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Overlooked LLC Issue No. 10

start an llc

“The 10 Overlooked LLC Issues People Often Screw UP!”

Issue No. 10

Don’t get discouraged.  With an easy to use system, the set up of your LLC only takes a couple of hours.  That’s not the 10 minutes some internet sites promise, but this is important stuff.

Did you know your LLC has “stock” just like a corporation?  Did you know your LLC may not protect you, if you haven’t issued stock?

But, you can’t issue stock to some classes of individuals under certain circumstances.  If you issue it to the wrong people or entities, your LLC isn’t going to do what you want it to do for you.

If you’re like me, you want everything in a nice neat package.  The lawyers never take care of all of the fine points.  The internet web sites just took your money and spit out some papers.  The bottom line is you’re only halfway to getting a top drawer LLC.

To get the full LLC  asset protection and tax benefits, there are a lot of things that have to be done.  Let’s at least get you through the next two.  When you get the LLC Wizard, you can go all the way in a breeze.

The 10th Issue in our “The 10 Overlooked LLC Issues People Screw UP!” Series is the stock stuff.

Actually, it’s not stock in an LLC, its “membership interests.”

Get some membership interest certificates. (The computer disk in the LLC Wizard generates several styles for you.)

Fill out the interest certificates and distribute them to the members.  You may be the only member, but make out a certificate and give it to yourself.

You’ll need a membership certificate ledger to record all of the certificates on.  This is important for the company to keep track of all the certificates.

If you have already issued a certificate in your name, redo it in the name of your trust.  Remember you LLC is a probatable asset.

Watch out who gets the certificates, because if you have elected to be taxed as a Subchapter S corporation, you’ve got to follow the Subchapter S rules in the IRS Code.  There are about 20 minutes of CD instructions in the LLC Wizard on getting the membership interests right.

Nothing about the establishment of an LLC is hard.  In fact, it’s easy.  You can do it for yourself in any state.  It really does only take minutes.  Many states let you file instantly online.

The care and feeding of your LLC is also easy.  With a good system all of the fine points will take you about 5 – 10 minutes a month.  That’s not bad to insure you get the asset protection and other benefits you want.

The LLC is amazingly flexible and the benefits are huge.  Did you know that an LLC can be owned by your IRA, and all of the profit generated in your LLC can be paid to your IRA?

I’ve written an eBook on the marriage of an LLC and an IRA.  (They produce beautiful children.)  I’ll give you the eBook for free when you get either the LLC Wizard or the How to Double Your Asset Protection eBook offered below.  It’s your bonus for finishing the “The 10 Overlooked LLC Issues People Screw UP!” Series.

This isn’t an automatic add on, so when you get your How to Double Your Asset Protection eBook or LLC Wizard Course, email us at, and we get you a link where you can download the IRA bonus eBook.

When you get the LLC Wizard, you become one of my students, and I’ll keep sending you updates on the tricks and traps of an LLC.  Remember, you can do it.  You can do it all, and it’s easy when I guide you along.

This is the information I’ve learned in 30 years of experience as a lawyer.  It’s what I didn’t learn in law school.  You won’t learn it in law school either, and it’s not in the form books or on the net.

You can pay your lawyer $500 – $1,500 a year to do it for you, or you can do it yourself with the LLC Wizard Course in the amount of time it will take to argue about your attorney’s bill each year.

I’ll clear as many obstacles as I can out of your way.  I’ll help you any way I can. Get twice the asset protection and a ton more money.

I hope you’ve enjoyed reading about these 10 Overlooked Issues.

You Can Get Double the Asset Protection

I’m seeing more people lose their business these days, because they get in trouble personally, than I am seeing people losing their personal assets because their business gets into trouble.

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We hope you have enjoyed this series of

10 Overlooked Issues people screw up.

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