If you have your own business, or are thinking about any type of business incorporation, it’s wise to put the proper structure in place that will give both you and your business the protection you deserve, including asset protection. Limited Liability Company (LLC) formation is one of the most popular forms of business structures used today. One misconception about forming an LLC is that it is an expensive and cumbersome process. Surprisingly, it’s not terribly expensive, and it doesn’t take too long to complete—if you know what you’re doing. Sure, you can try doing it yourself. All the necessary forms are available on-line and the only fee associated with forming an LLC is the mandatory Secretary of State filing fee. However, if you don’t know what you’re doing or if you’re too busy running your business, getting new clients, growing your client base, and keeping your employees happy, then let Your Entity Solution help you create the proper business structure for you. As with any important legal action, you should always consult with an attorney or an expert in the field to ensure you are complying with the law. At Your Entity Solution, we create a comprehensive plan for each client that maps out where their business is today and where they want it to go in the future. Our structural coaching is invaluable, especially for busy entrepreneurs. Our staff, which includes experts in legal documentation, tax planning and strategies, and coaching enable you to create the proper LLC formation for you and your business. From deciding which business incorporation is right for you, to the proper formation of LLC, tax preparedness, asset protection, filing all the necessary forms and paperwork, business coaching, on-going education, support services, and specifics related to Florida LLC formation and Delaware LLC formation, Your Entity Solution is with you every step of the way. There are only a few simple steps required for LLC formation: 1. File articles of organization with the Secretary of State in the state you choose to incorporate. (You do not have to incorporate in your home state.) Some states require you to file for a Certificate of Organization. Your articles of organization serve as a guide to run your business. You must provide the Secretary of State with the name of your business and the address from which you operate it; the names and addresses of all members and of the registered agent. 2. Appy for an Employer ID # (EIN) by filing an SS-4 Application via the IRS web site. Like an individual’s social security number, an Employer ID # is a unique number that identifies your company for tax purposes. 3. Create an operating agreement. This important document will help you avoid costly financial and management misunderstandings because it outlines the protocol for specific situations, such as: employee roles and responsibilities, percentage of the company each person owns, a succession plan in the event a member or partner wants to sell his or her stake in the company, leaves the company, or dies, voting powers for each member, decision making protocols, and rules for meetings and votes. 4. Open a business bank account. While creating a bank account exclusively for your business is not required, it’s highly recommended. Keeping your personal and business accounts separate is just a smart decision for many reasons. Take the first step toward a more stable, reliable and safe business structure. Call Your Entity Solution today.