LLC Expenses Cheat Sheet for Tax Time
Depending on what industry you’re in, you might pay anywhere between $10,000 to over $100,000 during the first year of running your business. Not to mention, there are ongoing costs too, so entrepreneurship can be very expensive. The good news is that you can deduct expenses when doing taxes. And as a result, you can […]
How to File an Annual Report for an LLC
For many entrepreneurs, forming a limited liability company (LLC) is the best option, as it offers limited liability protection. It also involves less paperwork when compared with a corporation, so formation is much simpler too. Understanding how to file annual report for LLC is a key part of maintaining your business’s good standing. However, there […]
Can You Have Multiple Businesses Under One LLC?
Despite all the doom and gloom you hear about small businesses, it’s really not that bad. In 2021, 59% were still standing after six years, and 15% were still in business after 25 years! Once you’ve established yourself, you’ll have something to be proud of for years to come. However, why not expand your company […]
How to Pay Yourself as a Business Owner
On average, small American businesses make $53,000 in revenue per year. But don’t mistake that for the actual amount that the owners take in; often, they’ll pay themselves, which means that the company’s revenue is separate from their own income. If this is a new concept to you, then now you might be wondering about […]
Does Having an LLC Help With Taxes?
On average, small business owners pay around 20% to 30% of their company’s gross income per tax year. Whether you’re just starting out, or have been in business for a while, it’s a pretty big hit to take. Those who want to reduce their expenses and bump up their revenue might be looking into various […]
What Type of LLC Is Best for Me?
In November 2024 alone, there were almost 450,000 business applications in the US. This was an increase of 5.5% from October, which shows that an increasing number of Americans are pursuing their small business dreams. If you’d like to follow suit, then you might be looking into forming a limited liability company (LLC) since it […]
