Should I form an LLC before buying my first truck?

613041

{"text":"I am leasing on with the company under their authority they will provide the plates insurance etc. My question is I eventually plan on forming an LLC is it really important or do I need to do that before I start?","videos":"[]","link":"{}","pics":"[]","canComment":true}

628506

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659914 发表于 2019-05-09 03:11:28 Hi, Can you please tell if I can also form LLC? I am working with a company as 1099. it’s my first 1099 job don’t have much info about it taxes and responsibilities. If I form LLC does it have some kind of monthly cost to me?

","text":"Yes, anyone can form an LLC. Go to the IRS website and get an EIN. File it with your state, usually the Secretary of Treasury website. You can even do the Articles of Organization online. You’ll need those to start a business checking account. Then find a tax person near you that knows 1099 inside and out. Do not use the chain tax services, i.e. H & R Block, Liberty, etc. ","replyToPid":30245}

628506

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659854 发表于 2019-05-08 18:44:49 yes they did all that but I have to set up my own business account.

","text":"At the end of the day is $400 too much, yes. But at least you’ll get it done. Now, never use H&R Block and places like that. Search your area for a tax guy who specializes in 1099. They’re out there. It’ll pay off for you ten fold. ","replyToPid":29818}

57376

{"replyTo":"","text":"Yes","replyToPid":0}

659914

{"replyTo":"","text":"Can I form LLC as a 1099 driver for now? I want to get a truck in future and I want to build business credit so that I can get a truck. Can I use LLC for these purposes like taxes and business credit for a little while till I bought my own truck?","replyToPid":0}

655706

{"replyTo":"","text":"In all honesty LLC can be made online at most of the state government websites and it takes 5-10 minutes and then you create a EIN on the irs website. Fast and free. I don’t know about other states, but in FL for example it costs $135 or so to form an LLC . Now articles and all of the fun stuff that you need for a business account can be printed from the government site after you create one. Sometimes it may take a day for them to finalize the LLC. And then with articles and an irs letter you go to the bank and open the account. After that you will never go back to W2-just like the rest of the fellows said. But you may want to check your state government web site for the future in case if you would like to grow more and open another company  at a later time)))","replyToPid":0}

659854

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628506 发表于 2019-05-08 18:50:12 Going 1099 vs W2

","text":"If i find a company willing to run me flatbed with .55cpm I would definitely consider.","replyToPid":29829}

628506

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659854 发表于 2019-05-08 18:49:50 saved money switching to what? owner op?

","text":"Going 1099 vs W2","replyToPid":29827}

628506

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659854 发表于 2019-05-08 18:44:49 yes they did all that but I have to set up my own business account.

","text":"I wish you the best. It can be intimidating at first being 1099, but I’ll never go back. I’ve saved so much money ","replyToPid":29818}

462372

{"replyTo":"","text":"you can save a lot of money if you do it early and don't rush. I think it's $75 to file in California, and $400 to file within 24 hours.","replyToPid":0}

628506

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659854 发表于 2019-05-08 18:43:00 Roughly $400 and told me I need to get a business account so they can pay me there instead.

","text":"You’ll definitely need the account, but to set that up you’ll need the Articles of Organization and proof you filed your LLC with your state ","replyToPid":29814}

659854

{"replyTo":"","text":"my company made my llc for me and garnished the cost from my paycheck with escrow plus occ acc but i dont lease from them. I have the option to and i only pay $100 escrow for 25 weeks that I'll get back if I leave on \"good terms\" maybe ask the company if they do it for you?","replyToPid":0}

628506

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659854 发表于 2019-05-08 18:25:33 my company made my llc for me and garnished the cost from my paycheck with escrow plus occ acc but i dont lease from them. I have the option to and i only pay $100 escrow for 25 weeks that I'll get back if I leave on \"good terms\" maybe ask the company if they do it for you?

","text":"Wait, what? I’ve had my LLC for 17 years. Your company formed your LLC for you? Then charged you for it?  First of all I’m flabbergasted. Second, how much did they charge you?","replyToPid":29799}

628506

{"replyTo":"","text":"And yes Dementor, start an LLC. I’ve been for 17 years and will never go back to W2 ","replyToPid":0}

620896

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659854 发表于 2019-05-08 18:25:33 my company made my llc for me and garnished the cost from my paycheck with escrow plus occ acc but i dont lease from them. I have the option to and i only pay $100 escrow for 25 weeks that I'll get back if I leave on \"good terms\" maybe ask the company if they do it for you?

","text":"This is surprising and confusing at the same time","replyToPid":29799}

659854

{"replyTo":"","text":"Roughly $400..","replyToPid":0}

628506

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659854 发表于 2019-05-08 18:41:35 Roughly $400..

","text":"Wow. Did they do the Articles of Organization for you and file with your state? What about setting up your business account with your bank?","replyToPid":29811}

659854

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628506 发表于 2019-05-08 18:33:10 Wait, what? I’ve had my LLC for 17 years. Your company formed your LLC for you? Then charged you for it?  First of all I’m flabbergasted. Second, how much did they charge you?

","text":"Roughly $400 and told me I need to get a business account so they can pay me there instead.","replyToPid":29803}

659854

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628506 发表于 2019-05-08 18:42:48 Wow. Did they do the Articles of Organization for you and file with your state? What about setting up your business account with your bank?

","text":"yes they did all that but I have to set up my own business account.","replyToPid":29813}