Creating LLC

How many years do you have driving?

As for the LLC protecting personal assets, it does not. You are a driver, manager and owner so the protections are lost.

Here is some really good advice.

Stop falling for the BS sales pitch. This isn't something you should do by yourself; you need a lawyer to get your business off the ground, and an accountant to set the ledger and decision-making process in place.

You retain the lawyer, so if you get into an accident, you have some legal representation.

I think an O/O or lease operator should be required to have one.

 

No difference between the two when you're the only owner when it comes to legal protections and/or taxes.

 

It can benefit you on your taxes if you net above a certain amount, but if you’re the driver of the truck it will protect nothing if you have an accident.

 

s corp vs sole prop yea/ not single member llc vs sole prop tho- taxed the same

 

Technically, you don't need an EIN either but it's good to have in order to protect your SSN and help protect against identity fraud/theft.

 

If the only member of the LLC does something and that something causes harm to someone the person causing the harm is at as much risk as if the LLC doesn't exist. The people selling LLC kits and services will claim lots of untrue things because selling LLC kits is their business. It's like a CDL school claiming a 4-time felon with 3 DUIs should get a CDL even though nobody will hire him.

 

Here is what I know for an LLC
Why Getting an LLC Is a Good Idea:
1. Liability Protection

• If something goes wrong—like a lawsuit from an accident or unpaid debt—the LLC helps protect your personal assets (house, car, savings).
  
  
• Only the business assets are at risk, not your own.
  

2. Credibility and Professionalism

• Shippers, brokers, and load boards often take you more seriously if you’re a registered company.
  
  
• Many contracts require you to be a business entity, not just a sole proprietor.
  

3. Tax Flexibility

• You can still report taxes on your personal return (pass-through taxation) or choose to be taxed as an S-Corp later for potential savings on self-employment taxes.
  

4. Easier to Open a Business Bank Account

• Keeping your business and personal finances separate is crucial for tracking income and expenses and protecting liability.
  

You as an Owner-Operator LLC
If you're driving your own semi truck under your own authority, having an LLC would:

• Protect you if your truck is in an accident.
  
  
• Make it easier to get insurance and contracts.
  
  
• Help you build business credit (for loans, fuel cards, etc.).

I had an LLC even for my own house to protect me from someone trying to claim insurance on me and it saved me. All they could try to get was my house and then they gave up. I hope this helps some

 

There are no protections - period. You are a driver, owner, and manager of that truck.

We all work in the most litigated industry in the history of the world, and is it absolutely stupid to think there are protections from an accident with your truck, even if it is not the driver's fault. There is an entire industry that targets trucks for lawsuits. Here in this area, there are billboards boasting billions collected as the best to get a lawsuit started. I know an owner whose truck wasn't even moving, sued by a couple who ran into it after they ran a red light, hit by a pickup truck, spun their car around, and it hit the guy's truck. He LOST in court and put out of business.

You get sued, you go to court, and the scum ambulance chasing lawyer suing you will have you investigated, and will present everything to the judge to attach your assets to the case, no matter what you think, it is attached. If you try to move it to others within the family, these scum lawyers will find out about it, they will look at where the money came from and will add it into your assets.

Your "protection" with an insurance claim isn't where this really counts, it is when there is litigation involved and if you think you are smarter than a guy/gal who is ruthless and does this for a living, think again.

As I said to the OP, get a lawyer involved, stop asking questions that can't be answered on a forum, because a lawyer (a good one) will look at your situation and tailor a couple of solutions for you.