Lily (Office Goddess) has kindly contributed a very thorough 8 page PDF document articulating the LLC Basics information she sends to new clients to help with their initial accounting record keeping.
The document can help you more easily navigate the basics of taxes and accounting as an LLC (Limited Liability Company) For a complete overview on what an LLC is please visit
Wikipedia.
If you have any questions related to this document, please reply directly to this thread.
Lily's notes for this document: This info does not include employee tax information or tax deadlines as most new LLCs don't have employees. This info has been garnered from a combination of IRS publications and internet resources. These are the
Federal tax basics; each state has their own rules and should be checked into on an individual basis. (Notably, California charges an annual "franchise fee" of $200 for LLCs.) Some other states have similar fees (Colorado, where
Virtual Office Goddess is located, is not one of them). So, folks should read

their state rules
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