Starting an LLC: Where to begin?

Dana Wright4 said:Hey there, I have a question:

I just received my certificate of incorporation from the notary yesterday... which means phase one is officially wrapped up. Now I’m wondering:

-What's the next move? Should I head over to TurboTax to see what they suggest, or should I just handle the rest myself?

-Do I need to get a corporate seal made first, or do I go straight to the U.S. Census Bureau? 🤷

I'd love to jump in here and ask—how long does this whole process usually take from start to finish? I'm guessing maybe a month or so, but could it happen faster?

I honestly don't know where to start with this one—there's just so much to unpack. It feels like we're constantly circling the same issues without ever really landing on a solution, doesn't it? I’ve been sitting here thinking about what everyone was saying earlier, and I can't help but feel a bit conflicted. On one hand, you want to believe things will just smooth themselves out—you really do—but on the other, the reality of the situation is starting to look a little more complicated than we initially thought. It’s almost like we’re watching a slow-motion train wreck, except nobody wants to grab the brakes. Anyway, that's just my two cents. I'm curious to see if anyone else feels this same sense of hesitation, or if I'm just overthinking the whole thing. kaže:
Raymond Peterson81,
I’ve been thinking about this lately—why not just sell your vehicle directly to a dealership? If you go that route, you don't have to deal with the headache of getting a formal appraisal, and honestly, there's a decent chance you could walk away with a better price than what some appraiser would slap on it anyway. Plus, it saves you from dealing with those extra costs that pop up during a private sale.😉

That was the first thing that crossed my mind—honestly—but a colleague of mine shut me down pretty quickly, telling me it just wasn't an option.

If I can ask... how exactly does this work? I have an LLC, and the car is currently registered in my own name—what steps do I need to take to transfer the title over to the business?

It really comes down to travel expenses—things like gas, mileage, and all that extra driving—and stuff like that.

Raymond Peterson81 said:

I honestly don't know where to start with this one—there's just so much to unpack. It feels like we're constantly circling the same issues without ever really landing on a solution, doesn't it? I’ve been sitting here thinking about what everyone was saying earlier, and I can't help but feel a bit conflicted. On one hand, you want to believe things will just smooth themselves out—you really do—but on the other, the reality of the situation is starting to look a little more complicated than we initially thought. It’s almost like we’re watching a slow-motion train wreck, except nobody wants to grab the brakes. Anyway, that's just my two cents. I'm curious to see if anyone else feels this same sense of hesitation, or if I'm just overthinking the whole thing. kaže:
Raymond Peterson81,
I’ve been thinking about this lately—why not just sell your vehicle directly to a dealership? If you go that route, you don't have to deal with the headache of getting a formal appraisal, and honestly, there's a decent chance you could walk away with a better price than what some appraiser would slap on it anyway. Plus, it saves you from dealing with those extra costs that pop up during a private sale.😉

That was the first thing that crossed my mind—honestly—but a colleague of mine shut me down pretty quickly, telling me it just wasn't an option.

If I can ask... how exactly does this work? I have an LLC, and the car is currently registered in my own name—what steps do I need to take to transfer the title over to the business?

It really comes down to travel expenses—things like gas, mileage, and all that extra driving—and stuff like that.

Why would you even bother? You’ll run into trouble and end up losing the car because once it's listed as long-term company property, it's tied up. You can log local mileage without owning the vehicle through the business. Just file travel vouchers for trips longer than 19 miles miles and bill at the standard $0.67/mile rate. For driving within the city, just do a monthly mileage log and bill at $0.67 per mile. If you really want to go down that road, give the Department of Homeland Security a call and ask exactly what's required for the title transfer. But keep in mind, you can't do both—you either take the mileage or you claim actual costs like gas, oil, and repairs at 70%, while tolls are 100%.

Sorry if I’m being a bit of a nuisance here, but I have to ask since I'm genuinely unsure—can I actually do this with a private vehicle, or just any car for that matter?

For instance, if I were to take a rental and then fill out a travel expense report... well, let's just ignore the fact that it wouldn't even be worth the effort...

I have a quick question and I’d appreciate an answer as soon as possible... how does one actually start a modeling agency? I want to do this the right way, but I have no clue what all the requirements are. Thanks in advance.🙂

Raymond Peterson81 said:Sorry if I’m being a bit of a nuisance here, but I have to ask since I'm genuinely unsure—can I actually do this with a private vehicle, or just any car for that matter?

For instance, if I were to take a rental and then fill out a travel expense report... well, let's just ignore the fact that it wouldn't even be worth the effort...

