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Thread: LLC Ownership

  1. #1

    LLC Ownership

    Hi,

    Does anyone own a LLC here, either for consulting or other purposes? Just wanted to get some pointers on the steps to be taken to open one, pros/cons, tax obligations, any insurance needed....

    Thanks in advance...
    NSC || PD : Sep 2007 || RD: 03-Nov-2011 || ND: 08-Nov-2011 || FP : 16-DEC-2011 || EAD/AP : 20-Dec-2011 || I-485 Approved: 09-Feb-2012 (Mera # aa gaya)

    I am not a lawyer, and don't play one on TV. Things I say may sound like legal advice, but they are really not!!

  2. #2

    Lightbulb

    gch

    I will tell you what my understanding is. It may not be the best ... so take it with a pinch of salt.

    LLC by def is Limited Liability i.e. you need it to protect your personal assets from any liability that might arise as a result of your business activities.

    LLC is NOT a required thing to run your business. It is a protection that law offers to you in case you want it.

    Quote Originally Posted by gchopeful123 View Post
    Hi,

    Does anyone own a LLC here, either for consulting or other purposes? Just wanted to get some pointers on the steps to be taken to open one, pros/cons, tax obligations, any insurance needed....

    Thanks in advance...
    I no longer provide calculations/predictions ever since whereismyGC.com was created.
    I do run this site only as an administrator. Our goal is to improve clarity of GC process to help people plan their lives better.
    Use the info at your risk. None of this is legal advice.

    Forum Glossary | Forum Rules and Guidelines | If your published post disappeared, check - Lies and Misinformation thread


  3. #3
    gchopeful,

    I found legalzoom.com has some videos and FAQs. You might want to check these out:

    http://www.legalzoom.com/llc-guide/l...du-center.html -> There is a Free LLC Guide option in the left column...provide your email and they send you a link to pdf with some basic information on LLCs.
    http://www.legalzoom.com/business-fo...ormations.html
    http://www.legalzoom.com/incorporati...omparison.html
    Last edited by gc0907; 01-31-2012 at 12:45 PM.

    NSC - EB2I | PD: Sept, 2007 | RD: 03-Nov, 2011 | ND: 08-Nov, 2011 | FP Notice: 10-Dec,2011| FP Done: 30-Dec,2011
    EAD/AP(Approval Email): 09-Dec, 2011 | EAD/AP(Physical Card): 15-Dec, 2011
    GC(Approval Email): 27-Jan, 2012 | GC(Physical Card): 01-Feb, 2012


  4. #4
    Thanks buddy, I will check it out.

    Quote Originally Posted by gc0907 View Post
    gchopeful,

    I found legalzoom.com has some videos and FAQs. You might want to check these out:

    http://www.legalzoom.com/llc-guide/l...du-center.html -> There is a Free LLC Guide option in the left column...provide your email and they send you a link to pdf with some basic information on LLCs.
    http://www.legalzoom.com/business-fo...ormations.html
    http://www.legalzoom.com/incorporati...omparison.html
    NSC || PD : Sep 2007 || RD: 03-Nov-2011 || ND: 08-Nov-2011 || FP : 16-DEC-2011 || EAD/AP : 20-Dec-2011 || I-485 Approved: 09-Feb-2012 (Mera # aa gaya)

    I am not a lawyer, and don't play one on TV. Things I say may sound like legal advice, but they are really not!!

  5. #5
    Quote Originally Posted by gchopeful123 View Post
    Thanks buddy, I will check it out.
    Dude, I was also looking in the same direction...Could you please share if you find anything..

    Cheers !

  6. #6
    I read the LLC Guide by legalzoom and it does have good basic information. Apart from that you can call their support and I am sure they will answer some general questions (I didn't try it though).

    Quote Originally Posted by Trident View Post
    Dude, I was also looking in the same direction...Could you please share if you find anything..

    Cheers !

    NSC - EB2I | PD: Sept, 2007 | RD: 03-Nov, 2011 | ND: 08-Nov, 2011 | FP Notice: 10-Dec,2011| FP Done: 30-Dec,2011
    EAD/AP(Approval Email): 09-Dec, 2011 | EAD/AP(Physical Card): 15-Dec, 2011
    GC(Approval Email): 27-Jan, 2012 | GC(Physical Card): 01-Feb, 2012


  7. #7
    Thanks bud...

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