Avoid These MISTAKES Before Starting an LLC!

Summary

This video provides crucial advice for new business owners, including STR hosts, on avoiding common LLC mistakes. Key takeaways include the importance of using an EIN and a separate business bank account to maintain liability protection, understanding different income types (ordinary vs. passive) to optimize tax strategy, and setting up the LLC *before* acquiring property. The speaker also details essential tax forms and warns against co-mingling funds.