{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/65d77f8defcf5f0016bf2448/67dc634d782fc3c7c6db1d97?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Deadly Mistakes To Avoid When Setting Up Your LLC","description":"<p>Just because you have an LLC doesn't mean you're fully protected. Many business owners assume their LLC shields them from legal and financial risks---but small mistakes in setup and management can leave them vulnerable. Are you making these costly errors?</p><p><br></p><p>On this episode of Become Sensible, I break down the most common LLC mistakes entrepreneurs make and how to avoid them. We'll also cover tax-saving strategies, how to protect your business assets, and the key documents you MUST have in place.</p><p><br></p><p><strong>Connect</strong></p><p>Follow me, Fiona Nguyen, on <a href=\"https://www.linkedin.com/in/fionahnguyen/\" rel=\"noopener noreferrer\" target=\"_blank\">LinkedIn</a>. Learn more about <a href=\"https://balannx.com/\" rel=\"noopener noreferrer\" target=\"_blank\">Balannx</a>.</p><p><br></p><h3><strong>Timestamps</strong></h3><ul><li><strong>1:12</strong> - The #1 mistake: misunderstanding member-managed vs. manager-managed LLCs&nbsp;&nbsp;</li><li><strong>4:38</strong> - The financial risk of not separating business and personal accounts&nbsp;&nbsp;</li><li><strong>7:52</strong> - Why your LLC's operating agreement needs a profit distribution plan&nbsp;&nbsp;</li><li><strong>10:27</strong> - LLC tax classifications and how choosing the wrong one can cost you&nbsp;&nbsp;</li><li><strong>14:05</strong> - The benefits of using an LLC to own real estate&nbsp;&nbsp;</li><li><strong>16:48</strong> - Why assigning yourself an officer title in your LLC matters&nbsp;&nbsp;</li><li><strong>18:33</strong> - Smart tax strategies: business reimbursements, the Augusta Rule, and more&nbsp;&nbsp;</li><li><strong>22:14</strong> - The biggest tax filing mistakes LLC owners make&nbsp; </li></ul>","author_name":"Fiona Nguyen"}