Questions regarding setting up and operating Limited Liability Companies
6
votes
3answers
5k views
As a member of an LLC, how do I pay myself a salary? 1099 or W-2?
If I am a member of my LLC can I be paid as an employee and be on a payroll? Is this different in each state or is it federally regulated? If our LLC is to have employees do we need a different number ...
4
votes
3answers
613 views
The effect of my personal credit on my new LLC
If I have "less than stellar" credit, does this mean that my new LLC starts off with the same "less than stellar" credit ranking?
3
votes
4answers
2k views
What is the most tax-efficient structure for an LLC where the principals aren't drawing salary?
My partner and I have day jobs so we don't need to (or want to) draw salary from our startup. Our startup is already profitable but in our ideal world, the bank account associated with this startup ...
9
votes
4answers
1k views
Finding a good lawyer / accountant for my startup
I have been told that deciding how and when to incorporate my startup is best answered by speaking to an accountant or lawyer about my individual needs. Besides relying on referrals, how can I ...
1
vote
5answers
476 views
US LLC wants to purchase services of Canadian DBA in a third country. How?
For the past two years I have a US based consulting LLC (in PA). The business is international and for the last year 90% out of the country.
Actually I have a project in Chile and need the services of ...
1
vote
2answers
53 views
Is the Secretary of State the general office, state to state, for registering a company?
All varying acronyms of incorporation aside, what exceptions (i.e. particular states) are there to the assumption that from state to state, if I need to register my company (for whatever particular ...
4
votes
1answer
564 views
LLC and address
I know this has been asked million times but i am still not sure. I bought a PO box number recently.
I have looked at Mailbox Forwarding and EarthMail and others but none of them have addresses in ...
1
vote
4answers
114 views
full-service incorporation/taxes/etc… firm - worth it? recommendations?
I'm interested in forming a one-man LLC in California, to do a website software-as-a-service (SaaS) business. But the more I look into it, it seems like a lot of paperwork and tax filings (e.g. ...
3
votes
1answer
375 views
When would US based company need to open foreign subsidary?
I currently have an online based company LLC in the state of California. I sell products that customers place orders and I can ship world-wide. I do all my manufacturing in Spain then import into ...
4
votes
3answers
437 views
US LLC formation for non-US resident
I plan to form an LLC in Delaware. I'm a citizen of an EU country and a resident of another EU country. Now... I manage a website that targets one of these countries and I need to be able to charge ...
3
votes
4answers
1k views
Maintaining LLC control with less than 50% ownership
Hopefully someone can gimme a hand. This is actually a question for a school project, but I've got some ideas kicking in my head for a startup, so I have good cause to know this for personal benefit ...
1
vote
2answers
200 views
Switching from a partnership to an LLC
I started my company as a General Partnership - partly to avoid fees while still ramping up, and partly because I wasn't foreseeing large revenue in the intial year.
Time went by, and now I need to ...
3
votes
3answers
613 views
Cheapest way to llc/merchant account?
My current startup(which consists of two) is going through incorporation, registering the merchant account and hooking it up with Braintree. I saw Jason L Baptiste's interview on Mixergy where he ...
4
votes
6answers
1k views
forming single member LLC for internet website
I live in Texas, and want to form a single member LLC (not decided which state).
If I have paid visitors from all over the world, do I need to register foreign LLC in other states even though I am a ...
0
votes
3answers
1k views
Freelance Web Designer - Should I do LLC or just file SE 1040
Just keeping it simple. I am a freelance web designer, I have an accountant, and I take payments payable to my name. Is there any reason I should form an LLC? Am I safe to continue doing what I'm ...
4
votes
2answers
1k views
Claiming Laptop as LLC expense
I don't have a separate bank account for my LLC (I am sole owner). I am planning to buy a new laptop. How do I claim it as an LLC expense, come tax time?
Related questions:
What are pros/cons of ...
0
votes
2answers
112 views
LLC in Maryland or Massachusetts?
What are the advantages and disadvantages of starting a LLC in Massachusetts, versus Maryland? It's a lot more expensive to file annual reports and get a license to operate an LLC in Massachusetts ...
4
votes
1answer
323 views
What questions should we be sure to answer in an operating agreement?
I'm at the point of forming an LLC with a partner, and wondering about questions that aren't obvious but that should definitely be included in an operating agreement. Questions like,
What are the ...
6
votes
2answers
1k views
How does a business owner take money out of their business
Let's say I own a business selling widgets on the web. I'm incorporated, most likely an LLC. The business is doing really well and there is a lot of cash flow. Since I'm separated from the business by ...
5
votes
3answers
373 views
should I form a 1-man LLC?
I am a student and do freelance programming work to pay the bills until I graduate and maybe even after. I live in Kansas but I do freelance work across state lines (in Missouri currently)
Is it a ...
2
votes
3answers
797 views
Under what scenario would an out of state LLC NOT have to be registered?
There are a number of people asking somewhat similar questions on here, and typically the answer is a combination of:
"You need to register as an out of state LLC"
"There is no reason to not ...
1
vote
1answer
115 views
redistribution of equity
If you have several founders and stocks are allocated, is it ethical or even legal for the majority stock holder to simply absorb the stock of the ones that dropped out instead of redistributing it ...
1
vote
2answers
145 views
PMB and registered agent
I have seen PMB (Private Mail Box) services from The UPS Store, etc. I have also seen Registered Agent services. Are there any places that do both? One would seem to be a natural/common extension ...
2
votes
1answer
98 views
“Foreign” registration — what is the threshold?
At what point do I have to register my company in another state as a "foreign" company?
I own a NH LLC. If I travel to VT to demo a product for a customer, does that rise to the level of doing ...
1
vote
3answers
306 views
Wanting to create another startup, should I create another LLC?
