OT: Has Anyone Ever Set Up A LLC?

[JustinTime18™]

Easy?
Expensive?
Do I need a lawyer?

I want to purchase two assets for an income stream in retirement and I'm thinking holding them in a LLC might have some tax benefits.

[Guest]

pm ing you bro

[Guest]

do you have a good Accountant? i would explore it with him/her first. A lawyer would be good to draw up any legal documents you need if you decide to go that route. I have both an S corp and LLP, But it seems an LLC would work well as you can choose more how you are taxed.

[Guest]

@kmillard said:
do you have a good Accountant? i would explore it with him/her first. A lawyer would be good to draw up any legal documents you need if you decide to go that route. I have both an S corp and LLP, But it seems an LLC would work well as you can choose more how you are taxed.

I do. Unfortunately he also works for drug cartels and the mafia. Further complicating matters, he's on the spectrum and lives out of an airstream.

[Guest]

Very easy to do yourself online.  I just typed in starting an LLC and then read up on the process.  I remember using/reading a page that I will try to attach:  https://www.nolo.com/legal-encyclopedia/forming-llc

[Guest]

Yes, had a lawyer set it up, about three hundred bucks.  Didn't look into doing it myself, had too many other things going on setting up a franchise.