Ah, Quickbooks – the crème de la crème, the final frontier, the seemingly only product out there for small-business owners, right?
Well, that’s at least what Intuit would like you to believe.
The truth is, there are a number of comparable products out there, with their own quirks, enhancements, and pitfalls when it comes to small-business bookkeeping.
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All is fine and dandy in the world of tax-prep so long as you are losing money on a business venture or investment. But the moment you start to earn those highly-sought profits, everything quickly changes (the epitome of first-world-problems).
That $5,000 worth of Dogecoin you bought back in 2013 would be worth $3,461,538 in today’s dollars, a hefty sum – but… is it taxable?
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Colorado charges $50 to file and $10 for the annual report
This provides one of the lowest price-points for single-owner LLCs. To see the filing and annual fees for other states, see this page.
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If you’re thinking about starting a new business (or legitimizing a current one), it’s important to start off on the right foot. That entails setting up an relationship between your business entity and the IRS. To do this, you’ll need an EIN, which is effectively the business equivalent of a social security number.
Continue reading... Filing an LLC in Wyoming will take around 15 minutes and cost $100
Besides having a business-friendly environment, Wyoming is a favorite among small-business owners for incorporation because they do not require an annual state income tax filing.
This may be a particularly good option for multi-owner LLCs who will need to file 1065 forms, considering TaxACT charges $35 for the state return each year. If your home state charges significantly for the initial filing and the annual reports, Wyoming might be the next-best option. You can see the cost of each state’s initial fees and annual fees here.
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It’s finally that time to decide on how you want to setup your business. Maybe this is your first rodeo, or maybe you’re a seasoned “sole prop” veteran who’s wondering what the real benefits would be to starting (or transitioning to) a Limited Liability Company.
First off, let’s break down that name: What does it mean to be “Limited Liability” ?
LLC’s have one real, solid benefit: Their debt is NOT your debt
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2021 / LLC Formation / Tax Information
How to File Articles of Organization in Colorado
December 10, 2021
