Posted by BoomerSooner on 3/7/13 2:03pm
Msg #459829

LLC

Has anyone created an LLC for their NSA work?

Reply by Resilient/MD on 3/7/13 2:09pm
Msg #459832

I have.

Reply by BoomerSooner on 3/7/13 2:24pm
Msg #459837

what was your process? legal zoom? is your E&O insurance under your name or the LLC name?

Reply by ikando on 3/7/13 2:37pm
Msg #459845

Boomer, I would have sent this as a PM if you had linked your profile.

There are a number of ways to set up an LLC. LegalZoom is an option, but look at Nolo's books and software. I believe they're cheaper.

I have set up several of my own, and have also set up LLCs for a variety of other businesses. If you want my help, let me know.

Reply by Linda_H/FL on 3/7/13 2:42pm
Msg #459849

Since E&O insurance covers notarial errors only

CAN the LLC be the named insured? I don't think so - I think you, personally, have to be the named insured - the LLC doesn't hold the commission.

JMO

Also, BTW, to ikando - you can send a pm without them linking - just go to their post and click on the red "personal message" button.

Reply by ikando on 3/7/13 3:14pm
Msg #459861

Re: Since E&O insurance covers notarial errors only

Thank you, Linda. I've never known that.

Reply by sueharke on 3/8/13 12:47am
Msg #459985

Because of the recent changes in the tax law, I recommend reading the books, reading what legal zoom has to offer, and then sit down with an experience CPA or enrolled agent before forming a LLC. The reason to get information from other sources before consulting a CPA or EA is that you have a basis to ask questions. From what I've read from your previous posts, you would benefit from qualified professional help to guide you in the process, even if only on a consulting basis. It can cost more to fix a bad LLC than the cost to do it right the first time.

For the experienced notary who understands the process of setting up a LLC or S-Corp, this message is not meant for you. It is only meant for the inexperienced potential corporate former.