Are You Ready for that LLC?

So you think you’re ready to form an LLC? ⠀
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LLC is short for “Limited Liability Company.” So let’s break that down a bit.⠀

Liability is just a fancy legal word that basically means “responsibility.” But... responsibility on steroids...because…well, the law. ⠀
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If you run a business, you’ve probably heard of (and also avoided at all costs) the word liability, or “being held liable” for something. Unfortunately, you can run - but you can’t hide from liability. ⠀
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If something goes wrong in your business, and you haven’t formed an official business entity, then you could be held personally liable. ⠀
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So what is the best way to avoid personal liability? Here’s 3 important considerations you should make when deciding whether or not to form an LLC:⠀
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1) What is your personal assets situation? I don’t mean your assets. I mean the things you own. Bank account(s), your home, your car. These could all could be up for grabs if you get sued and don’t have an LLC. ⠀
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2) Are you working with a business partner? You may think you know your partner - but do you *really* know them? Dirty little secrets? Terrible spending habits? Sadly, this is not the time for optimism, people! ⠀
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3) How much money are you making? To file for & operate an LLC (even if you do so without an attorney) will cost you at minimum, LLC filing fees + $800/year in California. ⠀
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That said, there is nothing quite like the reassurance you feel knowing your business is a registered LLC. ⠀
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Liking the sound of an LLC? Let’s get you filed! DM me to get started.⠀
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*Disclaimer* This post is strictly for general informational purposes only and is not intended to constitute legal advice.⠀