Does my business need to be financially self-sufficient before becoming an LLC?

Ask Kiff

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6+ y ago 6:49

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How much money does your business need to be making before it’s time to become an LLC? Can you create an LLC if you aren’t financially stable? Watch this video to learn!

The short answer is that financial self-sufficiency isn’t a legal requirement to become an LLC. But the LLC DOES need enough money to survive.

To do that, you’ll do two things:

-make sure the LLC starts off with 3-6 months of expenses in your accounts -only pay yourself when the LLC accounts have enough to cover the regular expenses

Curious what other tasks you should be doing now you are an LLC? Then grab the workbook here: [https://theartistsjd.com/llc-financially-self-sufficient/] (https://theartistsjd.com/llc-financially-self-sufficient/)

Read the show notes, listen to an audio-only version, or read the transcript here: [https://theartistsjd.com/llc-financially-self-sufficient/] (https://theartistsjd.com/llc-financially-self-sufficient/)

Learn about the LLC course designed to help you create your LLC (and keep it legit) here: [https://theartistsjd.com/llc-intensive/] (https://theartistsjd.com/llc-intensive/)

What's Ask Kiff? Each week, Kiffanie adds ease to the legalese of running your creative business by answering one question submitted by creative business owners just like you! Have a question you want to submit? Leave it here: [http://theartistsjd.com/ask-kiff/] (http://theartistsjd.com/ask-kiff/)

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#Business #Kiffanie | the artist's J.D #Entrepreneur