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Don't Form an LLC until You Watch This! (3 reasons you should NOT form an LLC) 

Jim Hart
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Many online entrepreneurs rush out and form an LLC BEFORE they actually need one. Before you do that, watch this video and learn about the 3 reasons you might not need an LLC for your online business.
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✳️MAILING ADDRESS:✳️
James W. Hart
The Hart Law Firm, P.A.
5540 Centerview Dr Ste 204
PMB 61031
Raleigh, North Carolina 27606-8012
The content of this RU-vid channel is provided for informational purposes only and is not intended to constitute legal advice. You should not rely upon any information contained on this RU-vid channel for legal advice. Viewing this RU-vid channel is not intended to and shall not create an attorney-client relationship between you and James W. Hart or The Hart Law Firm, P.A. Messages or other forms of communication that you transmit to this RU-vid channel will not create an attorney-client relationship and thus information contained in such communications may not be protected as privileged. Neither James W. Hart nor The Hart Law Firm, P.A. makes any representation, warranty, or guarantee about the accuracy of the information contained in this RU-vid channel or in links to other RU-vid channels or websites. This RU-vid channel is provided "as is," does not represent that any outcome or result from viewing of this channel. Your use viewing of this RU-vid channel is at your own risk. You enjoy this RU-vid channel and its contents only for personal, non-commercial purposes. Neither James W. Hart, The Hart Law Firm, P.A., nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
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© The Hart Law Firm, P.A. and James W. Hart, All rights reserved.
#LLC #Onlinebiz #hawthornlaw

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21 сен 2020

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Комментарии : 849   
@alexanderohnemus1545
@alexanderohnemus1545 3 года назад
3. Situations: 1)Do not have revenue. 2)Not high risk. 3)Judgment proof(own almost nothing),
@love_kiwee
@love_kiwee 4 месяца назад
also, your lil pauses to do or say funny things really helps make this tax content more enjoyable :) nicely done!!
@_nellysunshine
@_nellysunshine Год назад
This came out 3-4 months after I set up my failed LLC lmao I know better now, love being a start up!
@Brightandgolden
@Brightandgolden 3 года назад
It depends on the type of business you have. Some companies will take you more seriously if you have an LLC. Also, if you have $$$ in the bank, assets, or simply prefer to protect yourself, get an LLC! It doesn't cost thousands of dollars to get one...not even 1k (depends on your state) And if your business ends up not working, then you dissolve it after one year. Simple. Also, if you want to protect your privacy, get an LLC through an agent. I would recommend people read "how to use limited liability companies and limited partnerships" by Sutton. It explains everything. Once you start making a profit, you will need a good CPA and lawyer to have a good tax strategy
@bwilks3056
@bwilks3056 2 года назад
Wow! Thanks for this additional info :)
@AestheticGameBoy
@AestheticGameBoy 2 года назад
What are the pros and cons for getting an LLC through an agent? And thanks for all this info!
@michaeladams6050
@michaeladams6050 2 года назад
do i have to do through an agent or can i do it online
@Steakstime
@Steakstime 2 года назад
If you understand accounting then do it yourself, if not then it's very smart to have a professional do it for you
@GoredGored
@GoredGored Год назад
Completely agree. His advice is for 18-24 years old with no asset.
@jdblack9703
@jdblack9703 Год назад
I am a CPA in California. I have at least a half dozen clients with single member LLCs. A couple of these have several. These LLCs are disregarded entities that file “all zeros” tax returns and pay the minimum state tax, pay me to prepare these, and pay me again to report these on Schedules C on their personal returns and pay self employment tax. Another thing I see that I don’t understand is that several of my clients go out and setup retirement plans with administrators and advisors while in the past the clients didn’t contribute to an IRA. You video is excellent. Keep up the good work.
@mindyweaver9279
@mindyweaver9279 3 года назад
Thank you - I would have been one of "those people" who would try to start an LLC before they needed to, I appreciate the honest information.
@deadringer-cultofdeathratt8813
@deadringer-cultofdeathratt8813 2 года назад
Same
@highlife7899
@highlife7899 2 года назад
Dido
@perryd43
@perryd43 2 года назад
Me too 😂
@sandyj3945
@sandyj3945 Год назад
Me too.
