Starting an LLC: Where to begin?
Started by Anonymous · · 👁 43 views · 1.1K replies
#606 ·
Honestly, you guys are all so helpful on this forum that Lioness can't even find any work to do👍
#608 ·
mellowfox56 said:Honestly, you guys are all so helpful on this forum that Lioness can't even find any work to do👍
Spare me the Lioness talk—every time I see one of her posts (or those pictures), I nearly have a heart attack.🤣
#609 ·
Come on, man, she’s actually awesome. Why are you acting all weirded out by her photo? You probably just misread the situation... things happen, but look, if you step out of line, she’ll let you know if you're breaking any rules. It's not like you're going to get kicked out instantly, so just
#610 ·
mellowfox56 said:Come on, man, she’s actually awesome. Why are you acting all weirded out by her photo? You probably just misread the situation... things happen, but look, if you step out of line, she’ll let you know if you're breaking any rules. It's not like you're going to get kicked out instantly, so just
Look, I'm a visual guy—I see a lioness ready to pounce and I know it.
LeBron James 🙂, enough already. Let's stick to the topic.👍
#611 ·
Alright, I’m officially calling it—I’m heading out. It looks like the mods pulled me from the accounting thread (if they didn't, I really hope someone reaches out to let me know why), and since I only pop into the other sections once in a blue moon, there isn't much point in staying around anymore.
Sending my best to all the accountants out there.
Sending my best to all the accountants out there.
#612 ·
My bad, everyone. I seriously thought the mods might have "nuked" my account for a second there. Turns out, they didn't—it was just some glitchy tech issue or a weird computer error on my end. Sorry about that!
#613 ·
When setting up an LLC, I know it’s usually smart to list as many business activities as possible to avoid extra filing fees later when you need to update your registration. My question is this: if I register my company with 100 or even 1,000 different activity codes—basically everything that doesn't require a specific license, like manufacturing firearms or pharmaceuticals—will that increase my annual corporate tax or any monthly fees, such as local levies or various municipal taxes?
I hope that makes sense. Thanks for the help!
I hope that makes sense. Thanks for the help!
#614 ·
Registering extra business activities doesn't actually change how much you owe the IRS. It all comes down to what you actually show as profit or income in your books at the end of the day. Seriously though, grab a coffee and sit down with your accountant before you make any moves
#615 ·
So, my accountant is telling me that IF an owner lends some cash to their own LLC just to keep things running without dealing with interest rates... well, apparently the business is still on the hook to pay sales tax on a 4% interest rate. I mean, is that actually how it works? Is there any truth to that?
#616 ·
If an individual lends money to a corporation, they can—but absolutely don't have to—charge interest. Plus, there’s no sales tax involved in those transactions. Check this out for details: http://www.imamnovac.com/Pozajmice-t...rnuto/172.aspx
#617 ·
roy,
Look, you could set up an LLC, but try to find someone else to act as the CEO—ideally, someone who already has a full-time gig elsewhere, so they aren't technically on your payroll... If you step in as the authorized representative instead, you’ll still hold the decision-making power of a director without actually being an employee. That way, you don't run into any issues with your Social Security benefits or whatever retirement setup you've got going... 😉
Look, you could set up an LLC, but try to find someone else to act as the CEO—ideally, someone who already has a full-time gig elsewhere, so they aren't technically on your payroll... If you step in as the authorized representative instead, you’ll still hold the decision-making power of a director without actually being an employee. That way, you don't run into any issues with your Social Security benefits or whatever retirement setup you've got going... 😉
#618 ·
Roy said:Question: I’m currently drawing military retirement benefits, and I’m thinking about starting an LLC. If I appoint myself as the manager/director, am I going to lose any part of my pension?
Edit: Turns out I managed to track down a legal expert at the Social Security office, and the answer is yes.
Honestly, just look back at what Dante wrote earlier in this thread. That should clear up exactly what kind of authority a manager actually holds.
#619 ·
Hey there!
Can someone break down the actual difference between a sole proprietorship and an LLC? I know an LLC requires a capital contribution—around $20k or so—but a sole proprietorship doesn't. Beyond the startup costs, what’s the real deal if I go the LLC route instead of just staying solo? Which one actually makes more sense to launch? Thanks in advance!
Can someone break down the actual difference between a sole proprietorship and an LLC? I know an LLC requires a capital contribution—around $20k or so—but a sole proprietorship doesn't. Beyond the startup costs, what’s the real deal if I go the LLC route instead of just staying solo? Which one actually makes more sense to launch? Thanks in advance!
#620 ·
jasmina,
I spent less than a minute Googling this—barely sixty seconds, really—and found what you're looking for right here. Then again, if you had bothered to dig through a few more pages or scrolled through another thread in this PDF, I'm certain the answers you're hunting for would have popped up eventually.
Look, don't take this the wrong way, but you need to put in some actual effort. If you expect everything to be handed to you on a silver platter, you’re never going to make it in business. Real entrepreneurs have to be proactive and self-reliant—that's just how it works. Consider this a bit of free, unsolicited advice... 😉
http://www.tvrtka.biz/tvrtka/index.p...id=35&Itemid=1
http://www.poduzetnik.info/index.php...-obrta-i-doo-a
I spent less than a minute Googling this—barely sixty seconds, really—and found what you're looking for right here. Then again, if you had bothered to dig through a few more pages or scrolled through another thread in this PDF, I'm certain the answers you're hunting for would have popped up eventually.
Look, don't take this the wrong way, but you need to put in some actual effort. If you expect everything to be handed to you on a silver platter, you’re never going to make it in business. Real entrepreneurs have to be proactive and self-reliant—that's just how it works. Consider this a bit of free, unsolicited advice... 😉
http://www.tvrtka.biz/tvrtka/index.p...id=35&Itemid=1
http://www.poduzetnik.info/index.php...-obrta-i-doo-a
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