Starting an LLC: Where to begin?

Is there any truth to the rumors that waiting times for business licenses have skyrocketed lately—like, we’re talking over six months just to get cleared?

I’ve heard a few people suggesting this backlog is actually a direct result of people abusing the system by setting up shell companies just to dodge their taxes. Apparently, they spin up a corporation, run a couple of massive transactions through it, and then just shut the whole thing down before the IRS can even blink.

No.

Does anyone have any real-world experience managing a business or a small LLC when you aren't actually local? For instance—I’m currently living in a different city from my permanent address (my parents' place), but I'm looking to launch my own venture.

Well, even if it's just a hundred miles away, it's still a distance—so I'm wondering if there's a way to set up a proxy or an assistant to handle the day-to-day operations. Or should I just accept that all the physical mail will go to my home base and try to sort everything out as I travel back and forth? I'm thinking specifically about things like bookkeeping and stuff like that.

Keskin, I’m not really following what you’re asking here...

If you’re just getting a business off the ground, why wouldn't you set it up right where you live?

Personally, I could never hand over the keys to someone else to run my company. At the end of the day, the director is the one on the hook for how things perform, and honestly, I'm the type who needs to have my eyes on everything happening under the hood. 😁

Well, I was just thinking

I run my business out of my parents' place since I haven't bought my own house yet—and right now, I'm actually living about 60 miles away as a renter. I want to officially set things up, but I'm stuck on how to manage everything without constantly driving back and forth between the two places.

The business address is a big deal here. I don't really care where my actual office is located, but the problem is all the mail—like bills and official notices—is going to end up at my parents' house instead of where I actually live. 😉

Hello, I have a question regarding credit scoring. What specific principles do the authorities use to calculate these ratings? When I reviewed my own financials according to their standards, I ended up with a loss of 60 $0.00. It does not feel nearly as catastrophic as they imply, does it? 🙄

http://www.wsj.com/articles/example-article

Look, silverbison293, it wasn't exactly rocket science... 😉

Raymond Peterson81 said:Well, I was just thinking

I run my business out of my parents' place since I haven't bought my own house yet—and right now, I'm actually living about 60 miles away as a renter. I want to officially set things up, but I'm stuck on how to manage everything without constantly driving back and forth between the two places.

The business address is a big deal here. I don't really care where my actual office is located, but the problem is all the mail—like bills and official notices—is going to end up at my parents' house instead of where I actually live. 😉

Maybe I’m misreading things, but if I’m following correctly, you mentioned you already run a business—and now you're looking to start another one? 🤷

If you register your LLC under your parents' address, that’s where all the paperwork and bills start landing. It can get messy fast. But if you set up an actual office elsewhere, you can use that as your mailing address instead. Your delivery address doesn't have to match your official business registration, so you can dodge a lot of that administrative headache right out of the gate.

silverbison293 said:http://www.wsj.com/articles/example-article

Look, silverbison293, it wasn't exactly rocket science... 😉

The information provided is excellent, though I have no personal need for a textbook. I am not looking to perform complex calculations myself; rather, I am simply inquiring if anyone might be able to provide a few key points.

I haven't been able to find a direct answer to my specific question while scrolling through this entire thread, so I was wondering if anyone with some firsthand experience might be willing to weigh in on a quick scenario for me?

If I were to launch a startup within a tech hub or perhaps a local small business incubator, and if they offered me a rent-free workspace for that first year, would the IRS still step in and try to claim that "free" rent as a taxable benefit based on its fair market value, or would those overhead costs simply be considered covered by the tech hub itself?

Thanks so much!

Hello everyone,

Since I’m still finding my way around this forum and haven't quite figured out how to start a new thread yet, I was hoping to lean on your collective wisdom. Does anyone here have firsthand experience with leasing a nightclub? I'm trying to get a realistic handle on what the actual costs look like. Are there any hidden fees or "under the table" demands that tend to pop up during the process? Also, when you take over an existing lease, do you find yourself stuck paying for redundant inspections or re-certifications? Specifically, if all the local city inspectors and fire marshals have already signed off on the venue, do they force you to pay for a whole new round of approvals just because the name on the lease changed? It seems like a lot of unnecessary red tape.