@reaktorleak89
@reaktorleak89 3 года назад
Thanks for explaining the importance of timing when starting an LLC.
@MoneyGist
@MoneyGist 2 года назад
This video had me cracking up... at myself! So accurate. Especially the bit about forming an LLC (and opening a corporate bank account) with absolutely no revenue.
@oliferous
@oliferous 2 года назад
This is such a great bit of advice! i really appreciate your honesty and genuine offering of helpful advice. I'm just starting to upscale my online selling/trying to go fulltime with it and this is the kind of help I need right now. So thanks and I will be watching...and subscribin' and learnin'!! Thank ypu sir!!
@moonlightj0y
@moonlightj0y 3 года назад
Thank you souch for this! I am so sick of the misinformation on social media about this topic.
@bfreeinjesus2323
@bfreeinjesus2323 Год назад
Wow, the most honest lawyer I've heard on this topic! Thanks Sir!
@TimothyP.
@TimothyP. 2 года назад
Not what I expected to hear, though 100% what I NEEDED to hear! Thank you so much for saving me time, money, and worry!!!
@levijuneybeats
@levijuneybeats 3 года назад
This was an informative video, I like how you broke down the purpose for an LLC
@Mz.Xtreme
@Mz.Xtreme 2 года назад
Thank you, I love how direct and clear you are. Not harsh at all bit honest and thats good business, it made me laugh.
@TaraWagner
@TaraWagner 2 года назад
Yes! I agree 100%. First secure the business then move forward with the right legal structure for your biz. Nice vid! :)
@Jinkzed01
@Jinkzed01 Год назад
You can’t do that for every business…it really depends on what your are trying to accomplish. This is a blanket video that is kinda poorly done.
@vortexrising2943
@vortexrising2943 3 года назад
This guy is a G he just saved me $800
@rebeccazegstroo6786
@rebeccazegstroo6786 9 месяцев назад
Thanks. One less thing to worry about. You spelled it out very clearly and concisely.
@el_dominikilla7511
@el_dominikilla7511 2 года назад
This is exactly what i needed to hear. Thank you so much for the informative video. Have a blessed day!
@tomcarr5458
@tomcarr5458 3 года назад
Most people need an LLC to get to S Corp status to save on taxes so unfortunately LLC becomes mandatory. it’s not always about liability, it’s mostly about tax savings
@WhatItDoobie
@WhatItDoobie 2 года назад
agreed
@dixielanddigital7952
@dixielanddigital7952 2 года назад
If you have an LLC you can back date your S Corp if/when it's needed.
@mexinumba1
@mexinumba1 2 года назад
thats and also if you in the construction bussiness it opens up a lot of doors, I feel it makes you look more professional
@grapplerguy2007
@grapplerguy2007 2 года назад
My accountant says s corp and llc are same thing without one oe the other he says i can do llc no need for scorp
@mickeyjo8897
@mickeyjo8897 2 года назад
Not only starting one to generate longevity.. You know what you need to get business credit down the road.
@eskyonthefly4751
@eskyonthefly4751 3 года назад
I Love this video, I tried explaining how my friends don't need this but they don't listen, but I think you'll convince them!
@nicholassouza5475
@nicholassouza5475 2 года назад
Thank you for this video, I formed an LLC when I was younger only because I remembered it from business class thanks for educating me and others. Terminating my LLC tonight
@cjohnson033
@cjohnson033 2 года назад
Awesome information, thank you for making it understandable to the startup companies.
@jgboyer
@jgboyer 2 года назад
Thanks for the straight advice! Solved my dilemma.
@arcariusmexen1104
@arcariusmexen1104 Год назад
Thanks for the insight. Just formed one so this wasn't easy to hear but it's done and I intend on moving forward. Thank you.
@jimhart
@jimhart Год назад
You got this!
@lnew2728
@lnew2728 Год назад
Thank you soooo much for this the honesty is what is needed. Let me slow down for a second and regroup. 🙏🏾
@LocalShaper
@LocalShaper 3 года назад
Jim you are awesome! Always keeping it real!
@brianwillis9024
@brianwillis9024 3 года назад
I love these sets of videos a treasure trove of info and you do a great job explaining things.
@jimhart
@jimhart 3 года назад
Thank you!
