New Jersey requires form http://www.state.nj.us/treasury/revenue/sub-s.pdf or CBT2553 to designate the Small Business tax election for either an LLC or a Corporation.
The California Secretary of State requires a form LLC-12 to be completed and submitted within 90 days of the formation of a Limited Liability Company (LLC). The form can be currently found at this link http://bpd.cdn.sos.ca.gov/llc/forms/llc-12.pdf. If the form has been moved or if the link is broken, please search for “California Secretary of State […]
For Corporations, shares designate ownership and the number issued to each individual gives the % ownership. Some shares can be left in treasury un-issued; but if not issued in some states like DE it may affect the annual fee. You should talk to your CPA about the effect in the state of formation. For LLCs, […]
The “S” tax election can be applied to either a Corporation or an LLC with identical benefits and filing requirements. The main benefits to you as a small business owner includes a reduction in the amount of Social Security / Medicare taxes that you would have to pay on company profits and the ability to […]
Some states require an industry standard number to be assigned to your company after it is established. The codes do not match business types exactly and you have to make a judgement as the category in which your business should be “tagged”. The official list is maintained here. For example, searching for Rental indicates that […]
We do not offer tax services and recommend our business partner Warren Taryle with Taryle Accounting, CPA PLLC. His office can be reached at 480-948-9510 or by email at email@example.com.
Requirements for licences appear to vary by City / County / State. Speak to a local accountant regarding the type of business activity and the need for a local business license.
Self-directed IRA investing requires you to work closely with your custodian to ensure that you do not carry out a “prohibited” transaction. Review this page www.yourentitysolution.com/ira.
Yes. Your accountant can advise you on the benefits and drawbacks of each in your particular situation.
Capital Contributions are provided by the shareholder (corporation) or member (LLC) – you – and are typically the minimum required to open the company bank account. Since your capital contribution is not repaid until after your shut down the company, many people merely fund the business with the minimum required to open an account and […]