Members thefyn Posted July 6, 2011 Members Share Posted July 6, 2011 Feels good. I am starting a music/media limited liability company to release my own music and videos. It's called Single Minded Media LLC I just paid the gov and legal fees and I'm waiting on the paperwork. I write/perform/record my own uber rawk style music and vids, and am releasing my debut CD in the fall. I wanted to make sure I did it all legally since I have a green card in the USA and I can't mess around. I won't sell {censored}e, but I have a lot of things planned that will cost me ziltch. I tested the waters by sending out 5 really half assed press packs, and I got a great response. The single ended up being played on Radio 1 late night and the DJ loved it, saying how awesome it was. I got a mention on "rock my monkey" (Evile are on the front page today) and Altrevolt.com just got back to me and said they want to do a feature. My biz plan has me sending out a 1000 press packs to mags, blogs, reviewers etc etc. So to have a 60% success response rate from my first attempt was great. There is a 1% chance I will make money out of it, but I will give it a go anyway, just to say I tried. Wish me luck brodogs. Come on 1%....COME ON!!!! Roll them dice bitches! Link to comment Share on other sites More sharing options...
Members ~Abstract~ Posted July 6, 2011 Members Share Posted July 6, 2011 Good luck! Link to comment Share on other sites More sharing options...
Members OverDriven Posted July 6, 2011 Members Share Posted July 6, 2011 I own a few LLCs. Two are inactive currently, however. I'm a bit confused though...why aren't you just operating as a sole proprietorship? It doesn't sound like you would be at risk of liability in your current configuration anyways. Link to comment Share on other sites More sharing options...
Members Sex Panther Posted July 6, 2011 Members Share Posted July 6, 2011 Good on you for tryin' man. More than 99% of other people have accomplished...myself included. Link to comment Share on other sites More sharing options...
Members thefyn Posted July 6, 2011 Author Members Share Posted July 6, 2011 I own a few LLCs. Two are inactive currently, however. I'm a bit confused though...why aren't you just operating as a sole proprietorship? It doesn't sound like you would be at risk of liability in your current configuration anyways. One brodog can run an LCC. (SMLLC) Single Member Limited Liability Companies Link to comment Share on other sites More sharing options...
Members thefyn Posted July 6, 2011 Author Members Share Posted July 6, 2011 Good on you for tryin' man. More than 99% of other people have accomplished...myself included. Link to comment Share on other sites More sharing options...
Members RSBro Posted July 6, 2011 Members Share Posted July 6, 2011 One brodog can run an LCC. (SMLLC) Single Member Limited Liability Companies Good move. Much smarter than going the "sole prop/Sch C" route. At least for tax purposes. I have an Association treated as an S-Corp or two around here somewhere... back when I was gettin' 1099 monies and could hustle dem taxes... W-2s are a helluva drug. Link to comment Share on other sites More sharing options...
Members Spizzledude Posted July 6, 2011 Members Share Posted July 6, 2011 [video=youtube;ahoidh-VmSw] Link to comment Share on other sites More sharing options...
Members Metalman X Posted July 6, 2011 Members Share Posted July 6, 2011 Pretty cool stuff man! Congrats! Link to comment Share on other sites More sharing options...
Members thenakedarab Posted July 6, 2011 Members Share Posted July 6, 2011 Congrats bro, just make sure you didn't put your SS# in the FEI/EIN field, and if you did have it removed. Remember, your filing is a public record. If you had an attorney or accountant do it for you and they added your SS#, then they should have it removed for you. If you don't mind my asking, how much were your legal fees? I may have been able to do it cheaper for you (it's what I do for work). Link to comment Share on other sites More sharing options...
Members OverDriven Posted July 7, 2011 Members Share Posted July 7, 2011 Good move. Much smarter than going the "sole prop/Sch C" route. At least for tax purposes. How? An LLC is taxed as a Sole Proprietorship anyways because it's treated as a pass-through when there is only one owner. At least it is in my case. Link to comment Share on other sites More sharing options...
Members RSBro Posted July 7, 2011 Members Share Posted July 7, 2011 How? An LLC is taxed as a Sole Proprietorship anyways because it's treated as a pass-through when there is only one owner. At least it is in my case. Yes but if you file your SMLLC as it's own 1065, and not on your Sch C, that's where your savings come in. The gross gets reported on Sch E, P. 2 via your K-1. Link to comment Share on other sites More sharing options...
Members guitarcapo Posted July 7, 2011 Members Share Posted July 7, 2011 Who cares? What's up with your avatar? Link to comment Share on other sites More sharing options...
Members thefyn Posted July 7, 2011 Author Members Share Posted July 7, 2011 Who cares?What's up with your avatar? A HCer found a tick on his friends dog. It was a big tick. So big he glued it to a pebble. And put a dime next to it to show off the size. Took a picture of it. Uploaded it. Took time out of his day to post a thread about it on here. It pretty much sums up HCAF in one image. Link to comment Share on other sites More sharing options...
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