LLC Setup, LLC Location

[Sipan Y.]

I live in California and I am planning on starting fix & flip business in California. Need some advice on setting up a single member LLC.

Is it a good idea to use Incfile website to setup a single member LLC? I want to make sure I do it right the first time, so I have maximum protection. Should I setup an LLC in California? or I should create a foreign state LLC in Wyoming?

Thanks!

[Nathan Gesner]

And to piggy-back on that, consider the costs. You have to spend money to set up the LLC, bank accounts, Tax ID, etc. Then you have annual maintenance expenses, separate tax filing, and other costs. Is it really worth it? That depends on what you're doing.

I owned 12 properties (30 units) all in my personal name before I set up my first LLC. They have benefits, but they are not as necessary as some would think.