Let’s explore multi-member LLCs and why they might not be the best fit for everyone.

✅ Pros:
1️⃣ Added legal liability protection.
2️⃣ Multiple owners can collaborate and invest.

❌ Cons:
1️⃣ Requires detailed annual filing (Form 1065).
2️⃣ Complex accounting for related party transactions (Form 1065).
3️⃣ More extensive documentation.

If you're flying solo and not keen on detailed accounting, a single-member LLC might be a simpler choice. However, multi-member LLCs can be beneficial when working with partners and seeking added protection. The decision ultimately depends on your specific needs.

Would you like to learn our 3 step strategy for owning and operating a US Company? Do you want to grow your business and pay no taxes without spending hours and hours learning how everything works on youtube?
You can schedule a FREE discovery call with our team with the link below.
https://www.jamesbakercpa.com/schedule

We are hosting weekly Ask Me Anything sessions, you could for limited time access to them free of charge, if you want to expand your business and network, and have access to our Telegram and Discord Server, join us here:

https://lt.jamesbakercpa.com/BBHO

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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.

-----Longer videos that explain it all!
How to Legally Pay NO US Taxes - https://www.youtube.com/watch?v=XbwVGJdeXzo
How to Legally Pay NO US Taxes (part 2) - https://www.youtube.com/watch?v=Z3hrWCyC6Xo

-----Guides and How tos
Annual reporting for a foreign owned multi member LLC (Masterguide) - https://www.youtube.com/watch?v=j2lAgZ3nrgQ

What is Form W-BEN and why do I need it https://www.youtube.com/watch?v=KiuDb-IqfLM

Which payments from US Companies are subject to withholding? https://www.youtube.com/watch?v=aVV80um2EJU&t=6s

How to complete Form W-8BEN - https://www.youtube.com/watch?v=JXaD-w42CAM

How to complete Form W-8BEN-E - https://www.youtube.com/watch?v=_6Lqr4srKto&t=0s

How to get an ITIN - https://www.youtube.com/watch?v=skmtfumWq3g

-----And don’t forget to check out all of the “CALLS WITH JIM”
https://www.youtube.com/playlist?list=PLy9mc3SujIpbWfE5CZhEYH-zLRyV-are0
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
Click here - https://www.jamesbakercpa.com/offers/eFBz5dnj/checkout

Already have an LLC? Did you already complete form 5472 for your company? Did you know there is a $25,000 penalty for not doing this form? I’ve made a short training that explains exactly what you need to do and why so you can get this done quickly and correctly, the first time around.
Click here - https://www.jamesbakercpa.com/offers/fTokTPsb/checkout
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -

What are sales taxes? https://www.youtube.com/watch?v=-IPTFf225-8

What is a resale Certificate and Why do you Need it - https://www.youtube.com/watch?v=LWoFc4dkcAk

How to get a Florida Resale Certificate, Part 1 - https://www.youtube.com/watch?v=-YhDXdAuBB8

How to get a Florida Resale Certificate, Part 2 - https://www.youtube.com/watch?v=rf1eHKlgJLk

How to file a DR-15 Florida Sales and Use Tax with 0 Sales - https://www.youtube.com/watch?v=D1j49ssw1Jc
I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. https://taxjar.grsm.io/jamesbaker7628

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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.

Видео Let’s explore multi-member LLCs and why they might not be the best fit for everyone. канала James Baker CPA