Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Corporate record keeping and official documentation are often a concern for entrepreneurs who know they are important but haven’t had the time to understand them. This can be the case for new businesses, perhaps because they are currently …
Fact checked for accuracy by Janet Berry-Johnson, CPA. You must consider taxes whenever you want to pick out a business entity for your business, as each business structure has its tax requirements. LLC means limited liability company, and when compared to sole proprietorship or partnership, LLC is more formal. Limited liability companies are a business …
Fact checked for accuracy by Janet Berry-Johnson, CPA. As your LLC conducts business, it’s important to understand how the filing of 1099 forms works. In some cases, your LLC must give out 1099 forms to people who provided services for the business. Unfortunately, many business owners get themselves into hot water with the IRS because …
Fact checked for accuracy by Janet Berry-Johnson, CPA. As you navigate life as a business owner, you probably enjoy the freedom to make your own decisions. When designating a registered agent for your LLC, it might seem like the easiest decision to appoint yourself. While it seems like a no-brainer choice, there are several risks …
Fact checked for accuracy by Janet Berry-Johnson, CPA. Deciding on the type of business entity to set up is not an easy task. You’ve probably come across the term “disregarded entity” in your research on LLCs. So, what does that mean exactly? This article guides you on everything you need to know about disregarded entities …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. You’re at the point where your LLC requires a new member. Congratulations! You’ve hit a significant business milestone. You’re expanding, and it’s time to take on a new partner. The next question in your mind will turn to …
How to Add Members to an LLC (Both Single-Member & Multi-Member) Read More »
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. You might be surprised when you look at the to-do list that appears after setting up your new LLC. You just finished going through several steps to help you establish the new legal entity. It’s common to feel …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Being self-employed is an awesome venture, but it does require a lot of planning and understanding of how to manage your finances. If you work alone instead of a sole proprietorship, you might want to establish a single-member …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Typically, there are two main classifications of a limited liability company; a foreign LLC and a domestic LLC. In this article, we will be taking a more in-depth look at what a domestic LLC is, how to form …
Fact checked for accuracy by Billie Anne Grigg, a bookkeeper and Mastery Level Certified Profit First Professional. Are you thinking of converting your sole proprietorship business into an LLC? Timing is everything, and if your venture is ready to go to the next level, you need to switch at the perfect moment. Otherwise, you might …
