#572 LLC Masterclass: Everything Every Business Owner Should Know!

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 10 April 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Mainstreet Business podcast, host Mat Sorensen kicks off the LLC Masterclass series with the questions every entrepreneur, investor, and side hustler needs answered: Do you actually need an LLC? How do you set one up the right way? What about paying yourself? How many LLCs should you have? And which state should you form it in? With over 20 years of experience and 10,000+ LLCs formed for clients across all 50 states, Mat breaks down the fou...

Transcript

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0:00.0	Welcome everyone to the Main Street Business Podcast.
0:02.0	This is Matt Sorensen, your host for today.
0:04.1	And I'm going over LLCs.
0:06.5	This is the LLC masterclass series.
0:09.2	I'm going to be talking about how do I set up an LLC?
0:12.1	Do I need an LLC?
0:13.3	How do I pay myself from an LLC?
0:15.3	How many LLC do I need?
0:16.9	What states do I need to register my LLC and answering all those questions today for you in the podcast.
0:22.7	Please enjoy.
0:26.0	Do you need an LLC for your business or your real estate investments?
0:29.7	I've been an attorney for 20 plus years, set up for 10,000 LLCs for my clients across the country.
0:34.5	And in today's video, I'm going to break down what you need to know.
0:37.1	All right.
0:37.2	I'm going to go over the four primary reasons you should set up an LLC. Now, you don't have to
0:42.0	have an LLC. I'm not saying everybody needs an LLC. But if one of these four situations occurs
0:47.2	for you, you should have an LLC. The first thing, do you need asset protection? Well, who needs
0:53.6	asset protection? Business owners who needs asset protection?
0:54.8	Business owners, whether it's a main hustle or a side hustle, real estate investors,
0:58.9	you've got tenants, people going to the property.
1:01.2	We need asset protection.
1:02.8	What is asset protection?
	...

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