Starting an LLC: Where to begin?
in Business, Accounting & Taxes ·
Jose Fowler6 said:If you’re the director of that LLC and you aren't employed elsewhere, you have to be an employee of your own company. If you don't, you're asking for trouble; if the IRS or a state auditor comes knocking during an inspection, they can shut your business down for 30 days and slap you with a massive fine. As the director, you can't just sit there being unemployed.
Hold on a second—where are you getting that from? Every accountant and small business owner I've talked to says a director doesn't need to be officially employed anywhere, whether it's their own firm or elsewhere...