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Hey there!
I’ve got a quick question for you guys. I recently heard that when you're setting up an LLC here in the States, you don't actually have to put down that initial $20,000 startup deposit anymore—is that true? $0.00Is that actually legit, or just more internet nonsense floating around?
haha, well, I guess the whole cycling flirtation thing is officially over
Kimberly Harris6 said:To have internal bookkeeping, you don't need to be registered as an accounting firm; you just need to employ an accountant. As for the CEO situation, the company can list a responsible officer or director in its official filings, provided they are technically employed somewhere. Whether they are employed by your specific company or working elsewhere doesn't matter. However, if they aren't officially "employed" in a way that qualifies for standard benefits/contributions, they'd have to pay those high self-employment taxes, which usually isn't worth the hassle. Furthermore, the person listed as the director in the corporate registry doesn't strictly have to hold a dedicated position within your firm; they can be employed in another role for which they are qualified, as long as they are actually performing that work.
http://www.usa.gov/business
Thanks a ton for clearing that up. So, since I'm already on the payroll, it would probably make the most sense for me to step in as the director. My wife is an accountant, too—so could she be hired by the company to legally handle nothing but our internal bookkeeping? Thanks again!
Hey there,
So, here’s the deal. A buddy and I are looking at launching a business next year—basically a full-service cleaning and landscaping outfit, both inside and out. It’ll just be the two of us to start, though who knows where we'll be in a few years. Since we’re planning to register the business under a pretty broad category of services, I wanted to see if there's any wiggle room regarding the bookkeeping. Specifically, if we register under accounting services, could my wife handle all the books for us? She’s got the degree and some extra certifications, so it seems like a solid way to save some cash—professional accountants can get pretty pricey. Also, quick question about the setup: if we launch this together, does one of us have to officially be the CEO? If that’s the case, it would probably be him, since I’m planning to stick with my current 9-to-5 for a bit until we build up a steady client base. If we’re both founders, but he’s the only one listed as the director—meaning I wouldn't be "on the payroll" until things really pick up—would he just be paying his own payroll taxes and social security? I'm honestly a little fuzzy on how that logistics side works. Thanks in advance for the help! Cheers