LLC ? limited liability company needed or not

What is the general Consensus of having a LLC? here in PA it seems to be a relatively easy thing to set up. sorry if this has been covered but I did a site search didn’t come up with anything???

There is more to it than this, but the classification section in this link may help you understand your options in forming an LLC.

Limited Liability Company (LLC)

An accountant is invaluable if you are looking for advice specific to your business and living plans. It’s simple enough to set up. It’s knowing what you are setting up and then living with it after that should be considered.

John thanks for the reply it was a good read…we had desided to do the LLC as a ("disregarded entity”). i should of been more detailed in my question. being a new start up i was looking more toward finding out if it was a good idea for a 1 man show so to speak it go through the motions to do this the first year. i havent even washed anything as a biz yet. trying to get all ducks in a row an the little buggers are all over the place…lol… it was one of the question that was asked of me by the local ins guy. are you ? or will you ? do you have? it also if i remember right was on the app for the EIN??? or maybe vise verse… Basically looking for the pros and cons of this for a nubie… im a little anal retentive when it comes to things like this and don’t want to go overboard, overthinking every little detail. thanks again to you and all here helping me on my way

An LLC is good for even 1 man because it can protect your personal assets should you be sued; however, it is possible for a lawsuit to “pierce the corporate veil or shield” if you do something unlawful in which case, they can go after your personal assets. All income and expenses and equipment depreciation for the LLC are reported on schedule C of your personal tax return.

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You do not have to have an EIN if you are a 1 man show . You can use your SSN, instead.

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And there is nothing wrong with that but at some point in the future, as your company grows, you may desire a EIN. So go ahead and get one here.

Apply for an Employer Identification Number (EIN) Online

It’s free to register and then you can use it for your company in the future.

I have gotten my LLC for here in PA it was very simply. I found that there seems to be 2 ways of doing this . 1 use an online service like legal zoo they do all the work after you fill out an online form you pay them money to do this plus all the state fees or 2 do it your self…I would recommend that if you are thinking of doing so…do it your self. you need to know what your getting into and you already have the internet or you wouldn’t be here… a little research and done .all the forms were on line (for PA) filled them out printed them out signed wrote check for state fees and mailed 7 day turn around done…

you should also get in contact with an accountant and a lawyer to make sure all you ducks really are in a row

Its easy in Maryland. Go to the Maryland Dept of Assessments and Taxation, complete the form and mail in with a $100 check. My wife is a CPA and said that LLC is the way to go.

EIN is also a good idea, especially if you want to open a bank account and its FREE to do. You can do that online through the IRS website.

If you google it, be careful you are on the IRS website. I accidentally got on a website that I thought was an official IRS website and almost paid $149 as a “fee”.

Its easy in Maryland. go to this link: http://www.dat.state.md.us/sdatweb/artorgan.pdf , complete the form and mail in with a $100 check. My wife is a CPA and said that LLC is the way to go.

EIN is also a good idea, especially if you want to open a bank account and its FREE to do. You can register for that on line at: Apply for an Employer Identification Number (EIN) Online | Internal Revenue Service

If you google it, be careful you are on the IRS website. I accidentally got on a website that I thought was an official IRS website and almost paid $149 as a “fee”.