I already have one "startup" going, which is my web development job on the side. I have created an LLC for that. I now what to start another startup in a whole other industry. It will basically ...
2
votes
2answers
426 views
To which state would my taxes be paid in my LLC?
I will be starting an LLC with 2 other members and have the follwoing questions about where to LLC or Incorporate:
Basic outline of the organization:
2 of the partners will be residing in WI and the ...
1
vote
1answer
294 views
What business structure should I have if I want to offer convertible debt notes?
I'm thinking about forming a single-member LLC (in the US), but I've never done convertible debt notes (bonds) before, so I don't know what impact that would have on my business structure. Is there ...
1
vote
1answer
402 views
Annoying startup Tax question - I moved, company didn't
I started my LLC in Michigan in 2009, filed the required paperwork, and sent in my tax return for 2009. My company was just myself, and I worked out of my home in Michigan.
After getting married ...
2
votes
4answers
226 views
Need advice on partnership issues
There are 3 partners in my company. One of them has been causing some problems lately and has made some mistakes that has caused problems for many of our company's clients. I have had to send out ...
1
vote
2answers
2k views
LLC for virtual company with members in multiple states
I am starting up a small business software company with a friend who happens to live in another state (I am in MA, he is in IL). We are planning on creating an LLC for liability protection, and are ...
2
votes
3answers
299 views
Where to corporate if founders are temporarily in two different states?
Currently one founder is in Michigan and one is in Texas.
Neither of us plan to live in these states for much longer.
We both will more than likely end up in NYC.
In the meantime, should we hold ...
1
vote
2answers
154 views
LLC is in CA, but I am shipping products out of different state
My LLC is in CA, but I am shipping products out of a different state, does that create
complications? Do I need to create s LLC in that other state too?
My best
Elke
2
votes
6answers
4k views
Can You Be A Partner Without Putting Up Money?
I'm running a LLC that is a spin off of another LLC. I was working for the original LLC for a year when the 2 partners decided to start the spin off LLC. I let the partners know I wanted to be ...
2
votes
1answer
215 views
LLC description legalzoom
I am creating a LLC on legalzoom ...Do I need to mention the domain name of my website in the description of the business? I know I can trademark the company name, I guess I am wondering how the LLC ...
3
votes
5answers
672 views
S-corp or LLC for new software business in the United States
Pertaining to a new mISV (software business), should I choose an S-Corp or an LLC. Which would you choose and why?
2
votes
4answers
315 views
When do I need to register a company for my start up
I have an idea for a start up but would like to get a POC solution developed for feedback purposes before I spend time and money on the full product development.
Since I cannot develop the POC myself ...
0
votes
1answer
272 views
Equity research advisory startup: right legal structure
I have a few questions:
Whether LLC or LLP is better for equity research advisory business? Or there should be any other legal structure?
Can LLC be registered in Ontario (Canada)?
If there is ...
1
vote
3answers
827 views
Should one register their LLC/S-Corp, copyright & file their trademark before launching their web app?
I am currently in the process of developing a web application. So I am wondering if I should
register my LLC (or S-Corp)
register the app copyright
file the app trademark (as well as company ...
0
votes
1answer
88 views
US firm contracting and/or operating in Belgium
I have a US Limited Liability Company (a partnership) which does business in the US. We are a design and web development firm, providing web application design and development as well as web strategy ...
5
votes
3answers
1k views
What questions should I ask when interviewing a potential accountant?
We formed our LLC a few months back. We're developing a software product and we're planning to launch a very small private beta test in about a month. I'll be doing our bookkeeping, but I need help ...
0
votes
1answer
58 views
Should I incorporate my sports equipment buisness?
I have a small specialty sports equipment business that I have been running as a sole proprietorship for a few years now. I have been selling primarily at fairs and conventions for a decent return on ...
2
votes
1answer
166 views
One LLC for several services
I own an LLC that I set up for a vending business. However, I didn't pursue it, and now I would like to change it to a mobile eco friendly car wash and also a going out guide/promotions website. Could ...
0
votes
1answer
192 views
Registering an LLC in Wyoming
I am interested to register an LLC in Wyoming, but I currently do not have a US address. Is this possible? Do I also need a registered agent to register my LLC in Wyoming? Based on your experience, ...
3
votes
3answers
273 views
LLC Remove Owner
Assume an LLC has 2 owners, each at 50%. The owners mutually agree that one will take 100% ownership to switch the LLC to a disregarded entity, and the other owner will be dropped off completely.
...
9
votes
3answers
5k views
Simple Overview of LLC Pass Through Taxation
I understand that an LLC filed as a Partnership to use Pass Through taxation is not required to pay quarterly taxes. In this scenario, the owners pay taxes on the dividends received.
But how does ...
2
votes
2answers
2k views
Do we get taxed if we don't generate any profits?
All,
If I have an LLC, but during the financial year we haven't generated any profits yet, do we still get taxed? Does the law differ for each states in the US?
3
votes
1answer
74 views
Taking Stock in Clients
All,
I run a contract engineering firm, and I'm considering taking stock in some of my clients in return for reduced rates. I feel comfortable doing this given the continued level of income from that ...
1
vote
2answers
179 views
Business banking outside home state?
I am starting an internet service business, which I have registered the LLC in Wyoming. Although I reside in Illinois, I travel all the time for work and would like to maintain my Wyoming corporate ...
3
votes
3answers
344 views
First steps to starting an LLC?
I would like to get advice from others on what steps I should take before starting an LLC. I want to offer software development services through my company, and just want some pointers on things I can ...
9
votes
3answers
7k views
How many times a year do LLC's have to file taxes?
If I start an LLC where I am the only owner, do I only have to file taxes once a year (without getting penalties of course)?
