OT: Has Anyone Ever Set Up A LLC?
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.
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.
@"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.
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
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.
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