How to Set Up an LLC Step-By-Step for FREE (2024 Guide)
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- Опубліковано 9 чер 2024
- In this video, I'm showing you how to create an LLC step by step in 2023/2024, the easiest and most affordable way possible. I get this question all the time, and this is exactly how I set up my own businesses, and I will walk you through the setup process. If you want to officially start a business in 2024, this video is for you.
[Better alternative] Start your LLC for $39 with Northwest (exclusive deal for my audience only):
bit.ly/northwestLLC
After a lot of research, I've been able to get you guys a crazy deal with Northwest. This is actually now my preferred platform, and it will save you even more money. Plus, the process is pretty much the same and takes 5-10 minutes. It costs just $39 and comes with free registered agent service!
If you'd like to use Bizee (formerly IncFile), follow along and I'll show you how to easily and affordably create an LLC. I earn a referral fee if you use their service at no additional cost to you. By using my links, you're supporting my channel - think of it as a tip for bringing you content.
Start your LLC here:
bit.ly/bizeeLLC
^IncFile just rebranded as Bizee, but it's the exact same platform and service! I used IncFile/Bizee SIX times now and have nothing but great things to say about their service.
I recommend getting the gold/platinum plan for 99% of business owners. It's the one I've used many times in the past and it saves you so much time, and ensures that there aren't any filing mistakes when it comes to your business. Avoid the silver plan as it misses out on a lot of key features that you'll want. Trust me, I made this mistake trying to save a few dollars but it ended up causing me a ton of headache and penalties later on.
My favorite business must-haves:
💳 Best business credit cards: milevalue.com/best-credit-car...
🏦 Novo (best business bank): startupwise.com/novo
🖥️ Best AI website builder ($3/month using code CHARLIECHANG): hostinger.com/charliechang
⚙️ Northwest (best $39 LLC formation service): startupwise.com/northwestLLC
🥇 Hire top 1% overseas talent: paired.so
This video is a bit different than my other videos, but since I was getting this question so much I decided it would be helpful to walk you through setting up an LLC for beginners. A lot of you out there are creating new side hustles or businesses, and an LLC is a great way to make your business more formal, take tax deductions, and limit your liability.
There are so many benefits to creating LLCs, and it's actually a lot more affordable than people think.
For example, in California there is a state filing fee of $75, and using Bizee to set up your LLC can be free. Then there is a yearly minimum $800 state fee - of course this will change depending on what state you are in.
And if you're creating an LLC, it might make sense to elect as an S corporation for tax purposes. You can do this election later on, and for anyone making over $50,000 this is going to likely save you thousands in taxes. I won't get too much into it here, but just know that you have that option with an LLC. You can also talk to your accountant to get their insight on when it makes sense for you to open an LLC or elect as an S corp. If you want to elect to be taxed as an S Corp, the Gold and Premium package includes filing form 2553 which is the form you need to submit.
I hope you get a ton of value out of this video - make sure to like and subscribe for more videos just like this! And if you want to check out other detailed tutorials like this, you can go to my Side Hustle Mastery UA-cam channel:
/ startupwise
Happy hustling!!
-Charlie
Timeline:
0:00 - Intro
0:29 - What we'll cover
0:52 - What is an LLC? Pros and Cons
2:48 - How to set up your LLC full walkthrough
9:46 - Final thoughts and outro on LLCs
Topics covered: form llc online, setting up llc, form an llc, start llc in california, best way to start llc, llc formation guide, llc walkthrough, llc tutorial, guide to starting llc, llc tutorial
Disclaimer: Some of the links above may be affiliate links, which means that if you click on them I may receive a small commission. The commission is paid by the retailers, at no cost to you, and this helps to support our channel and keep our videos free. Thank you!
In addition, I am not a financial advisor. Charlie Chang does not provide tax, legal or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.
► My Instagram: / charlie__chang
2 options to start your LLC here:
bit.ly/northwestLLC ($39 formation package exclusive for my audience only. Northwest is AMAZING!)
bit.ly/bizeeLLC
^I recommend the gold plan for 99% of people- hopefully you found this video helpful, have an amazing day and wishing you the best on your entrepreneurial pursuits!!
-Charlie
I really appreciate you.❤
Great walk-through. I set up my LLC this morning. Thanks for this.
Really love your content.