That’s exactly what I wrote regarding the mileage rate($0.67/mile) for using a personal vehicle for business. Basically, the car has to be registered in your name as a citizen. It doesn't matter how you acquired it—whether it's through a loan, a lease, or you bought it outright from someone—as long as the title is in your name. The main thing is that on those mileage logs, you have to list the vehicle's license plate along with everything else. What exactly do you mean by "taking a rental"?

mistyeagle91 said:I have a quick question and I’d appreciate an answer as soon as possible... how does one actually start a modeling agency? I want to do this the right way, but I have no clue what all the requirements are. Thanks in advance.🙂

Of course you can! Honestly, the best way to get the scoop is to just give Amazon at Goldman Sachs a call if you're down in Washington, D.C. near Broadway. They’re super friendly, too. Plus, they handle everything from start to finish—from the initial paperwork all the way through registering your LLC or sole proprietorship. It saves you the headache of having to hire outside help, which, let's be real, ends up costing you a lot more if you go the private route.

I’m thinking about starting my own little travel agency business
Do I actually need a physical storefront for this branch? And does it have to have set operating hours? I guess I'm also wondering if someone needs to be physically present there at all times. Could I potentially set up the office in some tiny rural town but then just run the whole operation from somewhere else entirely? Thanks.

The answer to everything is basically yes—you’re going to need a branch manager too.

Charles Ramos7 said:The answer to everything is basically yes—you’re going to need a branch manager too.

So, I guess I could theoretically open a branch in some tiny town out in rural Montana while actually running things from somewhere like Seattle... right? And can I just set up a branch in my own apartment on the 13th floor, for instance? Does it strictly have to be a ground-floor space? Thanks...

Not necessarily. You can have your headquarters out in the middle of nowhere while actually working out of a branch office in Santa Barbara.
As for the branch itself, there are certain requirements regarding square footage and equipment, though I'm not entirely sure about the rules for ground-floor units.
btw, if you don't plan on seeing clients face-to-face, you could just run everything online—in that case, you wouldn't even need a physical office.

Charles Ramos7 said:Not necessarily. You can have your headquarters out in the middle of nowhere while actually working out of a branch office in Santa Barbara.
As for the branch itself, there are certain requirements regarding square footage and equipment, though I'm not entirely sure about the rules for ground-floor units.
btw, if you don't plan on seeing clients face-to-face, you could just run everything online—in that case, you wouldn't even need a physical office.

So, basically, I can set up an LLC, and if I'm just working remotely without any client interaction, I don't actually need physical space...

James White9 said:So, basically, I can set up an LLC, and if I'm just working remotely without any client interaction, I don't actually need physical space...

You don't need a storefront, sure, but you still need a registered business address for your headquarters, just like any other company (even if it's just converting a spare room in your house).

Charles Ramos7 said:You don't need a storefront, sure, but you still need a registered business address for your headquarters, just like any other company (even if it's just converting a spare room in your house).

I suppose I'm going to bore you all again... but what about things like restroom access within a commercial space?

Nah. If we're talking about running a business out of an apartment. By the way, don't you have a bathroom in there?
Yeah. If we're talking about a travel agency.

Charles Ramos7 said:Nah. If we're talking about running a business out of an apartment. By the way, don't you have a bathroom in there?
Yeah. If we're talking about a travel agency.

Yes, I have a restroom and a bathroom.😁
I mean, I think I saw somewhere they require a half-bath and a full bath... so I suppose that could just be the powder room and the main bathroom...

Well, you're right about that, min. Technical requirements are mandatory for certain industries, but in your case, they'd only kick in if you were actually running an agency.

"By the way, if you don't plan on having face-to-face client interaction, you could just operate entirely online. In that scenario, you wouldn't even need a physical storefront."

Where exactly can I verify this? I've been digging through the tax codes and regulations, but I haven't stumbled upon a specific clause that perfectly matches my situation...
Thanks, Charles Ramos7

http://www.federalregister.gov/documents/2023/example-link

Section 20/2

Incorporation takes place at the commercial court, and you don't need any minimum technical requirements right away. Once you have all your paperwork in order, the process wraps up in just a few days with a court ruling. You'll need to get a company seal made. After that, you head over to the Census Bureau to get your tax ID. Then, you have to register for a VAT number with the IRS. Finally, you need to post a business sign at your registered address.
Later on, if certain specific industries require them—like a hair salon, for instance—you can apply for those minimum technical permits.
The whole thing demands quite a bit of paperwork and time.
It's also essential to hire an accountant, since managing the books for an LLC is significantly more complex than it is for a sole proprietorship.
And so on...