
@@d.wright3581 No, your fine. I just meant that if the LLC is in the real estate business (e.g., it owns rental properties), then S Corp tax election may not be the best approach. Best regards, Chris
@davidericson2298
6 ай бұрын
Why would an LLC use a company as the member vs member(s) as the members ? (15:22 in the video).
@cjlawvideos
6 ай бұрын
Hi David. An LLC can either have an individual as a member (e.g., you or me) or a company as the member (e.g., a WY LLC holding company which owns a CA LLC and possibly other LLCs). Hope this helps, but let me know if you have other questions. Thanks. Best regards, Chris
@isdraelhernandez4433
5 ай бұрын
do I have to be 18 to start ?
@cjlawvideos
5 ай бұрын
Thanks for watching and for your question. That is a good question, and I had to look it up myself. The answer appears to be that it depends upon your state. If your state disallows it, you can have your parent set it up for you, and you should be able to be a member. If your state allows it, then no problem (though you may have some issues when you try to enter into contracts). Here is a good blog post on this topic by the entity-service company I'm recommending in this video: bizee.com/blog/can-a-minor-own-a-business. I hope this helps! Best regards, Chris
@user-oh1eq1dd4v
5 ай бұрын
Hello im in the works getting LLC just quick question If I open LLC online or in person with an consultant Is it the same thing same process? Also is it required to have a registered agent? Thank you
@cjlawvideos
5 ай бұрын
Hi. You have a few different options when you form an LLC. You can do it yourself via the Secretary of State's website. That will be the least expensive option, but it is also the most complicated and time-consuming option. I personally recommend Incfile/Bizee in this video because they provide an easy-to-use service at great value (including free registered agent service for the first year, with a cap on the fee for each year thereafter). I use them for my own LLCs and my clients' LLCs. You can also hire an attorney or other corporate/entity formation service to do it for you. Attorneys will charge the most, generally speaking. Regarding the registered agent question, yes you need a registered agent in the state in which you form your LLC. If you don't want to hire someone to serve as your registered agent, then you can be your own registered agent or ask a friend or family member to serve as registered agent. Just note that the name and address of a registered agent is public knowledge (so a plaintiff in a lawsuit knows where to serve the papers for such lawsuit). I hope that helps, but if you have other questions then let me know! Best regards, Chris
@juanm1859
3 ай бұрын
Thank you for all this useful information. I am about to file an LLC in California, I did a Trademark Search of the word that I want to use for my new company, the word was trade marked, and all the results shows the status: Dead and Cancelled. Can I still use this word? Do I need to file a Trademark if I want to use the world along with Engineering after the word? Thank you in advance.
@cjlawvideos
3 ай бұрын
Hi. Thank you for your kind words and for your question. I cannot give you legal advice without being retained, and I'm not an expert in trademarks. With that said, "dead and cancelled" means it is available. And, by adding "engineering" after the word (along with LLC), you should be ok even if the trademark gets revived (though you should confirm this with a trademark attorney). Although most people don't take this extra step, you can always consider forming your LLC, and then trying to trademark that name with the LLC as the owner of the trademark. Hope this helps! Best regards, Chris
@juanm1859
3 ай бұрын
@@cjlawvideos Hi Chris, thank you for your quick response. Keep up the great content, small business owners and entrepreneurs appreciate this information very much!
@cjlawvideos
3 ай бұрын
@@juanm1859 Thank you. It is great to hear this type of feedback, as it motivates me to focus more of my time on creating content (which I intend to do this year and beyond). Best of luck to you and your business! Best regards, Chris
@juanm1859
3 ай бұрын
@@cjlawvideos Hi Chris, it is me again. Quick question. I'm a Mechanical Engineer in CA, I want to form an LLC to provide Engineering services. Do I need to be a P.E to run my business? Is LLC the right choice? Thank you in advance!
@cjlawvideos
2 ай бұрын
@@juanm1859 Hi Juan. Thanks for your question. I believe I answered you separately by email, but let me know if you have other questions. Best regards, Chris
@tracymicheal2096
26 күн бұрын
if i register a LLC am i able to pay myself a salary and employ a child at times? is the income a pass through tax or can the LLC hold and keep in its own structure as i have to maintain a certain income level and not exceed for next two years. Thanks
@cjlawvideos
26 күн бұрын
Hi. Thanks for watching and for your questions. I cannot give you tax advice or legal advice (without being retained), but here are some general things to consider: 1. If you select S Corp tax status for your LLC, then you can pay yourself (and other employees, including your child). 2. The amount you have to pay as wages versus as distributions to the member varies and depends upon a number of factors (including what is a typical salary for someone in your position in the same industry). Generally speaking CPAs will give you a range between 30-60 percent of profit should be paid as wages, and the balance can be pass-through taxable (which excludes social security, medicare and unemployment insurance tax). 3. Being able to pay yourself a salary also allows you to set up a 401k with a possible company match. I do this myself and highly recommend it. I use QuickBooks and Guideline is the 401k provider. 4. Note that I have a very extensive guide that goes into great detail (with examples) about this and other questions an owner of an LLC may have, and you can find that here: bit.ly/Legal-Templates. I hope that helps, but let me know if you have other questions! Best regards, Chris
@tracymicheal2096
26 күн бұрын
@@cjlawvideos great tat does appreciate it
@cjlawvideos
23 күн бұрын
@@tracymicheal2096 You're welcome, and best of luck to you and your business! Best regards, Chris
@tracymicheal2096
21 күн бұрын
@@cjlawvideos I see your a proponent of Wyoming, I set up a LLC for my self directed IRA Roth, however being in California, which I thought you as well operated a business, is suppose to organize the LLC or company in which state you operate from, can you touch on this and I like to see if you have a operating agreement for one member LLC template for California LLC not Wyoming, thanks
@cjlawvideos
21 күн бұрын
@@tracymicheal2096 Hi. I can't give legal advice without being hired to do so, but here are some general principles: 1. Yes, I prefer WY LLCs for the reasons I set forth in my "Best State for Your LLC" video. 2. However, I have this CA LLC video (and other states' LLC videos) for a couple of reasons. First, in case someone wants to have a holding company structure for their LLCs (e.g., whereby you are the member of the WY LLC and the WY LLC is the member of the CA LLC and the CA LLC is the operating LLC). Second, if someone would rather just open a CA LLC to avoid the extra cost of opening a WY LLC and having it qualify to do business in CA (if required). This will save on the cost of qualifying/registering a foreign (e.g., WY) LLC in CA, which is a one-time cost. It will also save on the WY $60/yr. annual report. Lastly, they will save on the WY registered agent cost (although this is free for Year 1 with Bizee and capped at $119/yr thereafter). 3. In your case, whether you need a holding company structure (a WY LLC and CA LLC) is a question of how tolerant you are as to costs (2 LLCs vs 1 LLC) and what are the potential risks of your operating entity (which presumably will be investing your Roth IRA funds). A holding company structure will provide better asset protection, but it comes at higher initial and annual costs. 4. Whatever you choose to do, note that my related company just added both WY and CA LLC Operating Agreement templates here: bit.ly/Legal-Templates. I hope that helps, but please let me know if you have any more questions! Thank you. Best regards, Chris
@starkeishabrown8325
2 ай бұрын
Are we able to hire you to get our llc started?
