How To Setup an LLC For Free Step by Step Guide 2023 Now, having started multiple businesses in the past couple years, I’ve got to see a lot of things. And the biggest thing is people not knowing how to set up an LLC the right way. And what hurts me even more is seeing people pay hundreds of dollars to set it up when they can legit do it themselves for free. And it only takes like five to ten minutes. So in today’s article, I’m going to walk you guys through step by step on how to create or open an LLC.
Starting your own business is a big undertaking, but with the right guidance you can make the process easier. This article will provide you with a step-by-step guide on how to set up an LLC for free in 2023. We’ll cover all the basics of forming an LLC, from choosing a legal structure to understanding taxes and filing paperwork. So if you’ve been thinking about taking the plunge and starting your own business, read on and get started!
Starting a business can be both an exciting and intimidating prospect. With the right guidance and resources, however, anyone can become a successful business owner. In this article, we’ll discuss how to set up an LLC for free in 2023—a step-by-step guide on how to form your own limited liability company. From understanding what an LLC is to filing your paperwork properly with the state, this guide will walk you through every step of the process.
Setting up a limited liability company (LLC) can be a complex process, but it doesn’t have to be. In this guide, we will provide you with a step-by-step walkthrough on how to set up an LLC for free in the year 2023. We’ll cover everything from researching the best entity to use and filing the paperwork with the state or federal government to registering your business name and creating a business plan. With our help, you can start your own small business in no time at all!
How To Setup an LLC For Free Step by Step Guide 2023
Starting a business can be an intimidating process, especially if you’re not sure of the steps involved. Fortunately, setting up an LLC doesn’t have to cost you a fortune – find out in this article how you can set up an LLC for free in just a few simple steps!
And the best part is it’s completely free. You won’t even have to pay a single penny. It’s probably the fastest and easiest way out there and I haven’t heard anyone talk about it. Now, before I head over to my computer and walk you guys through exactly how to do this, I just want to quickly go over what an LLC means and the benefits and tax advantages of having one. Now, if you guys already know of the reasons or you just don’t care too much about it and you just want to see the walkthrough, you guys can skip to the time frame that’s shown right over here.
So what does an LLC LLC stands for? It stands for a limited liability Corporation. Now that’s just a big fancy word for saying protection. All you’re doing is creating a separate entity for your business. Now you might be asking, why do I need to create a separate entity?
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Why can’t I just start a business and go from there? Well, let’s say you start a business just regularly under your personal name. Everything could be going well, and then one day you could get hit with a fat lawsuit in the mail. Now, because you use your personal name on the business, that means all the assets that you own are liable. So your home, your car, or anything else you own is up for gribes in the lawsuit.
How To Setup an LLC For Free Step by Step Guide 2023 Whereas if you had an LLC, if someone were to come sue you, they can’t come after your home or your cars. They can only sue and come after what the business owns. Hence the name limited liability. It’s only limited to what the business owns. So since your business most likely doesn’t own your home, you won’t have to worry about sleeping on the streets.
How To Setup an LLC For Free Step by Step Guide 2023 And not only do you get the protection, but you get a bunch of tax advantages that come with having an LLC as well. So you can keep more money in your pocket rather than giving it to the IRS. See, with an LLC, you’re allowed to reduce your taxable income and write off business expenses. So let’s say you have a business and it’s an LLC, and the business makes $30,000. And let’s say you had to spend 10,000 on various expenses such as employees, material, internet, office, you can deduct those expenses, which would bring down your total taxable income.
Now, I’m not going to go too in depth into this because it can get pretty technical. And I’m no expert on this stuff. But there are a ton of Website article you guys can watch on different write offs, loopholes and all that fun stuff if you guys are interested. But you guys are here to see how you can set up an LLC. So let’s get into it.
Also, before we get into it, if you guys want to follow along, which I highly recommend, I put put the link to this exact page down in the description box below. Just make sure to use that because there are plenty of sketchy websites out there trying to take advantage of your personal information. So if you guys are doing this, just use the link down below and follow along. All right. Once you click the link, you’ll be brought to this page over here.
