Hey Keith,
I'm currently an upcoming real estate wholesaler, and I've created my LLC however, I'm not sure if I should patent my name of my LLC? or what are some legal issues that I should be aware of? For business accounts, is it better to have one for taxes and revenue? looking to set up my bank accounts soon. I know some people have a tree of LLC etc.
Best,
Christopher
Hi there Christopher,
I just want to preface that I am not a legal professional however. However it's always wise to start an LLC with a specific name, and I'm sure you already know this but you cannot pick a name that is the same as another name in the state you're filing it in.
As well as trademarking your name? Is that what you meant? It's really already secured with the state of secretary filing. But yes you could trade mark your name or register and brand it sure but I wouldn't recommend that it takes a lot of time and effort and you really only have to do that once you're really starting to grow and scale in my opinion.
As far as your money yes once you have your state filing LLC, and a EIN number from the IRS, very easy to get, then you should open up 3 accounts. Again these are just my opinions and not any kind of legal or tax advice. One account should be your checking of what you intend to pay everyone out of, the other should be a income account where you want to get paid into and do not mix the two. For example do not pay out of your income and collect income out of your expense. Your last should be a savings account that is tied to nothing but savings.
Love the questions Christopher!
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