In New Jersey, tarot psychics are not required to have a license to practice their services, but the New Jersey Division of Consumer Affairs oversees various professions in the state. The answer to whether psychics need a license depends on the specific regulations and laws in each country and state. Tarot and psychic readers businesses need insurance to protect from financial losses after accidents and costs related to their services. Most jurisdictions require psychics to obtain occupational licenses to charge anyone for their services and pay taxes on the income derived from those services.
General and professional liability insurance is a smart choice for professionals like tarot readers, astrologers, or Reiki practitioners. Insurance can cost as little as $16.67 per month, and it is essential to ensure that licensed psychologists meet the requirements set by law and regulations. Tarot readers must have a good deal of knowledge to conduct their business, which requires legal documents such as health licenses and permits.
Tarot and psychic readers business needs general liability insurance, workers’ compensation insurance, and anti-fortune telling laws in Pennsylvania. Pennsylvania’s anti-fortune telling laws created a national stir earlier this month after local law enforcement issued a warning about tarot readings.
In summary, tarot and psychic readers businesses need insurance to protect themselves from financial losses after accidents and costs related to their services. It is crucial to get business insurance for psychics before any trouble starts and to consider the specific risks they face in their profession.
📹 Don’t Form an LLC until You Watch This! (3 reasons you should NOT form an LLC)
Many online entrepreneurs rush out and form an LLC BEFORE they actually need one. Before you do that, watch this video and …
📹 Indian Woman Exposes Why Indian People Don’t Like Black People #shorts #viral #trending #remix
Wanted to tackle this question right here a lot of Indians don’t like black people because if you have a baby with a black eye they …
It depends on the type of business you have. Some companies will take you more seriously if you have an LLC. Also, if you have $$$ in the bank, assets, or simply prefer to protect yourself, get an LLC! It doesn’t cost thousands of dollars to get one…not even 1k (depends on your state) And if your business ends up not working, then you dissolve it after one year. Simple. Also, if you want to protect your privacy, get an LLC through an agent. I would recommend people read “how to use limited liability companies and limited partnerships” by Sutton. It explains everything. Once you start making a profit, you will need a good CPA and lawyer to have a good tax strategy
I am a CPA in California. I have at least a half dozen clients with single member LLCs. A couple of these have several. These LLCs are disregarded entities that file “all zeros” tax returns and pay the minimum state tax, pay me to prepare these, and pay me again to report these on Schedules C on their personal returns and pay self employment tax. Another thing I see that I don’t understand is that several of my clients go out and setup retirement plans with administrators and advisors while in the past the clients didn’t contribute to an IRA. You article is excellent. Keep up the good work.
im a barber and all i do is make my clients happy with their haircut i mean i dont think anyone would sued a barber especially if u provide a good service so i realize that i dont realy need the LLC i rather just file my DBA thank u so much for the honesty and the great message appriciated this is all i need to hear
Dear Mr. Jim Hart, I agree with you that many of us who start online business stores or drop shipping stores don’t need an LLC right away,. However, at my Minnesota secretary of state website, some of us who are starting online business stores are bombarded with requests to sign up for an LLC, EIN tax number, and so on before we start a new online business. How can I handle this issue if I don’t want to start an LLC and apply for an EIN tax number right away?. I look forward to hearing from you.
If you sell: 1.Big ticket items (cars, houses, boats, RVs etc.) 2.Potentially dangerous items that can cause injury or death (firearms, power tools, kayaks etc.) 3.If you perform a service that can go wrong and alter someone’s appearance or damage their health like a beauty salon or a barber shop 4.If you provide a service that can damage private property like a mechanic shop. 5.If you’re selling food to the public These are all reasons to form an LLC.
This is such a great bit of advice! i really appreciate your honesty and genuine offering of helpful advice. I’m just starting to upscale my online selling/trying to go fulltime with it and this is the kind of help I need right now. So thanks and I will be perusal…and subscribin’ and learnin’!! Thank ypu sir!!