@user-xv1yw5ph2y
@user-xv1yw5ph2y Год назад
Appreciate this candid video very much. I think many of us want to form an LLC right away before our business generates income because 1. we are excited and 2. We want to apply for grants/loans using our business name. This video helped clarify why we shouldn't rush to get an LLC if just selling digital products or certain items online that wouldn't attract an easy lawsuit etc. Thank you!! Please make more videos!!!
@sarahaquino1630
@sarahaquino1630 3 года назад
This video was really helpful, thanks for posting.
@AnthonyMClark
@AnthonyMClark 2 года назад
Your video just saved memory, and a headache. thanks man!
@therebackagain9414
@therebackagain9414 3 года назад
excellent advice... as always! Thanks to this video, my wife and I will not start our business with an LLC... you're awesome!
@raymondspagnuolo8222
@raymondspagnuolo8222 Год назад
I really enjoyed your presentation and style. Very helpful. Thanks for posting!
@jourdanhamme4065
@jourdanhamme4065 Год назад
This was the video I was looking for. Thank you Jim Hart. I see LLC so often in online businesses that I didn't think about needing a business with enough revenue to need to protect it with an LLC. It's not a legal step that if you don't do right away that your are in trouble with the government :)
@tonipraznik2842
@tonipraznik2842 2 года назад
Thank you! This is so informative. I appreciate that you are sharing this information.
@ronsfade8122
@ronsfade8122 Год назад
im a barber and all i do is make my clients happy with their haircut i mean i dont think anyone would sued a barber especially if u provide a good service so i realize that i dont realy need the LLC i rather just file my DBA thank u so much for the honesty and the great message appriciated this is all i need to hear
@jimhart
@jimhart Год назад
Answered your question on my recent live stream!
@robertmcmillan4455
@robertmcmillan4455 Год назад
I was gonna be one of those people, thank you. now I have an idea of where I want to be at when I do set it up
@proudnavymamabear2509
@proudnavymamabear2509 2 года назад
Thank you for clear and concise info!
@avowedindependent3934
@avowedindependent3934 Год назад
I like this guy for his candidness!
@corporatepimpin6505
@corporatepimpin6505 2 года назад
No one‘s going to sue you you’re not doing anything 😂😂😂
@bradycraig9021
@bradycraig9021 Год назад
I really needed to hear this actually. Thank you.
@levatikyn7785
@levatikyn7785 Год назад
First video I’ve watched from your channel. About to watch a lot more! Thank you for taking a boring subject, and not being completely boring so you hold my attention lol
@kbcinmedusn
@kbcinmedusn Год назад
If you sell: 1.Big ticket items (cars, houses, boats, RVs etc.) 2.Potentially dangerous items that can cause injury or death (firearms, power tools, kayaks etc.) 3.If you perform a service that can go wrong and alter someone's appearance or damage their health like a beauty salon or a barber shop 4.If you provide a service that can damage private property like a mechanic shop. 5.If you're selling food to the public These are all reasons to form an LLC.
@steventzd.1084
@steventzd.1084 Год назад
Phone repair ?
@Crabs69
@Crabs69 Год назад
A housekeeping biz ?
@jessicagreene284
@jessicagreene284 Год назад
what about housekeeping?
@Softballmom20
@Softballmom20 Год назад
What about in the metal carport business not red iron but square tubing? Your response is greatly appreciated 🙏🏼
@Okie686
@Okie686 11 месяцев назад
Thanks
@KitbashCustoms
@KitbashCustoms 3 года назад
Thank you for this! This I was gonna form an llc later today but now I’ll wait!
@mayfieldbr
@mayfieldbr 14 дней назад
me too! Glad I came across this video
@EmilyNetzel
@EmilyNetzel 3 года назад
this is so helpful!!! thank you!
@vicmo25
@vicmo25 3 года назад
I was about to try and form an LLC with only $23.43 in bank account 😅
@CobaltxBoom
@CobaltxBoom Год назад
😂😂
@kingdenali6293
@kingdenali6293 Год назад
Mood
@johnbryllejumawan9820
@johnbryllejumawan9820 Год назад
How’s business
@my2cents342
@my2cents342 Год назад
😂😂😂 damn
@texasprepper869
@texasprepper869 Год назад
🤣😏
@BobbieLovesBobbie
@BobbieLovesBobbie 2 года назад
Its not harsh its honest and helpful. Thank you.
