LLC Entity Formation
Frequently Asked Questions
Q: Will my LLC save me taxes?
A: No! LLCs will help with asset protection and are also great for partnership ventures.
Q: What state should I set up my LLC in?
A: Most often you will set up your LLC in the state where you are conducting business or where your rental property is located.
Q: Why do I keep hearing I should set up my LLC in Delaware, Wyoming, etc.?
A: There are specific reasons that setting up in these states could be beneficial, like for privacy or COPE protection. We suggest speaking with an attorney to determine if this strategy works for you.
Q: I need my LLC to be taxed as an s-corporation. Can that be fixed?
A: We can fix that! LLCs are versatile, we can file a form with the IRS to have your LLC taxed as an S-Corp and back date it to the beginning of the year (or to your start date if your LLC is less than a year old).
Articles & Other Videos
LLC Myths: What You NEED to Know!
Mark and Mat break down unique LLC Myths as well as the basics of where and when to use an LLC in your business or investing life. More info at Mainstreetbusiness.com