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okay so I finally did it, I set up my LLC and honestly I was so nervous it was going to be complicated 😭 like I had been putting it off FOREVER because I thought it was going to be this whole thing. paperwork, lawyers, fees… nope. @Tailor Brands walked me through the whole thing in literally under 3 minutes. LLC, EIN, business bank account, taxes, licenses, registered agent: all handled in one place. I didn't even know half of these were things I needed until now 😅 if you're like me and you've
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I set up an LLC family management company, placed my daughter on payroll, and opened a Roth IRA in her name. $7,500 contributed every year until she turns 18. By 18 there will be around $200,000 to $300,000 in the account. By 65, at a conservative 8.5% return, that grows to $6.5 million in tax-free wealth. The LLC structure avoids the payroll tax issue that comes with placing kids on an S-Corp or C-Corp payroll. That is what makes it work. Comment WEALTH if you are a millionaire to get a free ta
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