LLC Beginner’s Guide: How to Successfully Start and Maintain a Limited Liability Company Even if You’ve Got Zero Experience

by Walter Grant

Planning to start an LLC of your own? Don’t begin until you know about these costly mistakes.
Do you know what makes banks less likely to give you a business loan?

Or what kind of information your state will penalize you for if you don’t report it each year?

What about the risks to your personal assets if you don’t properly structure your company?

These are just a few examples of the innocent mistakes many people make when starting an LLC. 

But they’re peanuts next to what’s possibly the most common mistake among business owners — not knowing the ins and outs of LLCs before forming one.

Without a basic understanding of what goes into launching and running an LLC, you could end up wasting thousands of dollars fixing even the smallest mistakes.

What specifically should you know before you start?

This is just one of the key questions covered in this book. 

Based on the author’s own experience starting his own businesses, it shows you not only which mistakes to avoid but also tips for managing your LLC successfully once it’s up and running.

Here’s a small fraction of what you’ll find inside this

How to start your LLC in just 6 easy steps, and what to know before you begin the processAn all-too-common pitfall among owners that chokes business growth (plus, 4 other first-timer mistakes to avoid when forming your LLC)How to know whether you really need an LLC, and 5 alternative routes you can take to forming a businessThe 9 key documents every LLC owner needs to keep track of to stay out of trouble with the lawA simple method for finding strangers to invest in your business without meeting face-to-face (you might be surprised just how easy this is to do on your own)5 deciding questions to ask yourself before you form an LLC (and the very first thing you should do immediately after you’ve formed your LLC)Why it might be better to have your business taxed as a corporation, and two different types of corporations to consider based on your situationHow to choose the right structure for your business — it all depends on these 9 factorsThe one condition that allows you to skip paying taxes as an LLC (most other business entities don’t offer this special tax benefit)And much more!

Specifically written for beginners, this book clears out a simple and easy-to-follow roadmap for starting and managing your LLC completely from scratch. 

By the end, you’ll know how to choose the right type of LLC… what kinds of paperwork you need to file… and which first steps to take after forming your LLC.

So even if you’ve never started a business before, you can launch your LLC smoothly the first time around.

If you’re ready to map out your path to becoming an LLC owner, then scroll up and click the “Add to Cart” button right now.

Genres: Business

154 pages, Kindle Edition

Published April 18, 2023

About the author

Walter Grant became of age in the navy during the height of the cold war. He earned his aircrew wings as a radioman and radar operator aboard long range patrol aircraft tracking soviet submarines and trawlers lying offshore near Cape Canaveral during the space racesputnik was launched on his watch. He was schooled in atomic, biological, and chemical weapons, as well as antisubmarine warfare. His crew was selected to drop and test the first nuclear depth charge. He is one of only a handful of enlisted men to have flown Mach-2. Walter flew into Cuba before and after Castros overthrow of the Batista government which led him, sometime later, to read Tragic IslandHow communism came to Cuba, and in turn The Secret World of the KGBrequired reading for the CIA. His collection of books on the cold war is extensive. Walters military career took him to a dozen countries; his fascination with the cold war took him to more than twice that many. Two weeks after the Wall came down he passed through Brandenburg Gate into East Berlin and traveled extensively in the Eastern Bloca very sobering experience."

Reviews

[Nancy Retallick · Rating 5 out of 5]

Grant leaves no stone unturned. A fantastic educational tool for anyone who is thinking about opening their own business.

Walter Grant’s “LLC Beginners Guide” is a fantastic educational tool for anyone who is thinking about opening their own business. The writer tells his own story of how things didn’t go well for him when he started his first company. In this book he shares his life lessons and knowledge.

Always good to familiarize yourself with your local and state laws first before embarking on a business adventure. Grant establishes business ownership as one of responsibility. Grant guides readers through the process of starting their own Limited Liability Corporation. He discusses liability, and financial responsibilities. He deciphers the difference between member-managed and manager-managed LLCs. Grant equips readers with knowledge and understanding so informed decisions can be made. He also discusses common misconceptions.

He discusses what an LLC owner is personally liable for and financial responsibilities. Know your state laws for taxes is emphasized more than once. Know the pitfalls. It is always good to do your own research before embarking on any business venture, especially if you open a business in multiple states.

Grant gives readers information, and the pros and cons, about the differences between LLCs and corporations. I thought the book was very educational.

He prepares readers by discussing costs, such as formation fees, and franchise tax fees. If you can’t decide if an LLC is right for your business adventure this book will help. He walks you through filing articles of organization and creating an operating agreement. He talks about personal financial risks and hiring employees.

Overall, this is a valuable resource.

[Madonna Fortin · Rating 4 out of 5]

This is a step-by-step guide on starting, structuring, and running your very own limited liability company (LLC), providing guidance on the fundamentals of owning and managing LLC’s, learning taxes and the pros and cons that go into starting an LLC and being prepared with the familiarity, confidence and knowledge needed to start your own business. This guide debunks common misconceptions about LLC’s and further discusses the six step process of setting up an LLC: Choosing your LLC’s name and registering it in your state, filing the articles of organization for your state, appointing a registered agent fo your LLC, creating an operating agreement for your LLC, getting an EIN (Employee ID Number) from the IRS, and opening a bank account for your LLC and goes over the two main types of LLC’s: single member LLC’s (SMLLC) and multi-member LLC (MMLLC). If you’re an entrepreneur interested in starting your own business, this book has it all.

