Should i start an llc for my side hustle

Things to Know Before Starting an LLC

Forming a limited liability company is easy. But, what should you know beforehand?

We’ve put together a list of things many entrepreneurs say they wish they knew before they started their first LLC:

1.

Do i need an llc or sole proprietorship

Your LLC Will Need a Distinguishable Name

Most states require registered businesses to have names that are “distinguishable” from any other business name in the state. This basically means that there should be a clear difference between one business name and another.

For this reason, it’s best to start thinking about a name for your LLC as soon as possible — before someone else can claim it.

Even if you aren’t yet ready to form your LLC, most states offer an option to reserve a business name for a period of time and at a low cost (usually under $50).

Recommended: Not sure what to name your business?

Check out our LLC Name Generator.

You’ll need to complete a business name search online to make sure your LLC name is unique, and you’ll need to meet your state’s naming guidelines.

Once you’ve settled on a name,

when should i open an llc

when should i form an llc for real estate