@user-oj4kr1nm1s
@user-oj4kr1nm1s 5 месяцев назад
Thank you for this video, sir. Very informative.
@lucyl2003
@lucyl2003 2 года назад
Great information, thank you for sharing.
@anfonieb7434
@anfonieb7434 2 года назад
I needed this information. Thanks
@porschen8055
@porschen8055 5 месяцев назад
Great information for someone just starting out. I’m soaking all this stuff up!
@jimhart
@jimhart 4 месяца назад
Glad it was helpful!
@lyadilatifou9078
@lyadilatifou9078 3 года назад
This video is just GREAT. Thanks Sir. ✅❤️
@graghoul
@graghoul 10 месяцев назад
thank you so much. There just isnt any content out on youtube like this
@carm738
@carm738 11 месяцев назад
Thank you that was really great advice and so glad i stoped by
@StaticonDBZ
@StaticonDBZ Год назад
I watched 11 videos to get here and this was by far the best in many ways. Thank you.
@jimhart
@jimhart Год назад
Thanks!
@kristinkrawczak8728
@kristinkrawczak8728 2 года назад
Thank you!!!! This was amazing!
@tulsalien
@tulsalien 10 месяцев назад
It’s good to hear it because there’s a lot of fear put out about operating as sole proprietors and such ❤❤❤
@DrDre.
@DrDre. 3 года назад
I really appreciate your honesty. Thank you for this. I totally agree with your reasons
@_MusageteS_
@_MusageteS_ Год назад
Amazing advice, thank you
@amwilliams76
@amwilliams76 2 года назад
Thanks so much, this video was just for me.
@raylewis6399
@raylewis6399 2 года назад
I definitely appreciate this video @Jim Hart. And I agree with you 100%. I’ve made the mistake of starting multiple LLC’s and never actually ever built the businesses. Now I would never start an LLC until my business is already generating some income.
@codelucky
@codelucky Год назад
How would you collect payment without a business?
@enochleffingwell6624
@enochleffingwell6624 Год назад
@@codelucky The business isn't an LLC. An LLC is a tax structure for a business.
@codelucky
@codelucky Год назад
@@enochleffingwell6624 Ya, one can collect money via Payment gateway as a sole proprietor as well.
@tedparker640
@tedparker640 5 месяцев назад
@enochleffingwell6624 not really accurate. An LLC is an organizational structure just like a sole proprietary and a corporation. But with a sole proprietorship, the structure is you and only you. Tax liability as well as other liability (injury, insurance etc.) falls solely on the owner, whereas with a corporation, the organizational structure is pre determined and there are lots of rules on how the company is structured and ran. An LLC gives the most options as to how to structure and run a company. What officers there are, what their responsibilities are etc. This is all spelled out in detail in an operating agreement (not to be confused with articles of operation that is filed with the secretary of state outlining the key officers, manager(s) and reporting agent.) The structure for financial/tax purposes is either an s-corp or a c-corp.
@AnikoSMH
@AnikoSMH 3 месяца назад
It actually is what I expected to hear from a lawyer. Thank you Sir!
@vishakhab-l6309
@vishakhab-l6309 10 месяцев назад
Thank you. This was very helpful!!!!
@GregCook68
@GregCook68 Год назад
Great information. Thank you so much.
@celwilson
@celwilson Год назад
Thanks for the info I'm definitely that first example of no current revenue, however I anticipate that won't be the case shortly and the fields that I will be working in I believe that it's the correct path.
@chadpunisher
@chadpunisher Год назад
Thank you I appreciate your honesty Jim
@CreativeSoul333
@CreativeSoul333 3 года назад
Thank you, thank you, thank you!!!!! BTW, you have the best personality and you always make me laugh...LOL!
@paolamorales3753
@paolamorales3753 Год назад
awesome video ! thank you for the advise 🙏🏼
@jimhart
@jimhart Год назад
Glad it was helpful!
@AmberJones-cq6wn
@AmberJones-cq6wn Год назад
I appreciate your advice to new entrepreneurs who would otherwise waste money !