Can foreigners apply LLC with this website?
is there any additional things need for foreigners?
Thanks for the video! I just purchased the service, looking forward to getting started!
Great video and valuable information, thank you.
But I have a question: Can I open a company from the Bizee platform while I reside in Egypt?
But note: I will open this company and all my work and register in Europe, especially America, but I reside in Egypt. is this normal?
My three favorite channels: Charlie Chang, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
i will check those two out
Awesome video. Great work Charlie!
Thank you very much for your help!!
Is there a reason everyone uses a 3rd party website and not the official government website as it seems very solicited
he’s trying to sell us a product, if you know what you’re doing then going through the a website with .gov at the end
Thank you so much I appreciate it❤
Thx for making this video. What are the pro & cons between incorporating in California vs in Delaware?
Thank you so much!
Great job. Thank you
This is great information, but half of the things on that app you don't need and can do it yourself to save cost. I found that these apps charge an insane amount of money that can easily add up.
thanks
Good video! Can we do multiple nature of businesses with LLC and what is the way?? thanks
This might come in clutch. I was thinking of finally turning my sole prop into an S corp.
Charlie can we do this with a dropshipping store? Also if i did this with a different site to set up my LLC should i do it again with another LLC Site?
What does free mean to you?
Instructions unclear. Set up a shell corporation in the Bahamas and now the FBI is after me.
Does your name rhyme with Scam Like I'm Greed?
😂😂
HILARIOUS!
LMAOOOO
Great video and valuable information, thank you.
But I have a question: Can I open a company from the Bizee platform while I reside in Egypt?
But note: I will open this company and all my work and register in Europe, especially America, but I reside in Egypt. is this normal?
Hi my question is if I open a AmazonSeller account can I set up LLC after I open my account or does it need to be set up before the opening seller account in Amazon
What is the northwest option is this package for $39 similar to gold package provided for LLC
In addition could I use the northwest to set up LLC for a non USA citizen
How to apply for a Seller permit?
LLC for Amazon business account
how would one change from a partnership to LLC?
If you’re planning to use LLCs for real estate, couldn’t you obtain the same protection by increasing your insurance limits?
But there is also a yearly fee of like $1000 for california isn’t there?
How do i use a different adress from my own so its not online
Is it also applied to non US residents ? Thanks
what shoul i choose stat tax for amazon fba
I didn't know I could do the LLC on my own but I went through legal zoom. Now I want to dissolve the business and terminate my LLC. How would I do that? Thank you
Hello, i'm living in Italy and i wanna start dropshipping in usa but i want to open an llc in usa instead in Italy, can i do this or not?
Hey for the address part, should I be using my business address or personal?
Best to do a business address. Personal will be public to everyone.
Thank you
Can i register it as a foreigner live in Viet Nam to do dropsshiing in the US Charlie Chang ?
James Baker CPA here on UA-cam talks about forming international llc
what about this update coming next year: However, as of January 1, 2024, the Corporate Transparency Act (CTA) will require that all LLCs submit annual beneficial ownership reports to the Financial Crimes Enforcement Network (FinCEN)
Is this the same for those of us that live in Canada ?
That was my question as well....
💪🧐🎸 KILLA 🎸👻
Why can’t the operating agreement be edited ?
Hey does anyone know Is the 75$ fee and the 199 fee every year or is it a one time payment, also for the registered agent is the 119 fee monthly or yearly????
One time fee, the state fee is every year
Texas ia 300 filing fee
I don't understand, how come filing online only cost couple hundred dollars and when I called few accountants in New York, they all wants to charge around $1800, why there's an huge price difference. Is this website legit? Thanks
Yes it's legit. I had to chat with them to better understand the packages they offered.
I'm still doing my research, and everything they offer is covering the things I have questions on.
NY is more expensive than other states... and it has stupid proof of publication... I wanted to open in NY, now I am opening in Ohio.
What if i dont have ssn or ein?
You can use an ITIN
If YOU LIKE CHICKEN NUGGETS THEN YOU GOTTA SING ALONG IF YOU LIKE CHICKEN NUGGETS THIS IS YOUR FAVORITE SING
your video is helpful but you go super fast please try to go slow so others peoples can learn too
It’s not free bro 😒
If you live in California or do business in California: you are doing it wrong.
How? Why u say that?
Thank you!🥹🩵