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Video instructions and help with filling out and completing Who Form 944 Pr Entities

Instructions and Help about Who Form 944 Pr Entities

Hey everyone, this is Ryan KQ. I'm an attorney in Hawaii that specializes in compliance work. If you've come across my first video that I call Ryan Responds, in these videos, I will be talking and answering frequently asked questions submitted by viewers that are about business law or business legal concepts in general. These are very simple informative videos meant to address general everyday questions that I often see from lay people. So with that, the first question that I got was, "Do I need to form a business to sell goods and services?" I think what this person meant specifically is, "Do I need to form a business entity like a limited liability company or LLC, or a corporation?" The simple answer, in my response to that, is no, you don't. You don't need to have an LLC or a corporation. But the reality is that most attorneys tend to recommend forming a business entity because of limited liability and other types of benefits that come from having an LLC or a corporation. So that is something to think about if you just start selling goods and services. You would be considered a sole proprietorship. If you find somebody else and you still sell any goods or services together, you'd be considered a partnership. Again, those are very easy to do. You just start selling goods and services. There may be other requirements such as getting a tax license or certificate, depending on the types of goods and services that you're dealing with. You may need permits or licensing, such as for the sale of alcohol. But in general, there is nothing that necessarily requires you to have an LLC or corporation. It's just that there are benefits which we can talk about in a later video, if any of you...