Post a new topic
    4 Replies Latest reply on Sep 18, 2008 3:01 PM by green.ins

    LLC HELP ??????????Insurance???

    Gurevichm Newbie
      Hello

      Once your register your LLC. What is the next step? I know you go to the bank open an account. They will give you your Tax ID number. Then what do you do?

       

      I know I have to have a liability insurance. Do I have to have medical insurance for both my personal name and my LLC name? I have medical insurance now but will I have to add the company?

      Thanks
        • Re: LLC HELP ??????????Insurance???
          GrowthCurve Adventurer
          The bank does not give tax ID numbers. The IRS does that. You can apply online:
          http://www.irs.gov/businesses/small/article/0,,id=102767,00.html

          Do you "need" liability insurance? Maybe, maybe not. Depends on your business.

          Your business does not need medical insurance (if you mean health insurance) as a business is not a natural person and does not go see a doctor. You do not need to add your business to your health insurance, nor is this even an option.
          • Re: LLC HELP ??????????Insurance???
            LUCKIEST Guide
            LLC HELP ??, Welcome

            Tell us more, Who are you?? Where are you?? What kind of business??

            Everybody in business should have an Accountant, A Lawyer and an Insurance Agent.

            Do you know about SCORE. SCORE is FREE and can help.

            LUCKIEST
            • Re: LLC HELP ??????????Insurance???
              Bridge Navigator

              After you register your LLC, You apply with the IRS for an E.I.N. (Employer Identification Number) also know as a tax I.D.

              Generally, you will need this in order to open up a checking account in your company's name.

               


              Depending on the type of business your are in, insurance might be required by some regulatory agency. If not, the decision to get insurance is yours based on your business type and risk tolerance. If you are a new business with relatively few assets, what is the insurance protecting?
              • Re: LLC HELP ??????????Insurance???
                green.ins Newbie
                Correct me if I'm wrong, but I think the question about health insurance was asking whether both the individual and the business had to carry insurance for the employees. Group benefits are just that, benefits. You don't need to do anything with your current health insurance, except continue to pay the premium. If you, as a business owner, decide to provide medical benefits to your employees, then, depending on your states' regulations, you would apply for coverage in your business name with your employees as the applicants for the coverage. If you would like to discuss further, please give me a call. Jason at 405/973-1735 or jason@ticokc.com