What are the 7 common mistakes people make with their LLCs? With our expert and co-founding partner, Toby Mathis, Esq., we will review several issues that arise when investors choose this particular route.

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“By setting it up incorrectly they undo a lot of these things that they are intending simply because they make pretty basic mistakes.” 0:22

You may be surprised by our list of these common mistakes that too many people find themselves making.

LLCs, or Limited Liability Companies, are popular entities, but if approached incorrectly, they can result in many pitfalls and complications.

The dangers that come with pursuing investing are many but hopefully, by watching this video, you will be able to avoid the most common mishaps that many people make when they get started.

Watch our video until the end and you will see a link to our website where you can learn more about LLCs! We have tons of information on how to start an LLC and the benefits associated with this type of entity.

Like, comment, and subscribe to the channel to learn more about how to start an LLC and other business topics.

Show Notes:
0:00 Intro
0:56 #1 Wrong Income In Wrong Entity
5:13 #2 Set it up Too Late
7:26 #3 No EIN
8:24 #4 Separate Business
10:35 #5 Books and Records
13:53 #6 Personal Expenses
15:30 #7 Tax Form
21:15 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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