Anyone created a LLC for personal business?
- Thread starter Kalik
- Start date
Domingo Halliburton
Handmade in USA
there's no limit on claiming losses. if you lose money don't pay taxes and write it off.
and you can do this for the first seven years!?
Domingo Halliburton
Handmade in USA
yeah, companies run for years not making money and you can even push losses into future years.
by the sound of it, look into a financial advisor/CPA/ bank and pitch your idea to them before you start your business. even then, you'll probably need a CPA to do your accounting for you.
Suicide King
#OldBlack
You don't need a CPA, this is like using a sledgehammer to kill an ant. I've been in business for 7 years, and can make 100k+ gross and a CPA would be overkill.
Domingo Halliburton
Handmade in USA
I was just suggesting it because this guy doesn't seem to know the first thing about accounting.
Suicide King
#OldBlack
CPA is still not the way to go, simple bookkeeping does not need a CPA. A good tax adviser from H&R Block is more than enough.
Atsym Sknyfs
Superstar
Can an employer see when a business was created if I put my own llc on my résumé
Yea, you can go the the State's business website and they have a database of ALL companies established, date name was issued, status (active, inactive, etc), if its a inc the name and address of share holders, the company address, etc.
Why would you put your own llc on your resume? Are you trying to say you worked for the company .. if so just say you're self employed
Atsym Sknyfs
Superstar
Quicken is also a good tool for tracking ... The key though is to establish a new bank account and keep the funds separate. If you must borrow from your personal do a promisary note between your company and yourself.
I have its easy breh, depending on ur state. Check your states corporate division webpage. They how much it costs to start a business entity. Make sure an llc is right for you because in my state an lp protects your assets better than an llc and its cheaper to set up. I set everything through my state website took 10 min. Paying a lawyer is an uneeded expense if you will be the sole member.
After your registered with the state get a tax id from irs website.
Good luck
After your registered with the state get a tax id from irs website.
Good luck
The_King_of_Everything
Yeah.
Naw breh breh I'm trying to make it look like I worked for a company for a number of years so I can fake the years of experience
Domingo Halliburton
Handmade in USA
it doesn't sound like you need it, but if you need any short term cash for your business let me know.
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Stop it. A good CPA can be invaluable. How the hell do you think all these large companies get away with paying no taxes despite millions of dollars in revenue? Good CPA's.
For a good CPA, family and friends are always the best way to go. Especially someone that is in the business you plan on entering.
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Incorporating Your Business For Dummies [Paperback]
The Company Corporation (Author)
This is a great book i used when i first being creating businesses. Excellent guide book for the absolute beginner.