@Cigarette-gg9ur
@Cigarette-gg9ur Месяц назад
Thank you sir I know I want to be successful in life im 16 and every thing is very frustrating right now you got straight to the point 💯
@pcmateo42
@pcmateo42 2 года назад
Thanks Doc this was as real as it gets.
@PlumBerryCherries
@PlumBerryCherries 2 года назад
This was perfect. Thank you Jim.
@fortresstarot3419
@fortresstarot3419 2 года назад
Thank you for the laugh. Blunt honesty is always the funniest.
@DaniGirl6
@DaniGirl6 Год назад
Thank you for posting this, clears up that I am not ready yet to go for a LLC.
@jimhart
@jimhart Год назад
You should watch one of my more recent videos where I give updated thoughts on this video.
@shelitaw12
@shelitaw12 3 года назад
I enjoy your videos. I learn a lot from them too.
@shelitaw12
@shelitaw12 3 года назад
Wish I would've found you before I formed my L.L.C.
@rosahodge420
@rosahodge420 2 года назад
Perfect...thank you for the insight. .
@TheBaller97
@TheBaller97 2 года назад
Amazing info 🤝
@alseppi5348
@alseppi5348 Год назад
Good video. Thanks for the imput.
@RPJs-Cuisine
@RPJs-Cuisine Год назад
Damn, u just hit me hard!!!! I have a online bizz with LLC and havent generated any revenue yet. 🤦 just subbed as u have good info
@romeroaguilar8217
@romeroaguilar8217 Год назад
You are awesome. I appreciate your honesty….
@TheTropics4
@TheTropics4 Месяц назад
Thank you so very much for this valuable wisdom! I currently only own my paid off car and I rent an apt. I have no other assets and I'm a brand new fresh beginner just in the research stage of starting my online business. ❣️
@jimhart
@jimhart Месяц назад
Wonderful! Let us know if we can help.
@gregorytaylor4464
@gregorytaylor4464 Год назад
Thanks you good sir this helped tons🙌🏿
@Ethic-Ai-L
@Ethic-Ai-L Год назад
Thank you very helpful!
@brolysfate
@brolysfate 3 года назад
Seriously- THANK YOU. 🙏
@RAZASHARP
@RAZASHARP Год назад
GREAT VIDEO...THANK YOU!!!
@Zombi3_420
@Zombi3_420 2 года назад
No this was a GREAT video!!! THANK YOU!!
@ilariaflores8766
@ilariaflores8766 2 года назад
You make alot of sense. If you’re not bringing in money there’s nothing they can get from you
@hasanchoudhury5401
@hasanchoudhury5401 Год назад
Thanks for your honest opinion.
@NeverEndingVirginHar
@NeverEndingVirginHar Год назад
Thank you so much for this video!!!
@Matt-cr7yb
@Matt-cr7yb 4 месяца назад
Thank you very much for being honest which is very hard to find the world we live in today and I appreciate you for being upfront and from what I see being honest and would short integrity and honesty and now I can probably see why you're very successful so thank you so much and who knows I can't I didn't look to see when this video was made it could have been made a long time ago but hey I appreciate you Matt U.S. MARINE VETERAN
@Kawakajii
@Kawakajii 2 года назад
Thank you!
@ridlondembeats4673
@ridlondembeats4673 2 года назад
I’d rather have truth than any form of information. Thank you for this video and sharing this information!
@Odeemom6
@Odeemom6 2 года назад
I needed a this advice ~ thanks
@sceneseekers1000
@sceneseekers1000 Год назад
thanks great info
@FBi_.
@FBi_. 2 года назад
This is the gold we needed thanks
@papabear4066
@papabear4066 Год назад
Good advice! Thanks
@jimhart
@jimhart Год назад
Glad it was helpful!
@justwhistlinpixie
@justwhistlinpixie 3 года назад
Very informative. I check all these boxed so I SHOULD form an LLC. Just not sure what the right timing is.
@growingwealthwithar2131
@growingwealthwithar2131 3 года назад
Great vid! Thanks!
@supmeme4183
@supmeme4183 Год назад
This is very good advice for most people, I think.
@brendanbenito2809
@brendanbenito2809 2 года назад
So glad I watched this you’re the goat
@milikalomu4301
@milikalomu4301 2 года назад
this was very helpful!!!
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