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

Download

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Wow!! Thanks Lily!! This is great information for us all.. Aren't we glad you've already know the to do's and to don'ts!!!

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Winslow Girl Virtual Assistant
www.winslowgirlva.com
Taking Virtual Assistance to the Next Level

I love this! I am a LLC at the advice of my CPA and attorney. It really makes a difference to your clients. They have respect in knowing that you are serious in your business in order to take your business a step further and become a true professional.

Thanks Lily.

Kim

WOW~~

Thank you!! This is what I need!!



Jennifer

Me too Kim!
In fact, just the other day I received my certificate of acceptance from the State of Ohio making my practice totally legal and open for business!
Viki

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Need Help? Ask Viki!

Thanks for contributing this document Lily and thank you Tess for posting it!

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Sarah Mosure

Thanks, Lily!!! I appreciate this, as I'm just about to register a company name using an LLC. Wish me luck!

I just got my DBA, for right now Im still going to do a sole proprietor, but the LLC info will come in handy when I DO change.... because I will. Thank you!!!

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www.sageva.com
Shelley Halpain,

What a great document! Thanks for sharing!

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Kathy Martin
http://www.katsbusinessservices.com/

Thanks for posting this, it will definitely be useful to me as me and my sister's company is an LLC.