Video instructions and help with filling out and completing Can Form 2220 Publishing

Instructions and Help about Can Form 2220 Publishing

Hey guys welcome to the first ever kennel preneur youtube channel video I know it's kind of crazy and I'm sure in a couple years we're gonna look back at this product and laugh at it however though I really wanted to start creating the content and especially on this important topic of how to start a publishing company now a lot of people think that starting a publishing company is sort of a pride thing right hey I've got my own publishing company but there's actually a lot of reasons why a self-published author who's only even just done one book should really consider setting up their own limited liability corporation or other version of a corporations okay so we're going to get into that next all right so first off why should you start a publishing company alright the biggest reason as to why somebody should do that is because it gives them financial protection alright when you put a product out there you're open for attack okay not just your book but you personally so maybe you make the mistake and you use a picture that somebody owns the rights to okay you may say to yourself well I buy my pictures on Shutterstock if you read the fine print it actually says in there that they're absolved of any issues so in case they sold you a picture that is copy written they won't be held liable you will so you kind of you may think you're doing it right but you never know okay so by setting up a limited liability corporation or so if your book is attacked by some big publisher or somebody with a really good lawyer then they can take the money from the company okay your limited liability company but they can't come after you just go on the internet and check it out there are a lot of authors I've had this happen to them so don't just think you're you know small chances that will happen to me it actually does so the next thing is taxes I I really love this for two parts one I have my own personal income and the business has its own can income if I were to combine the two I would actually be put in a higher tax bracket which would kind of suck because that means higher percentage of taxes I actually save a lot more money by doing this than if I were just to combine the two the second aspect to that too is you have business expenses do you go to any publishing events do you like to buy books you know the way I see it is any book I buy that I use for research purposes is a business expense and so therefore it takes off the total revenue of the company which is the tax part that you report so the other thing too is I'm going on to the tropical think tank with some of the bigwigs like John Lee Dumas you know and Chris Tucker and that is a business expense which is nice okay and finally of course there is the legitimacy factor okay a author by themself writing is one thing but if you have a limited liability corporation it's something to put in your book that gives you kind of that whole hey I'm the next step in professionalism because yes I have incorporated so so there's that all right now you may be asking yourself well how do I start a publishing company and it seems like a scary subject okay first off I would recommend going to Kindle printer comm and checking out our extremely extensive look on how you can do this and how to choose the right one but for the purposes of this video we're going to go ahead and take a peek over my shoulder as I show you exactly how I would go about starting my next LLC and how I have done in the past okay I use a website called my new company comm they make it super easy okay and no you don't have to worry about what state you are in case you're in like California where it's you know you know or tax achoo sits or something you can actually set up virtual offices so that your business can be in a very tax a perfect type place like for example Wyoming and Las Vegas or two of the biggest places to start your business so it has a lot of options for you so let's go ahead and jump right in okay guys here we are on my new company comm alright again this is a website that has a complete service setup for anyone wanting to start a business and I say you're like okay I might want to start one of these let's go ahead and jump on start a company pretty easy right okay now before they you get here there are a couple things you want to look at you want to look at what will be your company name what type of company things like that okay there's S corp you know limited liability corporations proprietorships and so forth if you go to our article on how to start a publishing company there's actually links on how you can make a informed decision on that and as I always say to I'm not a lawyer so if you have any questions or so I would highly recommend getting in contact with a lawyer so that you know you get the right point for the purposes of this video that we're going to show you how to actually start up your own limited liability corporation because to me that's kind of the best of all worlds it's easier to set up it is a corporation a lot of people think proprietorships are but they actually give you no protection and