[wild-b]

Do any of you have an LLC and if so how and where did you get it and what was the cost. Anybody ever use Legal zoom or US legal forms. I know it's off topic, but not sure where to put it that I will get an answer.
Thanks
Mike

 

[Rusty Hills Farm]

Go to the website for your Secretary of State. They will have the information and the forms that you will need. That's how I incorporated my farm.

HTH

Rusty

 

[sqkcrk]

Do any of you have an LLC and if so how and where did you get it and what was the cost. Anybody ever use Legal zoom or US legal forms. I know it's off topic, but not sure where to put it that I will get an answer.
Thanks
Mike

Is your exposure great enough to warrant the hassle(s) of setting up and maintaining an LLC? Talk to an Accountant, one familiar w/ what you do? A CPA perhaps. I asked my accountant this just yesterday and she advised not to bother.

 

[wild-b]

I would like to make this a part time business where I'm able to use for tax purposes. Mileage, hives ect.
Thanks

 

[Tenbears]

You need not have a LLC to run it as a business, you can run it as a sole proprietorship. and claim your expenses. As a sole proprietorship you can offset loses with your personal income tax thus reducing your tax liability from your full time Job. You cannot do that with a corporation.

 

[sqkcrk]

I would like to make this a part time business where I'm able to use for tax purposes. Mileage, hives ect.
Thanks

All you have to do is register as a business at your County Court House, maybe fill out a DBA Form (Doing Business As: wild-b hunny) and then keep track of everything you want to declare as income and everything you want to claim as expenses on Federal Form Schedule F "Profit or Loss from Farming". Again, talk to your accountant just so you are clear about what you need to do in the State of Nebraska.

 

[wild-b]

Thanks a lot you guys for the info, that's what I like about this forum. Everyone willing to share info with others.
Again Thanks
Mike

 

[Beeonefarms]

Check your state.. requirements if you are going to sell any products. ( wax, pollen , honey , propollis,candles, soap, etc) Starting a LLC.. Is a smart business move that can save you a dime or two the future..

Getting all the permits and registering it .. 50 buck on the cheap end to start in your area...EIN number .. state tax...

 

[marant]

As a retired lawyer my advice was often to not bother with an LLC or corporation. They are only valuable to limit one's liability in the event of a problem, and most people just continue to operate the same way they did before incorporating. If they do this it is a simple matter to "pierce the corporate veil" if there is a problem and avoid the limited liability. The idea is if you do not behave like a corporation others do not have to recognize it either.

If you really want to limit your liability either research how to properly conduct your business within the corporate pattern (annual meetings, board of directors, annual reports, etc.) or, in most cases, just purchase sufficient insurance. The insurance may cost less than the annual fees- state, accounting and legal.