I was given copy in exchange for my honest review.

[D.G. Farnsworth · Rating 5 out of 5]

This book is a great resource for anyone looking to start an LLC. It is clear, concise, and up-to-date. The author does a great job of explaining the basics of forming an LLC and the steps needed for successful maintenance. I also appreciated the proactive approach of the book, which acknowledges that an LLC may not be suitable for everyone. The emphasis on taxation options yields quite valuable information. Generally, this book is a needed tool for anyone considering starting their own business. Starting an LLC can feel overwhelming, but this beginner-friendly guide makes it simple to follow the process and make informed decisions. The text precisely outlines the advantages of LLCs, like limited liability protection and tax flexibility. The book also presents a step-by-step roadmap for navigating the intricacies of LLC formation and management. The author's straightforward explanations and practical knowledge empower readers to relax on their LLC formation adventure.

[Natalie Susa · Rating 1 out of 5]

A lot of the information falls short of being enough. For instance, there was a chapter on picking a state but only gave detailed information on Nevada and Delaware. Even then most of the information was extremely repetitive. I mean maybe this a decent book for someone with zero knowledge, but even then I learned a lot of differences between business types in high school law and economics class and the rest of the information is kind of just summarized and the reader is told to just do more research elsewhere which I don’t think is very helpful. I think the author has many excellent resources, but the writing itself reads like an assigned paper that just proves that they know the information rather than something someone else would use as a resource.

[Taylor Kirk · Rating 5 out of 5]

This is great for anyone wanting to get into the entrepreneurial world and start their own business. It was like having a savvy friend guide you through the maze of starting a LLC, which can be a daunting task for anyone. The author nails the balance between comprehensive and approachable, breaking down complex concepts into digestible nuggets. What I think sets this book apart is its real-world focus. It’s not just theory, but practical steps. I liked how the author simplified all the legal jargon and offered strategic tips to make sure you're not overwhelmed. The insights keep you up-to-date with the ever-changing business landscape. I highly recommend this book anyone looking to start their own LLC, but don’t know where to start.

[Sachi Ito · Rating 5 out of 5]

Great step-by-step guide

Walter Grant has written a great book on creating an LLC. He explains that an LLC protects the owners from liabilities and allows them to avoid things like double taxation. Some of the things that I learned from the book are: how to structure an LLC, what specific tasks are involved in running an LLC, how taxes work with an LLC, and the risks involved with having a single member LLC. But there is so much more to learn from this book. I paid special attention to “the essential do’s“ and “the essential don’ts” of forming an LLC. With a guide like this, starting a company is a lot less daunting.

[Grace Bazile · Rating 5 out of 5]

Walter Grant's "LLC Beginner’s Guide" is an invaluable resource for novices. The book provides a comprehensive, easy-to-follow roadmap for starting and managing an LLC, even for those with no prior experience. It covers essential aspects such as formation, taxation, and raising funds, while also offering insights into common pitfalls to avoid
The author's personal experiences add a practical dimension, making the guide relatable and accessible. This book is a must-read for anyone looking to navigate the complexities of establishing and maintaining an LLC successfully

[Tara Dodson · Rating 5 out of 5]

excellent and relevant information

So many people these days are looking for ways to make income or additional income, myself include. I thought this would be a good resource to add to my toolkit. I wasn’t disappointed Much of the information in this book I hadn’t heard of. So the book is very intriguing to someone interested in a startup LLC. I highly recommend this, it is so helpful.

[The Bourbon-Sipping Bibliophile · Rating 3 out of 5]

Reading "Starting an LLC Made Simple" is like sitting down for a chat with a wise mentor who knows how to cut through the fluff and get straight to the point. It's the CliffsNotes version of starting a business, minus all the boring bits. So whether you're a budding entrepreneur or a seasoned pro looking to brush up on your knowledge, this book is a must-read. Trust me, your future self—and your business—will thank you for it!

[Danielle Nicole · Rating 5 out of 5]

This book covers the common misconceptions of what exactly an LLC is, and breaks down exactly what it is. Thinking about starting my own business, this book was so helpful. It breaks down everything in a way that a beginner will understand. I had no idea what an LLC was before this book, but now I can say I’m very informed and I can make a better business decision.

[David Aragon · Rating 3 out of 5]

Grant gives a thorough explanation of all types of LLCs, weighs pros and cons and provides real world examples. He also provides a comprehensive guide to the necessity fees, taxes and miscellaneous expenses. The end of the book features a lot of information on how LLCs function in an actual business arena.

[Topu Mittra · Rating 5 out of 5]

This book is a great first for your LLC it has everything from the beginning to the end remember knowledge is key if you read this book by this Author, you are all good.

[Matthew Scigousky · Rating 4 out of 5]

It is what it is

If you are looking for some direction and info on LLC’s this is not a bad place to start. It seems to have everything in you need to know

[Ugochukwu Uche · Rating 5 out of 5]

Informative

Walter did a good job explaining how to start your own LLC, structure it for taxes, and all the way to dissolving the LLC when you no longer need it.

[Hollidaisy · Rating 5 out of 5]

Very concise which is exactly what I wanted- no fluff just info.