Thanks in advance,

You have to start from scratch—pay for every single thing all over again—and if you want the specifics, you can head down to the local Chamber of Commerce office...

Racketeteering??? What on earth is that supposed to mean? 😂

Well, I certainly hope you factored that into the ticket price 😉

silverbison293 said:You have to start from scratch—pay for every single thing all over again—and if you want the specifics, you can head down to the local Chamber of Commerce office...

Racketeteering??? What on earth is that supposed to mean? 😂

Well, I certainly hope you factored that into the ticket price 😉

Dear silverbison293,

I appreciate you getting back to me. Based on your response, it’s clear you really know your way around this line of work. Since you clearly have the expertise, would you mind sharing a few more specifics about the role? I'd love to hear more.

Thanks in advance.

Look, let’s keep things casual here—we’re all on a first-name basis, just trying to help each other out where we can...

I don't have any firsthand experience with opening up a nightclub, but honestly, in this country, anything is technically possible—so my best advice is to actually go talk to the local zoning office or the Chamber of Commerce where the property is located. They’ll give you the full rundown on what you need and whether you’ll have to pull entirely new permits if the building already has its paperwork in order.

As for whether there's extortion going on in your area... I wouldn't know. How could I possibly tell?
Personally, I wouldn't even dream of opening a disco unless I had the right connections—and you know exactly the kind of people I mean...😉

I’m trying to put together an annual budget for a new LLC... so far, these are the expenses I’ve managed to track;

- Salaries including payroll taxes
- Website development
- Website maintenance
- Accounting fees
- Phone and travel expenses
- Rent and utilities
- Annual business registration fees
- Incorporation costs
- Corporate income tax

Setting aside salaries, web costs, travel, and rent—can you help me with two things? 1. Roughly how much should I budget for the other items listed? 2. What am I missing? Is there anything else I'll be paying monthly or annually?

I need this info fairly quickly, so apologies if this has already been asked somewhere else...

Thanks

Paul Kim8 said:I’m trying to put together an annual budget for a new LLC... so far, these are the expenses I’ve managed to track;

- Salaries including payroll taxes
- Website development
- Website maintenance
- Accounting fees
- Phone and travel expenses
- Rent and utilities
- Annual business registration fees
- Incorporation costs
- Corporate income tax

Setting aside salaries, web costs, travel, and rent—can you help me with two things? 1. Roughly how much should I budget for the other items listed? 2. What am I missing? Is there anything else I'll be paying monthly or annually?

I need this info fairly quickly, so apologies if this has already been asked somewhere else...

Thanks

What about computers, Microsoft Office, and other business software?

ruggedgull11 said:What about computers, Microsoft Office, and other business software?

I've got my own personal laptops I'd roll into the startup capital... they all come with their original OS. As for software, I don't really need much right now since the company would focus on consulting services. A basic Microsoft Office setup with some spreadsheets and letterheads should cover it.

😕
Why would they reject my proposed business name? It’s not in any official registry, I searched on Google and nothing comes up, and it isn't weird or offensive... They didn't even give me a reason, just said I need to add something more... Add what? Why? 🤷

Is it normal to ask for an explanation, or has anyone else dealt with this nonsense?

One reason things might be getting flagged is if the name just doesn't sit right with standard American English rules. Why not just ask the person who rejected it in the first place? When a woman over at Craigslist told me I couldn't use the name I had in mind, I asked her why, and she said there was a foreign word in there. Turns out, I actually got my way because the term in question was technically Latin. In the US, Latin and Greek roots usually slide right through, but everything else gets scrutinized. Just a little bit of info from my side of things.