Ep4 - Business Money 101: LLCs and EINs
10/11/22 - Business Money 101: LLCs and EINs
No, friends, it’s not a recipe for alphabet soup - it’s all about setting a firm foundation for your business.
In this episode, I discuss:
The difference between a sole proprietorship and an LLC
How they differ in terms of your personal asset protection
How they affect your bottom line tax-wise
When to set up an LLC, and how (it’s not as hard as you’d think!)
The answer to the question: do I need a lawyer to do this?
Finding your State’s Secretary of State (and walk you through a sample set-up)
How to set up an EIN or FEIN (and do I really need one of those?)
And, finally, your “homework” - Google “register for an LLC in (your State here)” and find the application (really, it’s that simple - just find the application!)
But that’s a lot of information for you, so let’s get started!
Resource mentioned in this episode: Federal Gov’t EIN application
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