I have a DBA and a business bank account. I have been wanting to get an LLC just for business credit purposes. You know use other people I have about 50K of personal credit cards availability. I do e-commerce, but I have to use small credit amount to avoid my Fico taking a hit. I have a DBA and a business bank account. But I want to use LLC for business credit. Doesn’t it make sense to get an LLC for business credit purposes?I want to keep everything separate on my credit. I am in California BTW where we have the $800 “franchise fee”
I understand what he is saying but in the case of a construction company, I’d like to point out you need licenses for the work and you need a business to get the licenses because companies are licensed not individuals. You can legally only take $500 for each job without a license and you definitely need protection on most jobs considering the trade. This comment is pointed towards others researching contractors licenses. *Open to corrections
Hi Jim! Fantastic article, I’ve watched quite a few of yours today. Do you think my car review YouTube website should have an LLC? It earns a decent amount as a part time job, and I still have a professional W2 job, which is what most of my assets have been paid off from. I’ve previously assumed I didn’t need much more than good auto insurance incase of an accident or being hit by an under insured driver. And I’m cautious to only drive vehicles that are under factory warranty or that are trusted to not introduce risk from them breaking while being tested. And 99% of my vehicles comes from good dealerships I’ve made a handshake type agreement with. I get to borrow their vehicles and I give dealership recognition in my articles in return. I know you’re a busy guy, but if you wouldn’t mind sharing your thoughts on this as a fellow part time YouTuber I’d so much appreciate it! Best regards!!
So you don’t think someone needs an LLC because they don’t have any clients yet? What happens if they take that advice, get a client, the client then claims that due to your negligence, you took their business down for 5 days and claim they are out $700 k in revenue. They would be able to personally sue you and your personal assets would be something they could sue you for, correct? Unless I’m missing something, that sounds like bad advice depending on the type of work the person intends for the business to be engaging in.
Thank you. I’ve been putting off making an LLC because every time I consider all the things I would have to do for it and all the time it would take I cringe. I work a full time job and the effort and time it would take just to maintain an LLC would leave no time to produce art for me to sell. No I can’t afford an assistant lol! And what’s the use of having a business if I don’t have time to supply it with goods? Plus I doubt I would make enough in the first few years to justify the cost of an llc
Hi! I have a question Jim. I wrote an ebook under a pen name. That later blossomed into a Facebook group (fake name) with a small following. I’d like to begin offering coaching packages. Would I need a DBA in my pen name or create an LLC in my pen name? Should I just start over using my birth name? I’m so confused by all of this.
I have a truck and most the tools to get my business going which is with doing roadside service in Oregon. I have the ability to start with AAA and do service for them, cause I already do it under someone else. I am just tired of making others rich and would like to focus on myself and family and bring a better service to my customers when I start. What would you suggest before I start?
So like another comment on here, I just really want my business name being completely honest. I want my business name on my products without worry someone trying to run off with it. Now perusal this I completely understand the meaning of LLC SOOOO should I just do a DBA?? And still be able to operate my business??! ESPECIALLY online ? Because I feel like I already knew deep down I didn’t really need to do all of this .. as of yet
Sold…. instantly u got my sub. for life. I love the the Brutal honesty and the swift kick in the ass. First thing u said “no revenue” and “thinking u need an LLC as the first thing to do to start business” LMAO. Im that person u were talking about. I pictured myself walking into ur office and then walking straight out after hearing ur first bit of information in the start of ur article. Great information, great kick in the ass, awesome presentation. Thank you. Much appreciated and much love.
I feel silly lol I haven’t even started my online business meaning I don’t have not even 1 client yet,, and I’m here worrying about getting my LLC 😒😒 I don’t have a house just rent a place no assets, and to file for one they charging me $1500 . Do you know what I can do with $1500 lol ? I can finish setting up my business finish my labels and finish the website 😒
Appreciate this candid article very much. I think many of us want to form an LLC right away before our business generates income because 1. we are excited and 2. We want to apply for grants/loans using our business name. This article helped clarify why we shouldn’t rush to get an LLC if just selling digital products or certain items online that wouldn’t attract an easy lawsuit etc. Thank you!! Please make more articles!!!
Can’t an LLC be useful to build business credit tradelines that stand alone in the name of the business, without personal guarantees from the business owner? Isn’t there a —lower— statistical incidence of the IRS auditing business tax returns from pass through entities, such as LLCs, compared to audits of Schedule C business tax returns filed by a sole proprietors?