StartMyLLC: How to Start an LLC for $0 (2023 Guide)
Now this is going to be done through Ink Authority. Now I’ve used them for almost two years now and I use them for so many different businesses. And each one of them I’ve had no problems whatsoever. But basically, as you can see over here, 100% free online LLC registration. And just to show you guys like, I’m not making this up, they have over 16,000 reviews of 4.8 Star and Trust Pilot.
And all the reviews are amazing and it’s one of the main reasons why I love using them. But if we go back over here with this registration service, you’re going to get a 24 hours order processing. It’s going to be free and you get seven day support, but it’s basically 24/7 support. You also get one year registered Agent it which I’ll get into later in this article, but it just goes over to different pricing. It’s 100% free, but this is basically what’s included when you sign up for your LLC.
Okay, let’s get into it. So the first thing you’re going to need to do is head over to the top and type in your LLC name. So for my LLC name, I’m just going to do best accounting services. Now you guys can choose whatever name you guys want. Just make sure you do some research because this is once you signed set this up, you can’t change this anymore.
But once you choose your LLC name, you’re just going to go over here and click check availability. Also real quick, as I did mention, it is 100% free. You do have to pay your state fees. Now that’s something you cannot get out of. Each state requires a state fee in a variety state to state.
But as we get on through the process of the LLC, you can see what your state fee is or you can just open up another Google tab and see what your state fee is over here. But technically even the state fee is free. But I’ll get into to that later in the article. Now once we’re on the next page, we’ll say over here congratulations, your name is available. Best accounting services.
Now moving along, we’re going to choose the type of business we want. Now if you guys are confused or shown to choose, they have a box over here that tells you the difference between an LLC and a corporation. Now majority of you guys assume if you’re watching this, are going to stick with an LLC. But if you guys want to file as a corporation or as a corporation, you have the ability as well and then select your state. I’m in Illinois, so you’re just going to choose the state that you’re registering this business in and then you’re going to hit Save and continue.
How To Setup an LLC For Free Step by Step Guide 2023 Next up, it’s going to ask for the business owner’s information. So if you are the business owner, you’re just going to plug in your first name, last name, your email address, and your phone number. Now once you have the information filled out, you can either add a co owner or a partner. Now it’s up to the business if you guys have one. Most people don’t.
So you can just say I agree and hit save and continue. Now they’re going to hit you with a couple of questions. I think they’re going to have like six, seven questions just asking more information about your business and the type of business. So over here is Best Accounting Services, your first business? I assume a lot of people.
This is going to be your first business. So you can just hit yes over here. Next up, if you have an IRA or 401K over $30,000, we learn how to access the money for it. I assume a lot of you guys don’t want to touch your 401K money for the business. So you can just hit no to this and hit save and continue.
One. Will Best Accounting Services be open for business? Now this is ultimately this doesn’t really make a difference. You can say I’m already open for business if you guys already are, or you could do 30 days. I’m just going to say I’m already open for business.
Next up, they’re going to ask you for the type of business. Now for me, obviously it’s going to be accounting and tax services. Now for you guys to have a whole list of other options or you can just hit other. If your business isn’t necessarily on here now it’s asking is your business going to hire employees in the first twelve months? You can either hit yes or no.
Chances are you probably won’t. So I’m just going to hit no. Now next up is asking if we’ll be accepting credit card payments. Now this ultimately depends on your business. If you’re selling stuff online or if you have a brick and mortar store.
How To Start An LLC in 2023: Free Guide
Again, this doesn’t make that much of a difference. You don’t need to know the answer to this right now, but for me, I’m just going to hit no and then hit save and continue. All right. Now it’s going to ask for your businesses details. It’s just going to have your LLC name back over here.
