I'm becoming a real estate agent, should I set up an LLC for tax purposes?
It wont help generally for tax purposes as you will be a single member LLC and a disregarded entity, meaning you will be paying it as an addendum to your personal tax return. I am not saying this as an Attorney (I am not, I have passed the bar, but have been avoiding getting admitted), but as someone who set up an LLC for my independent contractor status at my current job and i can tell you THE reason to do it is not for tax benefits, but for liability protection. It will take you two hours and $300 max and it will prevent anyone who decides to sue you for "misleading them" or whatever from being able to take your personal assets. in conjunction with the LLC, I set up a corporate banking account (had to get an EIN to do so) so they couldn't "Pierce the Veil" (you should consult an attorney on all this, especially if you have questions on piercing the veil). I cant say what I did was the right way of doing things, but as someone who has done something similar, hopefully you can take my story as a guidepost when speaking with a professional to help you with all this (you can technically do this all without an attorney, but I am required by conscience and the ABA to suggest you consult one).
How long does it take to incorporate and get an EIN?
It takes 3 to 6 weeks to make your incorporation formal. Typically, to incorporate, you need to file an Articles of Organization (if you’re forming an LLC) or Articles of Incorporation (if you’re forming a Corporation). You need to file respective forms and mail them to your state’s Secretary of State. You will hear back within 3 to 6 weeks with the official notice of your incorporation.It will take 15 minutes to apply for an EIN. You can apply for an EIN online here: Apply for an Employer Identification Number (EIN) Online I'm a business lawyer who helps entrepreneurs and businessowners with their new and existing businesses. If you have any questions about your business, feel free to contact me at sam@mollaeilaw.com and I will be more than happy to assist you. Mollaei Law: Proactive Business Lawyer for Businesses & Entrepreneurs
Do I need to register my LLC in every state?
If you are selling your products online and shipping them across the US, you do not need to register in every state. This is for most typical e-tailing type of situations. The main reason you register in another state is because you open up an office or operation there. You can double-check with the DMA (direct marketing association) as their members do only mail order (catalog and online), plus you may want to join them for the benefits they offer (and know-how).
Can I register an LLC company with the UPS mailbox address only?
Your idea is a good one, but has a lot of repercussions later on if you are ever sued or need to be served legal papers.If you are working from home, which I am assuming you are use your home address as your physical place of business. You don't have to worry about customers finding your home address.What you want to do is use the P.O. Box as your mailing address and your home address as the actual place of business. So all forms including your LLC paperwork, you will have your physical address listed and then have your mailing address listed. But on all marketing materials you can just have your mailing address listed.This simplify things greatly especially when you go to register your business online with places like Bing Local and Google. They want a physical address that they can verify. Secondly, when dealing with banks and other financial institutions they want a physical address as well.Think about all those “As Seen on TV” type commercials. Every last one of them has a P.O. Box for you to send the order to.If you are worried about trying get mail at your P.O. Box but the company says they don’t deliver to there, there is a little trick that the Post Office allows it customers to do. Use the actual address of the Post Office and then put your P.O. Box number as your Unit number.So instead of it being: Pocket Full of Sunshine P.O. Box 123 Anytown US, it would be Pockets Full of Sunshine 123 Any Street Name Unit 123, Anytown US.Both FedEx and UPS will deliver to your P.O.Box with no problems at all.Hope this helps. If you have any questions feel free to ask.