Thank you for the article! I am trying to sell my art online, possible in my own online shop out of my house or at conventions in Virginia or Maryland. Even if it’s from home or at a convention what legal documents would you recommend I start with? Is there a site you would recommend that helps new small businesses and walks them through the forms/process? Type of lawyer/site/accountant recommended for contact? Thank you!
This article has really helped me. I have been vacillating between a DBA and LLC. I don’t make a lot of money right now from my side hustle and I don’t have any property other than an old truck (and not much in the bank). I’m just worried about being sued (more anxiety talking than logic). I just want to be a freelance designer and artist so my business isn’t a high-risk one. I will just go with a DBA and “upgrade” to an LLC if I need to in the future. Thanks!
So im a musician and in order to collect some of my royalties all roads are pointing towards creating an LLC. I dont make very much money but i’ve been doing it for years and its been inccreasing. When I went to some collection agencies they arent taking my requests seriously without the correct ID numbers; ID numbers that are only given to Publishers and publishers have to have an LLC. I use my branding everywhere im making a website now my branding is on my car. And im leaking money im not set up to collect. Unfortunately this isnt often a cash in hand type of business.. I just feel lost after perusal this. A response would be greatly appreciated.
Why would we trust a man with a gray bed sheet as a backdrop? We do not want to end up like you. If you “cut corners here” where else in your life are you cutting corners. And are you the guy mixed up in that criminal case? Aug 27, 2021 — James Hart, a petty officer 3rd class formerly assigned to the Lake Erie, used his social media accounts … etc etc
Hi, friend. I “rushed” out and started an LLC for a freight brokering business. But a friend warned me that the name of the business may create some issues, so in five days I turned right around and dissolved it. About a week later I came up with another name, but did not submit the data as I had with the first. Did I create any trouble for myself? There may be a higher risk of being sued as a freight broker, agent, or dispatcher because the load can become damaged in transit, stolen, and in some cases a driver can just get disgruntled with the world, pull the truck over on the side of the road, and leave it there. In other words, somebody will have to pay for damages and/or lost or stolen freight. Thoughts?
If you do B2B you can’t get clients without being a registered business. You won’t have any credibility to them and they won’t trust you. Also, if you do something like marketing and the company doesn’t see the results they paid you for, they can file a lawsuit against you. That’s why Professional Insurance Coverage is a thing.
It’s the fear of being sued and that they will give the plaintiff your Craftsman tool set worth $129.99. And maybe they will take your 25 year old pickup truck with 236,000 miles that has a street value of about $2,500 bucks. And maybe they will try and get your George Foreman grill too! Maybe you violate a copyright on some printed T-shirts. Like a shirt that says “Four Score and Seven Hot Dogs ago.” Someone maybe copyrighted that with an actual filing back in 1956, and they were patiently waiting for you to try and sell a single T-shirt online with that exact saying. AHA! Caught you, you thief! No defense. I have the copyright paperwork! Ok, yea, your screwed on that. The judge can issue a judgment for “x” amount of dollars based on Federal law. So bad example. The LLC won’t help you there. Maybe someone sues you because the ink used on the T-shirt caused them to have some major skin problem. Now they are going to get that grill and those Craftsman tools, and that Roth IRA that you have $1,529.87 in! Aha! Should have chosen the LLC to protect those assets, and your DVD movie collection and your favorite slippers. But you didn’t form the LLC because the law firm that you used for your registered agent did not send a reminder to you to pay your annual Secretary of State fee and file a simple one page information report. Ooops. But seriously, if you can’t keep track of something as basic as that, should you really even be in business ever? Probably not. Just stick with perusal your movies and eating stale chips on the sofa.
Stop apologizing Lmao 100,000% exactly what I needed to hear and I’m glad I did lmao thank you. Just saying if you want to sound less harsh my only advice would be some of these people are prolly like me. In the sense that they just didn’t understand what exactly the LLC was for I guess lol but anyway thank you
Jim, the problem, is LLC can help save Taxes, and with Biden ripping apart, the answer is clear that we have to save our tax $$. I dont have revenue but I intend to create and LLC on my private resident after knowing one of my friend was able to do the same and claim tax break on renovating his residence !!