So this is how it’s going to look like best Accounting Services, LLC. You have one last chance to change it up. Please just grab your business in one sentence. So you’re just going to talk about or briefly mention what your business about. So for me, I would just say I provide accounting services for my clients.
It doesn’t have to be super specific, just a brief explanation of what your business does. Next is just going to ask if you want text message updates on the phone number you provided. I usually just say yes because it doesn’t hurt to get more information earlier with your phone number. So after that, you’re just going to hit save and continue. All right, next up is going to ask for the businesses address.
Now if you already have a location like an office or a brick and mortar store, you can put that address in over here. Now if you guys don’t and you’re starting this up at home, you can just put in your home address over here. So for me, I’m just going to put in my home address. Once you fill out your address information, you can just scroll down over here. And if your shipping address is different, you can add in a different shipping address.
Usually it’ll be the same. So you can just hit save and continue. Now I was just asking if you would like to create an account or continue as a guest. Now I would suggest you guys to create an account. That way everything is saved on your one account.
How To Setup an LLC For Free Step by Step Guide 2023 For me, I’m just going to do this as a guest because of example purposes. But for you guys, if you guys are doing this, I recommend getting an account. That way all your information is in your account dashboard. All right. Now we’re on the registered agent service page.
Now this is a free service. Ink Authority provides is one year free and it’s actually a really cool service. But basically it serves as an official address for your business. So any important legal documents or anything or any spam mail or anything, it goes straight to them. In this case Ink Authority and they handle everything for you.
So basically this just protects your home address or wherever your business is. So this is basically like a virtual address where people won’t really know your physical address. So it’s a cool service. It’s free. You can always just cancel within the one year.
I don’t know how much it costs after, but you can just cancel. But we’ll just hit add to order and hit next. Now we need our Ein number for our business. Now you can think of this as a Social Security number for your business. It’s a very important piece of number that you need because it helps when it comes to filing you for your taxes.
You need it when you open a business, bank account, credit cards, anything you need. You need this Ein number. So you have two options. You can either have Ink Authority generate one for you for $49 if you guys want to just let them handle everything, or there is a free alternative. I’ll show you towards of the article.
It’s up to you guys. If you guys want the headache free, you can go this route. Or if you guys want to do it for free, you can do that as well. So for now, I’m just going to hit no thanks. Next it’s going to ask if you want an operating agreement.
Now this is something you don’t really necessarily need. I know it mentions over here that requires it to all banks, but if you have an Ein number, you’re pretty much good. If you want more information, they have a articleover here telling you exactly what operating agreement is. If you guys want it, you guys can add to your order. If not, you can just go over here and hit Next.
Now this is the really cool part. It’s 24 hours processing. So basically within 24 hours they’ll process your LLC, which is insane. So for me over here, Illinois Standard Time is ten days and they’re doing it in 24 hours. And the best part is it’s completely free, which is crazy.
So we don’t have to do anything about this. We just hit add to order for free and hit Next. Next you have the option for them to help you with an online business presence. Now this is ultimately up to you, but basically it’s just like an online thing. If you want help from them, you get one year of domain and website registration free.
You get free business email and you get access to their premium website creator. If this is something you guys are interested and you guys can do it for $10, but premium, I’m just going to hit no thanks. Next is going to ask if you want the Ink Success Advisor. Now this is mainly for those of you that are really new to business and you just want a lot more information about how everything works. You get access to all these things, unlimited phone and email support, protect yourself, payroll, banking, everything.
If you guys want that, it’s $197. It’s not for everyone, but for those of you that want a lot more information, you guys can get that. But for now I’m just hitting no thanks and that’s pretty much it. You’re on the final step. Before you confirm your order, you have the free option.
Conclusions
Setting up an LLC is a great way to protect your personal assets and keep your business operations separate from other aspects of life. With our guide, you now have the information you need to create a free LLC in 2021 that can maximize your legal protection while minimizing any potential risks or liabilities. As long as you follow all of the steps outlined in this guide, setting up an LLC should be relatively simple and straightforward. Good luck!
