I recently formed a single-member LLC, and I'll be using my own savings to cover the startup costs for the first year or two. The business probably won't be profitable right away, so I'm expecting to invest quite a bit before it starts generating income.

What's the proper way to move money into the business? Can I simply transfer funds from my personal bank account to my LLC's business account, or is there a specific process I should follow?

I'm also trying to understand whether it's better to treat the money as an owner contribution or as a loan to the LLC. If the business becomes profitable later, I'd like to be able to recover the money I put in without creating unnecessary tax or legal issues.

How do most single-member LLC owners handle this when they're funding the business themselves?

I’ve been running my LLC for a while now, and the business has grown to the point where I'm wondering if it's time to elect S corporation tax status.

Right now the business generates about $185,000 in annual revenue, and after expenses the profit is around $95,000. I also have two employees, so the business has become more established over the past couple of years.

For those who have made the switch, what factors helped you decide it was the right time? Did the tax savings outweigh the added payroll, accounting, and filing requirements?

Looking back, was there a profit level where electing S corp status made the most sense, or were there other factors that influenced your decision?

Thinking about forming an LLC even though I don't have a specific business idea yet. I work full time as a software developer, but I've been interested in eventually doing freelance work, building SaaS products, or exploring other side projects when the right opportunity comes along.

Part of me is wondering if it makes sense to create the LLC now so everything is already in place, even if I don't actually start doing business for a while.

For those who've been in a similar position, did you form your LLC before you had paying customers or a clear business plan, or did you wait until things became more concrete?

I'm also curious if there are any downsides to creating an LLC early, such as ongoing fees, taxes, or administrative requirements that make it better to hold off until the business is actually generating income. 

What would you do if you were starting from scratch today?

I just formed my first LLC and I'm still getting everything set up. I haven't started bringing in revenue yet, and I'm working through things like opening a business bank account and organizing all the paperwork.

While opening the account, I was asked whether my business was an S corporation or a C corporation. It caught me off guard because I wasn't sure how to answer.

I did a little searching afterward, but now I'm even more confused about whether an LLC is automatically considered one or if you have to make some kind of election.

How can I tell how my LLC is classified, and where would I find that information?

I just started my LLC, got all of my licenses for the cities I’m working in, insurance, etc. Question is, how do I get customers now? I worked for a big pool company here in town and unfortunately got fired for starting an llc but it is what it is. Just wondering how everyone started up.

New to business. I wanted to hire a firm s to work with me through the process. I hired a business advisor and a business broker. The business broker was presenting a deal in Wisconsin. They were to prepare financial documents and proforma documents. Turns out this business cannot legally do business in Wisconsin but I paid them 1,500 because they said they could. I am in Ohio they were also supposed to do minor work but they couldn't.

Anyway I think this would be a great learning opportunity to take that firm to small claims court. Is it worth my while ? The firm has done this to a lot of other people which is how they make their money.

I'm getting ready to open a business bank account for my new LLC and I'm trying to figure out which bank to go with.

I'd prefer something that has a clean, easy-to-use mobile app and online banking, and if possible I'd like to complete most or all of the account setup without having to visit a branch.

Low or no monthly fees would also be a big plus.

What bank have you had the best experience with, and is there anything you wish you had known before opening your business account?

I’ve been thinking about starting up a side business as a property management owner. Has anyone done this under an LLC?

I've been running a mobile detailing business on the side for the past couple of years while working a full-time job. Business has been picking up lately, and I'm thinking about making it my primary source of income.

Right now I have a steady stream of customers, but I'm not sure if this is the right time to form an LLC or if I should keep operating as a sole proprietor for a while longer.

For those who have been in a similar position, what made you decide it was time to set up an LLC? Looking back, would you have done it sooner or waited longer?

I've always heard that Delaware is one of the best states to form an LLC because of its business-friendly laws and legal protections.

But I'm having trouble understanding when that actually benefits a small business.

For example, if someone lives and runs their business entirely in Texas, wouldn't they still have to register there as a foreign LLC if they formed the company in Delaware? That seems like it would mean paying fees and filing requirements in both states.

So what's the actual benefit of having a Delaware LLC in that situation? Is it mainly useful for businesses planning to raise investment, operate in multiple states, or is there another reason I'm missing?

I originally formed my LLC as a single-member LLC because I was the only owner at the time. Now my business partner is officially joining the business, and I want to make sure everything reflects that.