I formed LLC for a massage business that lasted 2 months. It wasn’t neccessary, especailly starting out. I thought about this, but my friend talked me into it. I understand both. But. That shouldn’t have been formed just starting out. Protection is nice, and the main reason she pressed it. But man.. A. Lot of hoops and I’m actually glad the business is no more. …
Hello, I am a personal trainer and running a team of personal trainers. I have Liability Insurance for 6 instances of 1million and I have included my newly formed LLC as covered in the insurance. I think I do not qualify for the first two reasons of not having an LLC, It is high risk due to me hiring other trainers and the possibility of injury, and I do have a couple thousand (3+) coming in regularly in revenue (i know thats not much but my business is only 3 weeks old so bare with us). I did though use my bank account origionally which I have read is a mistake and I should create a business bank account. I could use some advice on how to proceed.
I just came across your article. If you’ve addressed this elsewhere, forgive me. The problem I’m running into (and I’m happy to remain a sole p.) is that as I’m getting more into the reselling world, Ebay and Amazon require you to be an LLC to engage in certain types of business. In the case of Ebay, I picked up a product to resell, did the research within Ebay (I thought), went to try and list it and was told I had to have a business account. So now I’ve spent money on a product that I can’t sell anywhere. Not sure what to do because, although I do have revenue, I’m certainly not scaled up to the extent that I’m at risk and need the LLC. Similarly with Amazon, there are aspect of their FBA program that I’d like to access, but again I have to have an LLC. It’s discouraging when trying to get things up and going, especially as a part time venture.
Completely agree, as most people are just setting around doing nothing, some of these people but their Home as the address of their llc. That being said, lets get the losers aside. If someone is serious about building “wealth” and protecting assets, and get tax breaks you have to have a LLC. As what was not mention, if you co-mingle your income, funds expensives, with your personal and business, your not considered a llc yes the Secretary of state filing says llc but your acting as a sole prop. And the courts would treat the entity like that. So if you dont run your llc property its only a sole prop anyway.
Thank you very much for being honest which is very hard to find the world we live in today and I appreciate you for being upfront and from what I see being honest and would short integrity and honesty and now I can probably see why you’re very successful so thank you so much and who knows I can’t I didn’t look to see when this article was made it could have been made a long time ago but hey I appreciate you Matt U.S. MARINE VETERAN
Mmm 🤔 one of my friends from college started a cute clothing line for rock climbers that started on etsy and then became its own brand. She wasnt big or anything but some rando company sued her out of business because the had the same name. She literally had to move home from la and live with her parents for a couple years because of the legal fees. Im not saying hes wrong but like
I’ve watched a bunch of your articles and this one was very clear about how I should be moving forward. I’m doing residential design in California, basically architectural work for residential owners for room additions and such. It’s on the riskier side in terms of liability so I know that an LLC is in my future just not sure when yet. Is there a threshold that I should be keeping an eye out for so that I know when it IS time to file an LLC? Thanks for all the content. Best website by far in this category. Cheers, Miles
An LLC may be the best thing for me. I have assets for my company, a few thousand dollars in a business account, and in the process of formally creating a film production company. Started this a couple of years ago. I can say growth and development are moving forward, but potential investors want to see better organization and an LLC, at least.
OPINION NOTED. Mmm for someone who is building a vehicle for a longterm or even life.. you should stop trying to avoid the inevitable and crack open a book and learn how to run a LLC. Its literally 90% of the battle.😂 Let me put it this way, You dont learn how to really swim treading 2ft of water. small potatoe clients who want to avoid the inevitable.. listen to him. 2 different routes. My OPINION, NOTED.
