Insurance vs an LLC | Mark J Kohler | CPA

Insurance vs an LLC | Mark J Kohler | CPA | Attorney

Рет қаралды 24,447

6 жыл бұрын

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Mark Kohler breaks down the myths and facts when it comes down to using insurance or an LLC for your business.
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Пікірлер: 40

@MissDeb-jq6nz 6 ай бұрын

My tax man says the umbrella policy is better than LLC because it will fight with its own attorneys for you, whereas an LLC has no attorneys -- that's YOU.

@juancarlosrufasto4410 3 жыл бұрын

Thank you for put subtitles in Spanish to some of your videos, it is very good and also I can share your videos with the Latino community interested in real estate. I'm Juan Carlos Rufasto, Renatus student.

@romegq 2 жыл бұрын

Found your video very useful. Especially pleased that you cover all 50 states.

@ThuyBui-il1mr 2 жыл бұрын

Very good and funny videos bring a great sense of entertainment!

@OldVetNerdSage 3 жыл бұрын

Great video!

@derekb4life 5 жыл бұрын

Thank you this informative video. It took care of my Urban Legend theory.

@MarkJKohler 5 жыл бұрын

That's awesome! Thanks for watching!

@gudtiming1 6 жыл бұрын

Great short definition of Umbrella Insurance Mark! This is also sometimes called Blanket Liability Insurance. Also, buying Umbrella Insurance "standalone" isn't really even possible! (Unless you buy BOTH, then DROP the Base coverage). Last thing: The "Deductible" for your Umbrella Policy is equal to the "Maximum" of the Base Policy: $500,000 maximum Base = $500,000 "Deductible" on the Umbrella!

@jeremyleonbarlow 2 жыл бұрын

Wyoming makes sense for it's charging order protection which is stronger than most states. If you want to protect the assets of the company from creditors of the owner.

@alliesteamc3546 3 жыл бұрын

What to do when the insurance company do not want to pay the amounts needed to restore after a fire?

@jonroeder415 2 жыл бұрын

I have a single owner LLC. Should I put my business insurance in the LLC name or can it be in the owner's name?

@johne.meyerpressurewashing2833 2 жыл бұрын

I have a question- i do work in georgia-oklahoma-florida what do i need llc? and insurance in all three or is there a policy from someone who can cover all three with georgia as the home base?

@vanovervanover1436 3 жыл бұрын

Does a home owner have to have insurance on there rental property

@bermcannonk 5 жыл бұрын

great video. I will be in touch.

@MarkJKohler 5 жыл бұрын

Thank you!

@carolinaburgosaguilar1494 3 жыл бұрын

Do I need all of that if I only have 1 rental property?

@mrfredycordova 4 жыл бұрын

So do the renters pay for renters insurance? And does that also adds another layer of protections?

@MarkJKohler 4 жыл бұрын

Great question! there is a lot to it! I'd say your best bet is to watch some more of my videos, go to markjkohler.com/blog/ and find an article I have written, and/or give my assistant Rosalie a call at 435-586-9366 ext 2024 and have her point you in the right direction.

@Havinganokaytimethanks 5 жыл бұрын

I own an online LLC & plan on NOT opening a brick & mortar location because I enjoy the flexibility of travel. Will I be looked down on or not taken seriously ?

@MarkJKohler 5 жыл бұрын

No, but you need to have it. Not must, have it set up in the state where you live or it does you no good.

@Havinganokaytimethanks 5 жыл бұрын

Are you saying I need to have a brick and mortar location? Or are you saying I need to have a brick and mortar location in the state I opened my LLC IF I chose to have open one??

@davedewitt1245 5 жыл бұрын

So I go with you to open up and start my LLC and get leagel advice. Are you liciened in Indiana?

@MarkJKohler 5 жыл бұрын

So with setting up an LLC, attorneys do not need to be licensed in that specific state. Myself and my associates work with clients nationwide setting up entities. The paralegals are much more involved when setting up the entity and they are very familiar with each states laws. Our attorneys are not licensed there but are familiar with the laws as well to give you advice concerning the entity. Give us a call and we can get started. Call Darci at 435-586-9366 ext 2024

@Hubbs3of6 3 жыл бұрын

Where should I set up an LLC if I live in CA and I have rental property in TN, FL, NC?

@MarkJKohler 3 жыл бұрын

Please check out this article I wrote: markjkohler.com/where-to-set-up-my-corporation-or-llc/. Many people have had this question, so I explain it in this article. I hope it's helpful. I also answer this question on my podcast: kzfaq.info/get/bejne/q66Uqc1-1rqae30.html start watching at 31:04. If you have more questions, please reach out to my assistant at jack@markjkohler.com and he can connect you with someone who can answer them.

@lieblee3063 3 жыл бұрын

I owned a trailor park I have LLC and liability insurance. Should I get an umbrella insurance as well. I read the insurance brochure last night I noticed it didn’t even cover my land. My park is by the lake and the storm really did some damage. Please help, need advice

@matthewcordova6217 Жыл бұрын

I have a rental in a LLC the insurance is in my name.. The insurance wouldn’t put my LLC as name insured. So I added the LLC as additional insured. I should be covered for my liability correct? Or if I was sued would a good lawyer still be able to pierce the veil to me since the insurance is in my name as named insured.. I would pay for a consultation.

@sandrago7013 Ай бұрын

what did you end up doing?

@LAKitchen 5 жыл бұрын

I wish you were avail to consultation, and not just some attorney who you contract with or refer to

@MarkJKohler 5 жыл бұрын

You can set up a consult with myself or one of my associates. See kkoslawyers.com/ for more information on how to set that up.

@matthewcordova6217 Жыл бұрын

@Havinganokaytimethanks 5 жыл бұрын

Can you do a video on how to file taxes quarterly? I have an accountant but he practically says that I dont need him as long as I have technology. I have NEVER done my own taxes.. I lived with mommy and went to school etc so she handled some things. Now I'm ready on my own

@MissDeb-jq6nz 6 ай бұрын

After all the insurances and scammers are done with you.... WHAT'S THE POINT of even living???

@jimross2101 4 жыл бұрын

No one talks about frivolous lawsuits and that you would likely hire an attorney to protect you and your business if something were to happen. A silly person would just pay for some lawsuit without fighting it.

@Havinganokaytimethanks 5 жыл бұрын

Simple acts of god😂 funny & a genius!

@Darrell_lewis_massage_realtor 9 ай бұрын

They happen. Happened to me twice

@MissDeb-jq6nz 6 ай бұрын

Why say MOST AFFORDABLE -- and not put out a "for example" amount?? How much does an LLC + umbrella cost -- $800 just TO TALK TO AN ATTORNEY??!!!

@MarkJKohler 6 ай бұрын

Hello there, every situation is different so to have a chance to get your question answered on a podcast, please submit it to podcast.mainstreetbusiness.com/ OR if you want to dive deeper into your question, please get connected with one of our Main Street Tax Pros at markjkohler.com/tax-advisor-network/ Thank you!