In today's episode of TrueBooks Tuesday, we are going to talk all about LLCs!

Check out our other TrueBooks Tax videos!
   • TrueBooks Tuesdays (Taxes)  

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According to Matt, when you start a business, you are going to want to set up an LLC, also known as a Limited Liability Company. The main purpose of an LLC is to protect your personal assets. After you set up your LLC, you are going to want to get an EIN. An EIN is an Employer Identification Number. Once you've opened up your bank account and you have your LLC and EIN, you are going to want to focus on branding! Check out the two videos below that cover everything you need to know about branding!

After you've completed all of that, you need to declare a tax classification. Matt and I discuss the differences between a Disregarded Entity, Partnership, S-Corporation, and C-Corporation. I personally am an S-Corp and have a lot of LLCs. All of my businesses flow up into my holding company.

Our goal for this video was to explain the differences between the four types of LLCs. If this video made sense, please let us that that we were able to provide value! On the other hand, if you are confused about anything we said, let us know down below and we will do our best to get back to you!