Sign South Carolina Travel Agency Agreement Fast

Document type sign travel agency agreement south carolina fast

in today's video we were talking about how to start an llc in south carolina [Music] my name is eric and in this video i'm going to walk you through three different ways that you can set up an llc but more importantly than that we're going to be talking about terms and things you must know as far as creating a legit llc and these terms are things such as piercing the corporate fail registered agents and co-mingling funds now if you're not sure what those terms are i'll be explaining them throughout this video and it's really important to stay on through the end of the video because all these things are going to make sure that you have a legit llc that is doing what you want it to do for your business so why don't we get started with a google search here so if you go to south carolina llc the first thing that's going to show up is the state website now they do have the downloadable paper forms but they're kind of pushing people to file online and that's usually the best way to go this is a good time to mention that any links or resources mentioned in this video will be in the description below most of those are free resources if it is an affiliate link i will mark it as a paid link but i appreciate you using my links because it helps support my youtube channel so let's get back to the review so what you do is you click this link and then the next thing you'd have to do is actually sign up for an account i have already done that and what i'm going to do is quickly walk you through the steps of this service and this is the first way that i would suggest is going through the state website the advantages of it is that there tends to be uh the lowest possible price for getting set up but sometimes there's some hidden fees that you may not be considering and we're gonna be talking about that as well um a disadvantage too though is sometimes it's a little clunkier going through a state website this one is not too bad to be honest but the first thing you're gonna need to do is search for your business name now charleston if i think it's the river dogs is that the uh the aaa team i think it's called if you were to search for things that are already established um you can see dissolved good standing river dog shop but this would be an example like if you wanted to be the river dog shop you don't want that name because it's already taken but if you put in something crazy and you just go like this and you do a search what it's going to say is that there are no results found so this name is available so that's the first step is finding a name that is unique in the state of south carolina that is going to work for your business so then once you're actually set up and you log in uh you would log in through the uh button up here so once you create an account which you can do in the upper right hand corner so what you're going to do is click on start a new business filing and then you'd have your name whatever used before add new entity type and then what we're going to do at this point is you're going to select a limited liability company and then start filing articles of organization and i've already filled out some of the information here and one of the things that i do want to do is i want to walk you through some of the details here so so this one's really important and it's talking about your agent's name and you may not be familiar with this the term registered agent that we mentioned at the beginning of this video and it's really important to have a solid registered agent for your llc because it's going to make sure that your llc is legit so to better understand registered agents i think it's good to take a step back and explain llc's really quickly so then we can work from there when you have an llc it's not for tax advantages or anything like that it's strictly for limiting your liability when you set up an llc the reason you're doing it is you have your business assets so you know you have your office and different things you're starting to accrue in your business but then you also have your personal assets so personal assets can be things like your personal home personal car personal bank accounts what the llc does is it draws a division between these two assets and that division is known as the corporate veil now what that does is if you were to be sued by somebody what that attorney is going to do is they're going to try to come after your business assets but if they can do what's called piercing the corporate veil basically finding a crack in your llc they'll be able to come after your personal assets as well so that's what piercing the corporate bill means that's a term it's kind of legal jargon is when they come after your personal assets as well because they found a crack in your llc so this is a nice article from inkfile on registered agents if you're not familiar with inkfile it is a online legal tool that helps you set up llcs but in this particular article they kind of cover what a registered agent is basically it's a third party that's going to forward you important mail make sure that you're dotting your eyes crossing your t's and staying up to date with your llc these five sections right here explain in better detail official letters and correspondence from your secretary of state uh service of process notices so if you were to be sued to make sure that you appear in court uh official federal government correspondence information and notifications tax forms and requests for payment and request to complete permits company filings or reports so that is pretty much in a nutshell what a registered agent does for your business the reason i mention this is sometimes you're going through uh some of these tools and it just says what's your agent's name i'm gonna put an llc right there just so that will go away uh but it doesn't tell you exactly what that agent is doing for your business and the mistake people make is they go oh i think the person has to be in my state so i'll just get my buddy down the street to do this for me and he's gonna be my registered agent well if that person isn't doing all the proper things that are listed here for your business there's a good chance that they're actually creating a crack and they're making it so that if you were to be sued that the attorney suing you can pierce the corporate bill