When to Setup a Series LLC | 2024

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Many business owners choose to run multiple business operations under a single LLC. While it is true that having an LLC can protect you from certain liabilities, if you put too many business operations under one LLC, it can actually create a lot of financial risk.

This is because if all of your business operations are under one LLC, then liabilities from one operation can potentially spill over into another operation and put that operation at risk. Business owners can protect themselves from such liability catastrophes by using a “series LLC.”

In this video, tax expert Karlton Dennis fully explains series LLCs including what they are, how they work, and how to use them correctly to protect business operations from major financial risks. He also breaks down who should have them and which states allow them.

CHAPTERS:
0:00 Video Overview
0:52 a Series LLC Defined
2:14 Who Should Have a Series LLC
3:38 How to Setup a Series LLC
5:50 How to Structure a Series LLC
9:41 How is a Series LLC Taxed?
10:39 Who Shouldn't Form a Series LLC
12:22 Is a Series LLC Worth It?

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#SeriesLLC #Taxes #HowTo