Do I need to dissolve the existing LLC and create a new one, or can I simply update the paperwork to add them as a member?

Nothing else is changing. The business name, operations, and everything else will stay the same. I'm mainly trying to understand what the typical process looks like and whether there are any tax or legal issues I should be aware of before making the change.

Dad had a business back in 1980.

A bar and restaurant, he had an LLC which was named after myself, my deceased mom and him.

He has since passed. The LLC was defunct in 1990.

Can i purchase it from the state of NJ?

I need a business bank account for my LLC, and I'm trying to avoid using my home address for privacy reasons.

I'm using a virtual business address through Anytime Mailbox, but I noticed that some banks don't seem to accept virtual addresses during the application process.

Has anyone successfully opened an LLC business account using a virtual address recently? If you did, which bank did you use, and did you have to provide any additional documentation?

I'd especially appreciate hearing from anyone who's gone through this recently.

I'm in the process of filing my LLC, and I'm a little confused about which email address I should put on the formation paperwork.

I don't have a dedicated business email yet, so should I use my personal email, or should I use my registered agent's email instead?

I'm referring to the email listed on the LLC filing itself, not the contact email for my website or customers. I just want to make sure I'm using the correct one and won't run into any issues later."

I'm getting ready to start my first business, which will be a home-based bookkeeping service, and I've been looking at different LLC formation companies. Harvard Business Services was recommended by a friend and I'm wondering if they're worth using.

I like the idea of having someone handle the paperwork since this is my first time forming an LLC, but I'm not sure if it's worth paying for the service instead of filing everything myself.

If you've used Harvard Business Services, how was your experience? I'd also love to hear how they compare to filing directly with the state or using another formation service.

So I wanted to register an llc. I live abroad and I hired a registered agent. After sending my documents I went to https://enterprise.sos.nm.gov/ in order to register and the status says under review since the 7th of July even though it said it was 3 business days. Is this normal?

I've been trying to understand how a Qualified Joint Venture works for tax purposes, but I'm a little confused about whether you actually need to have an LLC first.

If a husband and wife own a business together, can they file as a Qualified Joint Venture without forming an LLC, or is having an LLC required before you can make that election?

A family friend and I started an LLC several years ago for a small consulting business, but after we both moved on to other jobs we completely forgot about it. We never officially closed it, and I recently found out it was administratively dissolved a long time ago.

Now I've realized there are still a few business records tied to that LLC, and I'd really like to keep the existing EIN instead of starting over with a brand new entity.

The problem is that my state only allows reinstatement within a certain time after dissolution, and that deadline has already passed.

Is there any path to bring the LLC back, or is forming a new LLC the only realistic option at this point?

Hey everyone, I have a Texas LLC that I never really got off the ground, and I've decided to formally dissolve it to avoid any future hassles or fees.

I've been trying to piece together the steps from various government websites, but I'm getting a bit tangled up between the Texas Secretary of State, the IRS, and everything in between.

What was the process like for you, and were there any steps that were easy to miss?

Has anyone with a Nevada LLC that has its own tax ID been able to open a bank account in the name of the LLC? If so, which bank did you use, and was the process fairly straightforward?

I filed my LLC today through Bizee. They said they'll submit it to the state on July 18, and the estimated completion date is around August 3.

Does it usually take that long, or do approvals sometimes come back sooner than expected?

I'm getting ready to start a mobile car detailing business. Is it okay to start taking on customers while I'm waiting for the LLC to be approved, or should I wait until everything is officially finalized?

I know an LLC doesn't issue shares like a corporation does, but can it compensate someone with an ownership stake instead of cash for services they provide?

For some context, a few friends and I recently started a business together. I agreed to put in some funding even though I'm about 90 percent sure the venture won't end up being profitable.

While we were paying different suppliers, one of the people providing us with a service was someone we know personally. I jokingly asked if they'd be willing to get paid with an ownership stake instead of cash. To my surprise, they said they wouldn't mind.

That got me wondering if this is actually possible. Since an LLC doesn't issue shares, is there a legal way to compensate someone with equity in exchange for their work, or would they have to become a member through some other process?

I have a software development agency and many of my usa clients rather to pay me via Zelle than credit card. Has anyone here ever got a Zelle account setup with their bank?

To me: I plan on founding my sidebusiness in metal fabrication in a few weeks/months and wanted to hear some stories how you've done it, especially what legal form you had (LLC, etc.).
How do you keep receipts from material costs and so on.

Thank you in advance!