and come after not only your business assets but your personal assets as well so that is why a registered agent is so important to your business so what i recommend for a lot of people is this service inc file and the reason for that is they have been around since 2004 they have launched 500 000 businesses but if you scroll down here it says business formation for as little as zero dollars plus state fee so you might be wondering like how do they charge zero dollars and then just the state fee so i'm going to cover that right now if you're to go through this tool you'd select llc your state of formation so you're at south carolina and then it's going to give you three packages in the silver package the package fee is zero dollars and their state fee is 150. so that is what is charged for a new business entity the amount is passed through and goes 100 to the secretary of state in file does not keep any part of this fee now if you do go through the state website i believe it starts at 110 and then there's a 25 fee if you want to start with your annual reports so it is slightly cheaper going through the state website but the problem with that is that you're still going to have to pay for registered agent service as well now if you look at what this includes is the preparing and filing of the articles of organization unlimited name searches and also free registered agent service for a year so your first year is going to be completely free so it'll actually come out cheaper for you to go with this package than it would be to go through the state now do mention though that is free for the first year if we go back to this article and we kind of scroll down a little bit what you'll see is down here it says that it is free registered agent service and then it's just 119 annually after that so that is how ink files making their money is they have that service that they charge for after that the other way that they may be making their money is if you're registering and you decide to upgrade into gold or platinum that's where you can see the package fee starts to kick in 149 and 299 the state fee is still the same and again they do not keep any money of that state fee it's going right to the state so a couple other things i want to mention are in the gold package right here if you take a look at this this is the ein business tax number i can tell you that from setting up my own llc which is an absolute pain in the butt with the ein business tax number i did that myself what i did is go through this resource here and as i mentioned at the beginning of this video all links resources are in the description below uh this is gonna walk you through if you need an ein and how to apply uh so if you wanna do that yourself and save some money you can go with something like the silver package or go through the state website and then use this resource here to set it up for yourself now the other thing to consider on here that i like to point out is the business banking account now if you recall we also talked about co-mingling funds at the beginning of this video what that means is if you right now you have a personal bank account and you start running your business uh finances so expenses incomes and stuff through that personal bank account you're co-mingling funds and what that is is another crack in your llc if you were sued an attorney might come after you and say you know what this is not a legit llc because you're co-mingling funds so that attorney will be able to pierce the corporate fail and then come after not only your business assets or your personal assets so i hope you kind of understand why i mentioned those things early on in the video because it's so important to understand these things to make sure you have a legit llc so with this they will set it up through currently at bank of america you can always do this by yourself too but it's just kind of nice that they just include all this in this package so the last thing i want to talk about is hiring an attorney to set up your llc now reasons to do this uh if you have a business that has a higher potential for liability so a roofing contractor per se like if somebody's falling off a roof high liability some businesses just inherently carry more liability than others uh other reasons are if you're doing business in state and out of state right that gets a little bit more complex and you might be getting into domestic and foreign llcs or if your business is generating a really good income already and you've already been in business for a while and there's things you want to talk about it's suggested to go through with an attorney i myself not an attorney or a cpa i'm just somebody who has done a lot of research setting up his own stuff and i want to give you as much information as possible so you can make an educated decision for yourself so one of the tools that i like for that is a tool called avo so if you go here you can see south carolina limited liability company llc lawyers 33 results now if you want to narrow this down to make your decision a little bit easier who to talk to if you scroll down they have this free consultation button here and what that'll do is it's going to reduce us to eight results so now you can look at eight attorneys with reviews that offer a free 15-minute consultation so that meter's not immediately running as soon as you talk to them and they might be able to sort out a few questions you have just know that like the cost of going through an attorney is going to be somewhere from like 800 to 3 000 to get an llc set up but if you have a complex situation it's worth it to spend that money and go through with an attorney now i will have this link as well in the description below i'm not affiliated with avo in any way right now but i just find it a helpful service and that's why i recommend it in videos so the next thing i want to talk about is in this video right here i have an ink file review but at about the 2 30 mark of that video i talked about s-corps versus llcs and how you might be able to save on taxes even if you're not generating income yet in your business this is good to know in the future you can set up as an llc now and then switch to a designation with an s corp but you want to know how to save on taxes by watching that video alright guys thanks for using my links in the description below and supporting my youtube channel and i'll catch you in the next video