LLC - Health Insurance - Liability Insurance

[quincy]

How much does it usually cost to set up LLC state of Texas?

You can check the Secretary of State website. On the left hand side of the webpage linked to below is information on fees:
https://www.sos.state.tx.us/corp/businessstructure.shtml

 

[LdiJ]

After reviewing the Texas fees, and your response that the side gig is temporary, I am going to recommend that you do NOT open an LLC for this temporary side gig. If it grows into something more than a temporary thing, then you can reconsider. You don't want to open an LLC if you are just going to have to close it a few months later.

Your liability risk with an IT job is that you will potentially cause harm to a customer's business by accidentally doing something wrong that crashes or otherwise messes with their systems. You yourself can best gauge what the cost of the potential damage you could do if you mess up, and then your insurance agent can advise you of the cost of covering yourself as an individual with liability insurance.

 

[quincy]

I recommend you review all facts of your proposed business with a legal professional in your area. Only with this personal review of your financial situation and your goals will you know what is best for you.

 

[s0619212]

I recommend you review all facts of your proposed business with a legal professional in your area. Only with this personal review of your financial situation and your goals will you know what is best for you.

I plan to see a CPA soon. Thanks

 

[LdiJ]

I recommend you review all facts of your proposed business with a legal professional in your area. Only with this personal review of your financial situation and your goals will you know what is best for you.

Seeing a CPA is a good idea. However, Opening an LLC for a temporary gig that is only going to be going on for a few months would cost him far more cost and hassle than its worth. Even if he does have a large amount of assets to protect. There are more practical ways to protect those assets.

 

[quincy]

I plan to see a CPA soon. Thanks

I think that is a good idea, s0619212. And I appreciate the thanks.

It is smart to research and gather information before you invest time and energy and money into a new business, but online research can only take you so far and all of the information you gather should always be verified.

This is best done by a trusted professional in your area who has access to all of the facts.

Good luck.

 

[PayrollHRGuy]

A CPA can help you with the tax issues involved. They may well not know a thing about the liability issues involved.

 

[quincy]

A CPA can help you with the tax issues involved. They may well not know a thing about the liability issues involved.

He can discuss his insurance needs with his insurance agent.

 

[MosheStrugano]

The basic total cost of forming an LLC in Texas is $300.

 

[Just Blue]

The basic total cost of forming an LLC in Texas is $300.

That info was provided 2 weeks ago in post #16.

 

[quincy]

The basic total cost of forming an LLC in Texas is $300.

The $300 would be the minimum cost for forming an LLC in Texas. The $300 covers the cost of a certificate of formation for Texas entities that are not non-profits.

But no one should form a business thinking that all they need is $300.