I am Andre Mikhailov, the founder and owner of TaxFreeCorpI would like to expand on the subject of doing business having a registered company, or sticking to the rhetoric so-called "Anti-LLC" ⛔️

First of all, let's touch briefly on my background. I moved to the US in 1999 and registered the first Amazon account in 2003 while studying in college. I used it to sell my own textbooks, which was very popular among students those days. Unfortunately, I did not save that Amazon account, but the ones I had from 2008, 2010 and 2012 are still with me.

Since 2004, I have been actively engaged in different business activities regarding buying, selling and renting real estate and financials. Due to that I am experienced in participating in different kinds of legal proceedings. I wonder if you know that you can find yourself in court because of the most unexpected things, which are not always possible to foresee in the United States?

For instance, the tenant broke his leg on the porch of your house. This fact itself is already a possible reason that you will find yourself in court. I am not joking! Depending on how you do your business, a lawsuit will be brought against either your company or you personally. Also, all your personal property is at risk if you lose in court and don't have the appropriate insurance. You'll have to fight back with all your strength. In this regard, if you have an LLC (or corporation) for a specific project, then closing the company is one of the decisions that can be taken not to risk your own properties.

The lesson I have learned from having companies (and I have dozens of them) is that you should shed your personal responsibility. It minimizes the risk of losing your personal assets if your business comes under attack.

My lawyer, who by the way is one of the Top 100 US Lawyers, recommended registering a separate LLC for each project and each direction. For example, if you have a brand and several branches inside it, it is better to have an independent LLC for each one.

Following this advice, I have different companies for each of my businesses:
– one for buying and owning an estate,
– another for renting it out,
– for each mortgage loan issued – its own company,
– for each Amazon account – also its own company.

To conclude, I would like to make the point that LLC is definitely the most basic / standard tool, which is easier and more reliable to work with. LLC allows you to function as a fully-fledged business, while being taxed at your own choice (using IRS Form 8832).

Using the example of a real estate business, we can draw an analogy for wholesalers, distribution centers, and those engaged in the production of goods. For sure, opening an LLC does not mean that the market giant brands would line up to sign contracts with you - they only want to work with large distributors. Moreover, registering an LLC is only the first step to starting any kind of business in the United States.

Wishing great sales to you all! 🚀💶