Any tips for me. Im a YouTuber who doesn’t sell anything and I started an Llc mainly to claim the name of my website. The fees and work are daunting and I want to get myself out of this. My website will likely be monetized in 2024 but I will never be selling anything. What should I do? In Florida by the way
Hi Jim, thank you very much for this article. As a non-US resident looking to form a legal entity with no partners that will work with Amazon, Walmart, eBay, …. Etc. in the e-commerce business, in general. Need your advice with should I go with single-member LLC but all these platforms treat this type of entity by not putting the name of the LLC on the storefront they only put the owner’s name which is not professional at all OR I go with LLC to be taxed as C-corp OR C-corp, which is better? Thank you again
Here is my issue in with your first reason regarding revenue. Most states require you to get business licenses, file with the city, etc. before legally conducting business. Obviously, you can file as a sole proprietor, but let’s assume you then start making revenue, and then want to switch to an LLC. Now you’re going through the hassle of getting everything transferred from a sole proprietor to an LLC. I’m not saying someone should or shouldn’t get an LLC, just specifically saying that current revenue may not an important consideration.
I am thankful I watched this article. However, now I am truly confused. I am wanting to start my own publishing company. Mainly to help manage and maintain my own copywrites. I am a songwriter as well as an author. I self-publish my work so that I own the copywrites and can keep the royalties. Nearly everybody I have spoken with who has started their own publishing companies stresses the need for an LLC. In time I plan to publish for other writers but for the time being, I want the company to maintain and manage my personal copywrites. So I wonder, in my case is an LLC truly needed?
I keep seeing people talk about how there are better tax advantages with an S corporation in comparison to an LLC. I feel the message is vague and the viewers are misunderstanding in my opinion. When you establish an LLC, you can file your taxes as a sole proprietor, partnership, S corp or C Corp. Depending on your profits, it may make more sense to file as an S Corp in comparison to a Sole Prop. Also, if you establish a corporation, you can elect to file taxes as an S Corp or C Corp. You can establish a simple LLC and convert your tax filing to an S-CORP. You would only do this if your self employment tax exceeds the tax burden faced by the S-Corp.
Hi can you help if you have an LLC and you have Court violations towards the LLC and you’re planning to dissolve to put as a sole proprietorship can you do that and can the violations go towards your own name as owner sole proprietorship so you can address the violations in your own name because as LLC you cannot represent yourself or your company you can only represent yourself in your name so was going to go back to sole proprietorship anyway might as well do it now can you verify what the violations currently also be transferred to my name or no?
Sorry, I disagree.. spend the few hundred $$ and be protected vs getting caught with your pants down.. people threaten to sue over the weirdest things. If someone forgets to pay their annual fees to the state, they obviously were not very serious about running their business. Most states send multiple pieces of mail before shutting you down.
How about independent car dealers? Started out sole proprietor 5 years ago without many assets and not a ton of revenue (100k ish) 2022 I inherited property (30+ acres) with high value tourist area. 2022 we had 750k revenue at our same little lot. 2023 we just leased large lot and project $2 million revenue Obviously equates to around 20-25% GP but we floorplan (finance inventory) our vehicles so if market crashes we could be stuck owing tons of $$$ LLC?
A caveat maybe… If you are a songwriter or composer you would need the LLC BEFORE you get anything started, before you make one penny of revenue. This is because if someone sues you saying you stole their song (copyright infringement) and you have to defend yourself in court (backed up by YOUR copyright registration of that particular work, with the Gov. under your LLC, that you obtained BEFORE publishing your works – before you made any revenue), then they would be suing your LLC, not you. Would this be correct? I certainly would not want to be sued for copyright infringement and lose way more money than I ever made in revenue if the judgment doesn’t go my way. Thoughts?
I’m an Uber Eats driver who works 60-70 hrs a week and I hear so much on YouTube about needing an llc vs not needing an llc. I’m confused. On one hand, I ask myself, who would possibly sue me as an uber driver…maybe if I get in a wreck, but outside of that, idk. On the other hand, I know I’m still learning and I’m willing to learn and do what I need to to continue this successful way of earning income. Would forming an llc simply to lower taxes be a worthy benefit in comparison to the yearly llc fees, etc?
Forming an LLC by a lawyer and having them act as a ‘registered agent’ seems to give more discretion. This fact is thanks to the ‘lawyer – client’ legal relationship of trust provided for by law. After all, a lawyer cannot simply provide information about his client. So from that point of view it seems better to work through a lawyer… Or am I seeing it wrong?
