I am curious as to how many of you have formed LLC’s for your business. I keep hearing that it’s not really necessary. My E&O policy is for 100,00. I do understand that the LLC can protect my assets. I would love to hear your opinions. Thank you.
@christivanderbilt Excellent question! 
Just wondering if by any chance were you able to locate the immediately available information found within the Notary Cafe database on this topic?
This information is a GOLDMINE!
Most members express that they find it difficult/NEARLY IMPOSSIBLE to locate the Search Function in order to access the wealth of information available within the database that has been generously contributed by your sagacious fellow business owners over the years . . .
To be helpful, I’ve inserted an image for you & others [see below] to help members locate it to unlock the wisdom & knowledge of other members on the forums.
I’ve performed a cursory Search on your behalf and the results show ** 50+ separate** threads (in addition to yours) about this particular topic. There is a plethora of data immediately available on the threads within Notary Cafe. 
http://forum.notarycafe.com/search?q=%22llc%22
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SPECIAL NOTE: Accessing the database to locate information about potential clients has saved many of us an inordinate amount of time ‘chasing’ payments for Services professionally provided to potential non-payers . . . 
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I don’t have an LLC because I don’t have any assets. If they want money from me - good luck with that. But I increased my E & O to 100k and that seems to be getting a really good response. If I suddenly had assets to protect, I’d change my mind probably.
The first year I spent money on things for which there was no return. I understand the value of being an LLC. If you’re not a pauper or you’re married to someone who’s not a pauper. It’s just my opinion.
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I am a DBA at the moment but will be forming an LLC soon as to protect the very little personal assets I do have.
-Christyn
www.cajunnotary. com
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I absolutely have an LLC. It’s a single member so it’s a pass through entity. Plus, I provide all the signing services my LLC’s TIN and not my SSN.
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@christivanderbilt P.S. Reaching out to your Certified Public Accountant [CPA]/Tax Advisor on your specific business configuration will be of immense assistance to you in answering your query.
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Love your website, did you do it yourself?
Good evening one and all,
I can only provide answers to tax questions related to the LLC. I can only offer general, non-binding, information on the legal aspects. The information provided is only for general knowledge and personal edification. Always seek the advice from a qualified professional.
The LLC is a pass through entity when it comes to Federal Taxes. This means taxes are assessed as though the LLC doesn’t exist.
When it comes to LLC taxation at the State level, things get convoluted. Between the various cross state LLC charters, Tax Agreements, LLC anonymity and States that prohibit this practice…this is when you need to hire a Tax Professional.
Before changing your Tax status to an S- or C- corp, you need to talk with your Tax Pro. There are too many ‘experts’ who have no qualms to taking several thousands $$ from you to advise you to change taxing status, only to disappear like a burp in the wind when things turn sour.
On the legal side an LLC can provide you with certain legal protections. Due to the many variations in State Business codes, you would best be served by consulting a licensed attorney for advice.
Be careful taking advice from those who claim they can easily pierce the corporate veil. This is more often bravado than substance.
There are some who believe that since they don’t own any assets they’re immune from litigation, this may not be the case. For example, if you or your business owns the car you use to conduct business some states will assume your car is your personal or business property. Buying an E&O, business liability, General liability, and business coverage for your vehicle.
I’m currently working with a client who put their assets into a Trust hoping to avoid the hazards of litigation. They were sued, the Plaintiff successfully petitioned the Court to dissolve the Trust, leaving my client to deal with the aftermath.
Whether or not you should form an LLC is something you should discuss with both your Tax Professional and Attorney.
All for now, Comments invited.
Mark
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