Thanks for the well wishes everyone. And thank you Dellinger for answering those questions.. I will piggy back on what you said:
<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">Why did you find it important to file an LLC?
Liability reasons (since I work from home in a detached shop, my 'worth' can be easily discerned or approximated.) I wanted to ensure that my business assets and personal assets were separated in the event of any kind of lawsuit. <u>
Also for insurance purposes.</u>
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<p style="background-color:rgb(247,247,247);"><span style="font-size:12px;">Why did you place this before insurance?
<span style="font-size:12px;">Due to accounting purposes... insurance is classified as a business operating expense. Thus, I filed first, insurance second. <span style="font-size:12px;"><u>This as well as insurance can now be filed under the business name instead of myself, further separating my personal life and business</u>.
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<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">How difficult was it for you to file?
Not hard to file... confusing to understand some language in the application. Every state/ city/ county can be different so everyone's experience is not necessarily the same. A CPA can be of help in the process. <u>In WV it was very easy. I filed through the wv4business website which was very clear and easy to understand.</u>
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<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">How expensive was it to file?
Initial filing wasn't too bad... like $200 for me. Don't forget about a business license. Some cities and counties require one as does the secretary of state of your state. Since I don't live in an incorporated area, the state business license was all I needed and was $50, IIRC. <u>My total, in WV, was $131.</u>
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<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">Did you choose your own state to file at?
Yes. <u>Yes</u>
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<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">(I looked through your website to find what state that you work, and it wasn't readily apparent)
<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">Did you look into filing LLC through another state for added benefits?
Can't answer that question. Interesting question though. <u>No, I refuse to be a business entity in Maryalnd and did not file there. Plus I like the idea of bringing small businesses back to my home area. </u>
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<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">What have you learned about the LLC procedure and why it is important.
I'm unsure of the nature of your question. If you are wondering about legal structure and general tax information... my CPA said basically this...'When you start making more than 60K a year, we'll consider an S-corp." Again, separation of business and personal assets. <u>For a small, home run business, everything I read and talked to led me to believe and learn that an LLC gives you the most freedom while still protecting yourself. It is also one of the easiest and simplest business types to file as.</u>
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<p style="color:rgb(40,40,40);font-family:'helvetica neue', helvetica, arial, sans-serif;font-size:12px;background-color:rgb(247,247,247);">Anything that you can share will help to guide others through growth of their business.
I lack growth so... I don't have the platform to help others at the moment but I will be sure to do just that when I have some wisdom that is relevant. <u>Don't try to do to much at one time. Pick an area and focus on it... as time goes by, you will naturally start exploring other techniques and business ideas. I started small just doing wash and waxes and from there got into polish and paint correction. Last year I attempted my first RV and boat... Natural progression will lead you down a path.</u>