@cjlawvideos
2 ай бұрын
Thanks for watching and for your question. Yes, I'm taking on some new clients from time to time. You can reach out to me at www.chrisjacksonlaw.com. Thank you. Best regards, Chris
@sachinbhari8560
6 ай бұрын
Hello sir , i just need LLC for opening business account on PayPal, Cash App and Venmo, is it good ?
@cjlawvideos
6 ай бұрын
Hi. Thanks for watching and for your question. Yes, I just confirmed that an LLC can open a business account on PayPal, Cash App and Venmo. Best of luck to you and your business! Best regards, Chris
@aquamamma8282
7 ай бұрын
great video, thank you! if we do our own operating agreement, where do we add it in this process? also, in california i have heard there is an 800 dollar annual fee that can be charged twice depending on when you file for your LLC. when is the best time to file to avoid a double charge?
@cjlawvideos
7 ай бұрын
Hi. Thank you for watching my video and for your question. Regarding the Operating Agreement, that is an internal document which you can create and sign at any time after the LLC is formed. It is best to do it as soon as possible so you can be sure you are operating your LLC in accordance with the Operating Agreement. I have a video on how to create your own for Free. Also, Bizee will provide one. Regarding the $800 Franchise Tax, I can't give tax advice, but here are some general principles to consider: 1. The $800 FTB tax is due annually (for each tax year). 2. The first $800 is generally due about 3.5 months (on 15th) after you form your LLC. 3. Thereafter, it is due annually on April 15. 4. The so-called "double charge" occurs when you form your LLC in, say November of one year and have to pay the $800 for that tax year 3.5 months later (February 15). Then you have to pay the next year's annual fee on April 15, so you end up paying $1,600 in the same year. So, it only applies to LLCs formed late in a year. NOTE: if you form your LLC in the last 15 days of December, you will not pay an annual fee for that year. I hope this helps! Best regards, Chris
@aquamamma8282
7 ай бұрын
@@cjlawvideos thank you for your response and information! I do have some other questions in regards to switching from FBN to LLC. i already have an existing FBN but want to move it under the LLC once it is formed (LLC will be different name from FBN) would i have to first abandon my FBN and then refile it to be under the LLC? and with this would I use the register company as the address or the virtual mailbox as the address - i don't want it to be under my home address anymore - my city says "p.o. box and private mailbox not allowed" does a virtual mailbox count as a private mailbox? i’m not even sure if you can answer these questions, just thought i would ask! thank you!
@cjlawvideos
7 ай бұрын
@@aquamamma8282 Hi. Good questions. I suggest that you reach out to your county (or check its website) to see whether you can transfer your DBA to your LLC (i.e., change the "owner" from you personally to your LLC) or whether you have to cancel/withdraw it and file a new one for your LLC. You could also name your LLC the same as your FBN (if available in CA), but your LLC would simply have LLC at the end. Lastly, I believe you have to use your residential address for your FBN when you are a sole proprietor, but you can use your business address when the LLC or corporation has the FBN. I would try to use a virtual office. If you need something other than what Incfile/Bizee provides (and a UPS box won't work), you can try a professional virtual office which gives you the option of having an office space or using its meeting rooms. I personally use Alliance (here is the link: bit.ly/AllianceVirtualOffices ). Again, please confirm with your specific county. Let me know how it goes! Best regards, Chris
@aquamamma8282
7 ай бұрын
@@cjlawvideos Thank you for all the information, I will be calling my county to ask them those questions. Another question I’m curious about, that once again not sure if you could answer but doesn’t hurt to ask. My county requires zone clearance, even for businesses like mine that are conducted online from my home (drop shipping). And I have to have it in order to have my business tax cert for my county. How would I be able to get zone clearance with an address from a virtual mailbox location? If i have to use my home address for my FBN that I plan to put under my LLC once established, would my home address then be public to anyone who looks up my LLC? or would only the LLC address show up which I would hope to get a virtual address for. Is it normal for counties to require zone clearance for drop shipping e-commerce businesses? i’m starting to think i should move 😂
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