Best resources for a new LLC owner?

neondriver5 said:Is there any way to pull those 20 $0.00 out sooner? I mean, through some legal, straightforward route, or is it actually that complicated?
The 20 $0.00 itself isn't the issue, it’s more about why they should just be "sitting" there...
By the way, you might want to look into the costs of dissolving an LLC or a corporation. I've been digging into this myself and stumbled upon it—definitely factor that possibility into your plans.
The smarter players don't bother closing their companies; they just sell them. But let's be real, who is going to buy a company loaded with debt? Only the big sharks can play that game.😁

It used to be possible, back in the day, because the money would move through a loan you personally gave to the company, and then it comes back as a loan repayment

And yeah, if you're currently unemployed, you have to basically register as an employee under your own company and cover all the payroll taxes and everything

The only way you can run a business with zero employees is if you've got another job elsewhere

Richard Lewis16 said:It used to be possible, back in the day, because the money would move through a loan you personally gave to the company, and then it comes back as a loan repayment

And yeah, if you're currently unemployed, you have to basically register as an employee under your own company and cover all the payroll taxes and everything

The only way you can run a business with zero employees is if you've got another job elsewhere

As far as I recall, there should still be a way to manage that through various loans...

Yeah, I wasn't really the one calling the shots there, I was just following what my accountant suggested back then—it must have been about eight years ago...

And since the regulations around here seem to change every five minutes anyway, I guess he just said whatever felt right at the time

William Morgan said:I’ve got about $100k tied up in my apartment, and honestly? The idea of starting a business scares the hell out of me because my personal assets are on the line. Even if I had total control over everything, my parents worked their fingers to the bone to help me get this place. I could never risk putting that at stake.

@Ashley Mendoza6
The nature of this business really requires people to trust me. I'm offering something that makes their lives easier—essentially, I'll be doing the heavy lifting so the company itself becomes the reliable factor. But I totally hear where you're coming from. Maybe I'm overthinking it? Maybe they won't even care? It's hard to know until you're actually in the thick of it. At the end of the day, I have to find clients first. You can't exactly launch something and then try to pay the bills out of thin air... meh.

Do you honestly think there’s a single idiot in this entire country who would actually give you that? $33 Getting high-value goods without having to cough up the cash upfront.
Do you honestly think there’s a single idiot in America who would hand over goods before seeing that the cash actually hit their account?
They probably have it filed away somewhere under the small business records. $167 And if you find yourself in a bind, you just flip that sole proprietorship into a seasonal operation that only runs for thirty days a year—and then you pay those taxes. $500 Either you pay up to the government, or you shut the whole thing down. It's that simple.

If you find yourself drowning in legal headaches with an LLC and you're left without any real recourse, things get messy fast. $5000 If you get locked up, don't expect a safety net. You aren't entitled to social services, and you certainly won't have health insurance coverage. Your only real move at that point is to pack your bags and get out of the country entirely.

Look, if you don't have enough cash on hand to cover your Social Security taxes a full year in advance, just set up a seasonal business instead—something that only runs for one to six months out of the year. It’s basic math. When you're starting out, you're solely responsible for your own payroll taxes and healthcare premiums. Don't expect anyone to extend you credit on inventory; no supplier is going to give you goods on net-30 or net-60 terms during those first two or three years while you're trying to prove you aren't a flake. Even the big banks won't look at you twice for a mortgage or a business loan unless you can show a solid track record of successful operations for at least three years. It's just how the game is played.

You can withdraw your initial capital from your account immediately.

Drew Allen77 said:You can withdraw your initial capital from your account immediately.

Then, if he doesn't have enough to cover his own salary over the next few months, he could end up as a director facing massive problems he’ll never recover from. The only silver lining is seeing interest rates drop from around 15% down to 10%.
Don't go forming an LLC if you don't have $6667 instead if you don't have $66667.

-------
That’s why the new Penal Code has been getting so much media attention; failing to pay part or all of a worker's wages—whether once or repeatedly—is classified as a criminal offense punishable by up to three years in prison. "Wages" covers everything: base pay plus any other cash or in-kind benefits an employee receives for their work, calculated as the gross amount including payroll taxes. Essentially, you have to be careful because even missing out on mandatory additions like overtime, night shifts, or holiday pay could land you in criminal territory.
Can every employer who fails to pay wages be held criminally liable?
The answer is no. There is no criminal offense if the non-payment occurs because the employer simply cannot access the funds in their account or lacks sufficient funds due to circumstances that weren't intended to dodge payroll. This means those 70,000 employers won't face criminal charges if they're stuck because their accounts are frozen. Employers without funds also won't be criminally liable if those funds weren't spent specifically to avoid paying employees. However, this exception won't apply to struggling employers who fail to provide workers with pay stubs showing that the earned wages weren't actually paid.
Under the Labor Law, if an employer fails to pay wages, bonuses, or severance on the due date—or fails to pay them in full—they are required to provide the employee with a statement of the amounts owed by the end of that month. Failing to meet this obligation is treated as a major violation, carrying fines ranging from $61,000 up to $33333. That said, even if it's determined that an employer has the money but isn't paying, or if they spent the money specifically to avoid payroll, they might be spared the penalty if they settle the back pay later.
- See more at: http://www.poslovni-info.eu/sadrzaj/....zI54MS25.dpuf

Since he would only be pulling out that startup capital via a personal loan, it means he’s knowingly taking a loan from the company just to dodge paying payroll taxes to the government. That's three years in prison right there. Don't think for a second that trying to pass it off as "petty cash expenses" will fly with an auditor. It's bad faith business.
In accounting, only the truth counts, period.
And don't mess around with short-sighted criminal statutes. You find the loopholes, and you do it legally.