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 those trends compliance work 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 ask very kind of general kind of everyday questions that I kind of 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 corporation and the simple answer is 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 is that most attorneys tend to recommend form and forming a business entity because of limited liability and also the other types of benefits that come from having an LLC or 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 found somebody else and you still stole any goods or services together you'd be considered a partnership again those are very very easy to do and you just start selling a 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 doing you may need permits or licensing such as like 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 questions about what possible benefits could be even for what we call a single-member LLC or a single shareholder corporation I hope that was helpful and I look forward to everybody's kind of questions and I'll see you in the next Ryan response Thanks you.