A lot of people get into holding estate sales as a hobby. Even if this is a hobby for you or if you do only a sale or two a year, it is important to follow the law and pay taxes. Failing to do so can get you in a bunch of trouble. We will talk about Bookkeeping on another post. Registering an LLC in 2025 involves specific state-level filings, federal registrations, and new mandatory transparency reports. 1. File Your Formation Documents You must officially register with the state where you intend to do business (usually through the Secretary of State). - Articles of Organization: Most states use this term for the form that registers your business's name, address, and ownership. - Filing Fees: In 2025, fees range from $35 (Montana) to $500 (Massachusetts), with a national average of approximately $132. - Registered Agent: You must appoint an agent (an individual or service) with a physical address in that state to receive legal and official government mail.  2. Mandatory 2025 Federal Filing (BOI) As of January 1, 2025, all newly formed LLCs must file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). - Deadline: For companies formed in 2025, you must submit this report within 30 calendar days of registration. - Requirement: This report identifies the individuals who own or control the business.  3. Obtain a Federal Tax ID (EIN) After the state approves your LLC, apply for an Employer Identification Number (EIN) through the IRS website. - Cost: This is a free service provided by the federal government. - Purpose: You need an EIN to open a business bank account, hire employees, and file federal taxes.  4. Create an Operating Agreement Even if not required by your state, a written Operating Agreement is strongly recommended.

Naming your business is an important first step in creating a successful online local pick up auction business. Remember, in general this is your first impression. You want your clients to see that you are serious about your services. How do I find a name for my business Finding the right business name involves a blend of creative brainstorming and critical legal verification to ensure the name is both memorable and legally available. 1. Brainstorm and Generate Ideas - Define Your Brand: Start by listing words that describe your business’s values, products, or target audience. - Use Creative Techniques: Try methods like alliteration, puns, or compound words (e.g., YouTube, Facebook). - Leverage AI Tools: Use free generators like Shopify's Business Name Generator or LegalZoom’s AI tool to spark new ideas based on keywords.  2. Verify Legal and Online Availability Before committing, you must ensure the name is not already in use: - Check State Databases: Search your state’s Secretary of State website to see if the name is available for registration as an LLC or corporation. - Search Federal Trademarks: Use the USPTO Trademark Database to ensure you aren't infringing on a national trademark. - Check Domain Availability: Verify if a matching URL (e.g., .com) is available using sites like GoDaddy or Squarespace. - Social Media Handles: Check platforms like Instagram, TikTok, and X (formerly Twitter) for available usernames to maintain brand consistency.  3. Test for Long-term Success - Scalability: Avoid names that are too specific to one product or location (e.g., "Denver Cupcakes") if you plan to expand later. - Ease of Use: Ensure the name is easy to spell and pronounce. Hard-to-pronounce names can negatively impact customer recall and searchability. - Get Feedback: Conduct A/B testing with potential customers or friends to see how they perceive the name.