I am concerned as to whether I have made some mistakes in setting up my LLC. I set it up about 2 months ago and listed my home as the place of business. I have since been receiving various mailings addressed to my company at my address with my name above the company name. Should I change my address to a PO Box? Are these advertisers guessing that I own the company since I own the home on the county records and the LLC lists the same address? What would be smart in this situation? I don’t want to defeat the purpose (asset protection wise) of the LLC by doing anything unwise. Thank you very much for any assistance in this scenario!
(laugh) they’re not “guessing” about anything. they get their info from the state. You listed yourself as member and your residence as the business address.
There is no problem with listing your residence as the business address. In fact, most states will not allow you to use a PO box as your registered address, since they need a real person at a real address in the event they need to send the constable out to serve you with legal paperwork, etc. You can easily have a PO box for a mailing address ( I do) but it won’t stop the solicitations from people who get their info from the state.
The mail will die down in a few months.
funny that you put (laugh) in there mc.
that was my reaction. i laugh because i had the same reaction years ago when my partner and i opened our first business.
this time around with the LLC, i was prepared - WITH A SHREDDER! lol
yeah mrhistory - the mail will die down.
it’s good to set up a PO box - this way you can advertise the PO box as an address on marketing materials, websites etc.
the address you provide to the State - must usually be a physical address for the reasons mc sited already.
Thank you McWagner! Do I need to be concerned though about people being able to access that information and then possibly sueing me? Thanks again! I figure that I can’t be too careful!
in new york, there is a requirement for publishing the formation of LLC’s which includes a physical address - making the community aware of the business - in Legal Notice of various papers - selected by County Clerk where the business is located.
so in essence it’s a part of public record…however, if you go to the New York State DOS website and look up AmeriCountry Realty Group LLC - you won’t readily find a physical address
we have a PO box that we advertise on websites and business cards and to contacts that wish to send us correspondence.
no, you should be more concerned with owning investment property in your personal name.
the whole point of creating business entities such as corporations or LLC’s is to provide the owners liability protections against law suits.
of course, these business entities make it “easier” to raise funds as well. they also offer the owners tax advantages.
i’ve found that owning business entities for my different ventures (albeit start up ventures at this time) - offer an “easier” way to manage money and business in general. They provide direction (in as much as they receive direction from owners/managers).
if you develop a company, provide it with a mission, goals and a plan to achieve those goals - you are doing what 90% of the people breathing air in this world do not do. they live life, unfortunately, without a plan and with little direction.
my experience as an employee of several companies has given me fantastic insight into what is so uttlerly lacking in the minds of everyone around me. it’s sad to listen to them talk about their lives - some boast as if they’ve got it all figured out - with their 401k…
i had a guy the other day talk to me about his 401k - he’s 35, probably makes about 45,000 a year, has one kid and one on the way. he was boasting about his 401k and how it has 65k in it…
that’s his ENTIRE PLAN for the “future”…with little or NO PLAN AT ALL FOR NOW!!!
back to my original point - to me, having businesses to manage, books to keep, mileage to track, expenses to manage, business plans to continually update and review,etc…gives me the direction I want and need, to be successful.
but all that tracking and managing, FOR ME, would not happen if it was just me trying to buy some freakin houses and winging a rehab or managing a rental or two…
this is a business - treat it like one…learn it and do it.