Make an LLC or Not? - GoFuckYourself.com

HandballJim · 11-15-2008, 11:29 PM

I have stayed away from asking this question long enough... Should I make an LLC - Limited Liability Company or Not? Myself being new to the business and not successful yet. Some friends that I have asked this question to...basically said...are you making money...No...then wait until you start making money to start an LLC. Can't take something from nothing.

When I went to Exxxotica Expo this year in New Jersey, I heard a seminair that some lawyer gave...who does have some adult biz clients, he was saying that if your just posting links/text only you should be okay...but it is best just to be safe and have everything adult related go through an LLC. He also said that xxx photos can get you in trouble, and had mentioned it is best to add some non xxx stuff...since the person decided if your website is obscene or not will be looking at the sight as a whole.

I know this thread will explode...but I need the reality check from you guys who are dealing with this everyday in the adult business. I was ready to do the paperwork a couple of weeks ago with New York State...but realized I am not even sure how the taxation process goes with an LLC. So as usual more research...

ARC-Alex · 11-16-2008, 05:26 AM

Quote:

Originally Posted by HandballJim

I have stayed away from asking this question long enough... Should I make an LLC - Limited Liability Company or Not? .

It depends in what you are going to do. If you want to produce an adult website and trade content employing webmasters, LLC is the good solution. I would also offer for you to incorporate offshore if you can. This simply will help you to lower taxes. Consider Cyprus, or BVI.

In case you don't know the details on taxation, or incorporation, hire lawyer. I worked with these guys: www.wsr-corporation.com. They incorporate world wide.

stoner529 · 11-16-2008, 05:32 AM

you should actually incorporate. its better then an llc. but first you have to do a few things. you have to register a fictitious name. then once thats approved you have to file for a tax id under the ficticious name. than file the incorporation.. lawyers and accountants can do this. if you want good legal advice go to larry walters of first ammendment.com he speaks alot about adult websites. i have used him. i throw his name around alot actually. since i got to sit down and actually talk with him. he is very thorough and knows his stuff.

HandballJim · 11-17-2008, 11:22 AM

bump for more help please

pornguy · 11-17-2008, 11:45 AM

You can do it all ONLINE and a SCorp is better than an LLC I believe.

PowerCum · 11-18-2008, 08:38 AM

Do you have belongings that are worth more than 5k euro/USD?
If the answer is "yes", then go LLC. Otherwise don't.

For example, if you own a house then you SHOULD go LLC.
Without LLC you are liable for payments with everything you own (your home included) in case of legal problems. With a LLC you are liable with nothing. In exchange the LLC is liable with it's belongings and the money it has in the bank.
Of course, if you are smart enough, your LLC will have practically no money in the bank because it will have to pay you a huge salary.

Ask a lawyer about that. It's not about if you make money or not, but how much are you worth. you cannot get money from someone who has no belongings, but if you have your own house and somepone sues you without you having a LLC you may end living on the street.

Rod Pierce · 11-18-2008, 09:02 AM

If you decide to do an LLC it is way cheaper to do it yourself than with the online companies. I am from NY as well and I researched it and you end up paying alot more with them. If you have any questions, send me an email or ICQ.

d-null · 11-19-2008, 01:16 AM

Quote:

Originally Posted by PowerCum

Do you have belongings that are worth more than 5k euro/USD?
If the answer is "yes", then go LLC. Otherwise don't.

For example, if you own a house then you SHOULD go LLC.
Without LLC you are liable for payments with everything you own (your home included) in case of legal problems. With a LLC you are liable with nothing. In exchange the LLC is liable with it's belongings and the money it has in the bank.
Of course, if you are smart enough, your LLC will have practically no money in the bank because it will have to pay you a huge salary.

Ask a lawyer about that. It's not about if you make money or not, but how much are you worth. you cannot get money from someone who has no belongings, but if you have your own house and somepone sues you without you having a LLC you may end living on the street.

this is good advice, an LLC is good protection for your whole net worth even if the porn biz is just a small fraction of what you have going

11-15-2008, 11:29 PM	#1
HandballJim Confirmed User Industry Role: Join Date: Sep 2008 Location: NYC Posts: 4,024	Make an LLC or Not? I have stayed away from asking this question long enough... Should I make an LLC - Limited Liability Company or Not? Myself being new to the business and not successful yet. Some friends that I have asked this question to...basically said...are you making money...No...then wait until you start making money to start an LLC. Can't take something from nothing. When I went to Exxxotica Expo this year in New Jersey, I heard a seminair that some lawyer gave...who does have some adult biz clients, he was saying that if your just posting links/text only you should be okay...but it is best just to be safe and have everything adult related go through an LLC. He also said that xxx photos can get you in trouble, and had mentioned it is best to add some non xxx stuff...since the person decided if your website is obscene or not will be looking at the sight as a whole. I know this thread will explode...but I need the reality check from you guys who are dealing with this everyday in the adult business. I was ready to do the paperwork a couple of weeks ago with New York State...but realized I am not even sure how the taxation process goes with an LLC. So as usual more research... __________________ HOW I MAKE LOTS OF $$$

11-17-2008, 11:22 AM	#4
HandballJim Confirmed User Industry Role: Join Date: Sep 2008 Location: NYC Posts: 4,024	bump for more help please __________________ HOW I MAKE LOTS OF $$$

11-17-2008, 11:45 AM	#5
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	You can do it all ONLINE and a SCorp is better than an LLC I believe. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

11-18-2008, 08:38 AM	#6
PowerCum CjOverkill Industry Role: Join Date: Apr 2003 Location: Woldwide Posts: 1,328	Do you have belongings that are worth more than 5k euro/USD? If the answer is "yes", then go LLC. Otherwise don't. For example, if you own a house then you SHOULD go LLC. Without LLC you are liable for payments with everything you own (your home included) in case of legal problems. With a LLC you are liable with nothing. In exchange the LLC is liable with it's belongings and the money it has in the bank. Of course, if you are smart enough, your LLC will have practically no money in the bank because it will have to pay you a huge salary. Ask a lawyer about that. It's not about if you make money or not, but how much are you worth. you cannot get money from someone who has no belongings, but if you have your own house and somepone sues you without you having a LLC you may end living on the street. __________________ CjOverkill Traffic Trading Script Free, secure and fast traffic trading script. Get your copy now

11-16-2008, 05:32 AM	#3
stoner529 Confirmed User Join Date: Aug 2008 Location: longwood, fl Posts: 421	you should actually incorporate. its better then an llc. but first you have to do a few things. you have to register a fictitious name. then once thats approved you have to file for a tax id under the ficticious name. than file the incorporation.. lawyers and accountants can do this. if you want good legal advice go to larry walters of first ammendment.com he speaks alot about adult websites. i have used him. i throw his name around alot actually. since i got to sit down and actually talk with him. he is very thorough and knows his stuff.

11-18-2008, 09:02 AM	#7
Rod Pierce Registered User Join Date: Oct 2008 Location: Brooklyn, NY Posts: 38	If you decide to do an LLC it is way cheaper to do it yourself than with the online companies. I am from NY as well and I researched it and you end up paying alot more with them. If you have any questions, send me an email or ICQ.