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Updated almost 15 years ago, 03/15/2010

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5
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Barbara C.
  • Texas
0
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5
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Help start up

Barbara C.
  • Texas
Posted

Hi, I'm new to BiggerPockets and have a few startup questions: Do I have to wait until I have an LLC set up before I can actual do any transactions? If so, how do I handle this when I file my 2009 taxes? Also, I suppose I would need to receive my EIN number in order to set up business bank account, for checks to pay bird dogs etc. I know I can apply for it on the government's website for free, and I can type in APPLIED FOR where its needed. However, since it seems to take a long time to get the LLC , name search etc. set up. Should I use my own personal information, and is there a way to legally transfer later to the corp before filing taxes in order to claim tax advantages? I do not want to file as sole proprietor. Another question, I feel that since I do not have the LLC established, any name I choose for my business would not really be legal, how can I use it to set up business, checking accounts, business cards etc? Sorry to ask so many questions. I do not yet have an accountant and hope to do my first deal pretty soon... money is at issue right now. Thank you

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