I am starting a small business centered around Yoga workshops. My workshops are research-backed and will target specific audiences (educators, military, elderly, prison population, mental health). I already started my trademark for the name, applied for a DBA, and EIN number. I purchased the domain and G-suite for business and I am working on my website. I hope to launch mid-April.
I would like to know where I can find privacy and disclaimer information for my website? How much is a reasonable amount to pay a lawyer for a legitimate liability form that will cover me well? Can I set up an LLC on my own or do I need attorney guidance? Are LLC taxes paid/filed with personal taxes? Other than google voice, what is a good voice service I can use as to not use my personal cell number? Anything else I need to know?
Any suggestions, advice, or resources would be greatly appreciated. I am a mil-spouse (my husband is active-duty Army). What else do I NEED to start strong? Oh - and ANY networking tips would be greatly apprecaited!
Good Morning Aprile,
Congratulations and welcome to the world of small business entrepreneurship! It's exciting and daunting at the same time. I began a small business back in '17 in order to do some consulting work for a US based technology firm. I began to weigh my options as I wanted to reduce liability on my personal property but not get roped into paying higher corporate taxes. I ended up with an LLC and used Legal Zoom. It was very easy with a well defined step by step procedure. I'm in Florida and was able to do a sole proprietorship, which simply applied earnings to my personal tax liability at my given rate. I never had to get an EID since I was not employing anyone and could use my SSN for the same purpose. For my Web/Email/Etc I went with Wix and have never had a problem.
A lot of it is trial and error, finding out what works best for you. The best thing that you can do though, regardless of how flawless your website is, how amazing your email address is, or how awesome it feels to own your LLC, is to get out and sell yourself. ADVERTISE! If people don't know who you are or what you're doing none of the aforementioned items matter. Join your local chamber of commerce, go to networking events (daily if you can find them), join BNI groups, create your own local MeetUp group.
I hope it helps! Feel free to reach out if you need any other help!
Christopher Elwood, MBA
Nolo Press is a good publisher for you https://store.nolo.com/products/business-suite/business-formation
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Hello Aprile --
There are two items I can address for you:
1) "Can I set up an LLC on my own or do I need attorney guidance?" While there are websites that will help you do it on your own (Legal Zoom, etc), I recommend using an attorney to make sure it gets done correctly within the state your business will reside. They will also advise on annual reporting, etc., which -- if set up correctly -- will generate automatic reminders from the State.
2) "Are LLC taxes paid/filed with personal taxes?" As long as your State allows a sole proprietorship LLC, you should be able to file LLC taxes on a Schedule C within your personal tax return. Again, worth verifying with a tax attorney and/or your accountant. Note, too, the new tax law also allows LLC pass-through's to not be taxes on the first 20% of small business income taxes: again, verify with your accountant.
Hello Aprile. Thank you for posting your question. Have you tried making an appointment with your local base JAG office? They might be able to give you advice or steer you to the right resources. They might even know of free resources available for setting up an LLC. Also, have you checked out V-Wise's free entrepreneurship courses at Syracuse University, https://vwise.vets.syr.edu/? They might be able to help you with your questions as well. Hopefully, this helps.
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