Posts by Kyle King73

Paul Kim8 said:I’m trying to put together an annual budget for a new LLC... so far, these are the expenses I’ve managed to track;

- Salaries including payroll taxes
- Website development
- Website maintenance
- Accounting fees
- Phone and travel expenses
- Rent and utilities
- Annual business registration fees
- Incorporation costs
- Corporate income tax

Setting aside salaries, web costs, travel, and rent—can you help me with two things? 1. Roughly how much should I budget for the other items listed? 2. What am I missing? Is there anything else I'll be paying monthly or annually?

I need this info fairly quickly, so apologies if this has already been asked somewhere else...

Thanks

Maybe it's just me, but I don't see what kind of business this is. You can't calculate hypothetical costs without knowing exactly what you'll be doing, where, and with whom.
There are companies out there that can help you for very little money. I found a firm online that I consulted with over the phone, and everything clicked. For $83 what I paid, it was worth every cent. Check it out: ________ - INDIVIDUAL CONSULTATIONS

So many questions about such a simple topic. Check out the info for CORPORATIONS at
As for sole proprietorships, look here:

Steven Ruiz13 said:You can actually opt out of the IRS system if you decide to join voluntarily during that first year. There's a little trick to it, though. When you fill out the registration form, you just list an "expected revenue" figure that's higher than $85,000 $0.00. If your actual earnings end up being lower than what you predicted, the tax authorities will approve your exit. That way, you aren't stuck in the system for five years. But if your turnover ends up exceeding $85,000 $0.00, then you're legally required to stay in the IRS system, no exceptions
.

It is actually the exact opposite: if you apply to join the system voluntarily, you are locked in for at least five years. Just imagine the chaos people would cause if what you're claiming were actually true!
We might have our issues, but we aren't that incompetent!!!