Hello Jim, someone recommended using the LLC for write offs, and the way he represented it to me sounded very good for tax purposes. Is this wrong ? I am starting an online business and I thought maybe that would have helped me withy initial start up costs. But then it sounds like more of a headache and if I don’t make the revenue I need it would probably end up being for nothing perhaps. At what point would you suggest creating one? And could I do the write offs without an LLC??
Sorry, once you get hooked up with something like Airbnb for an online renting business, doing all the hard work of getting your reputation… If you switch to an LLC, a business status, to unlink your personal status as a homeowner with a host to a business, you lose all of the hard work of the good reviews you created. I suspect changing business status might do the same thing but hey, see for yourself.
Hi!! Been following for a but. Just had a question. I see I don’t need an LLC right now. I am getting ready to launch and have my business name ready. Could I still use that name or what can I do to protect it. I launch in July. Thank you so much for the info that you share!! This article stopped me from making a huge mistake!!
I want to organize and promote concerts where I live. I want to bring my favorite bands to town. I want to start with a DBA but I also want to form an LLC because concerts are high risk events. There’s always the one person who starts trouble. I will do everything to be prepared to handle those situations but I’m also afraid of getting sued because someone got hurt at my concert. I own a car but aside from that, I don’t have much money and I don’t own a home (I rent). Should I start with a DBA or an LLC?
so correct me if im wrong but i think this advice is dependant on your business. for example if your business is siding houses. and you go out and side a few houses for revenue prior to getting properly licenced and insured, which youll need an EIN For. youll be violating a plethera of local and state laws in place to protect homeowners.
i wanna start by saying it’s amazing that you are giving the cons of an LLC despite being part of your services, but sometimes LLC’s and LTD’s are Imposed on you because you need them to open a bank account to do business with US based clients as a foreigner for example, and talking about the point of being a foreigner, LLC’s could bring more clients since they know you are someone trusted by the state secretary so there is a higher chance for them to hire you, but in general i totally agree with you if you can use that money as a capital for your business that’s better.
I am a resident of Florida where I OWN a condo. I am also a Software engineer that has been working w2 from home. My next project will be in Irvine Cal. Start date is March 15th 2024 and I will be renting a condo across the street from my client. I want to remain a Florida resident and avoid paying Cal state taxes. Is is possible to write off the rent for the condo, which is about 3K/month? The IRS web site says If I am in Cal for 9 Months or more, I am considered a Cal resident and subject to Cal taxes. What if I returned back to florida for about 1 month out of year 2024, which will put me under the 9 month period. Can I avoid Cal State taxes and still deduct my Rent? I will only be working while in Cal. I would not rent this location if I did not have this Project across the street.
Hi, thanks for your articles. I got a question.what if I only want to use an LLC name for my daughter’s vehicle since she is still a young adult. .but no income for the LLC name, it’s just for limited liability for the car she drives but I don’t use the LLC name for the assets we have nor trying to claim any tax deduction at all for the car use.In this case, can we open an LLC name just for her car in case accident happens? In other words, we are only opening a LLC name just for her car tile. No loan on the car, just cash purchase. thanks
Great content, thanks! Last April I started working on a job for a very large company but not directly. Because their hiring process is so long and they wanted me to start work right away, they had me start as an employee thru a company they already had contracted. That job should come to an end in Sept but now they are talking about hiring me as my own company for another job. Lets say I’ve made 150k on this job and the next job will be 30k by end of year. My question is if I open an S-corp now can I run the full amount through the S-corp for this year or only the 30k?
Hey if anyone has any advice. I could really use it. I’m 19 years old. My father has had a business for about 15 years in exterior/interior painting, I’ve learned everything about what he does. He has great cliental and is never short of work. But always short of workers. He can’t expand farther than what he can do. Maybe 1/2 workers as well. Also, my father is an immigrant and can’t legalize anything or do anything other than do what he’s been doing. And that’s just working. He has an apartment bought, and I’m about ready to go onto the market for a house with his financial help. His painting business also provides for 3 cars and a family of 5. So income is definitely not a worry. Seems like I’m set up here. Any advice anybody can give? Where to start?