Corporate Transparency Act: BOI Reporting Requirements Starting January 1, 2024, a new federal law called the Corporate Transparency Act (CTA) created reporting requirements that catch most small business owners off guard. If you own an LLC, corporation, or similar entity, you likely need to file a Beneficial Ownership Information (BOI) report with the U.S. Treasury. … Read more
How to Transfer LLC Ownership Transferring ownership in your LLC isn’t as simple as selling your share to the highest bidder. Unlike stocks in a corporation, LLC ownership interests come with rules, restrictions, and paperwork requirements that vary by state and depend heavily on what you wrote in your operating agreement. Whether you’re selling your … Read more
How Much Does a Registered Agent Cost? A registered agent is a person or company that accepts legal documents on behalf of your business. If you have an LLC or corporation, you’re required to have one — it’s not optional. The cost varies widely depending on your approach. You can serve as your own registered … Read more
How to Separate Personal & Business Finances Setting up an LLC protects your personal assets from business liabilities — but only if you keep your money separate. Mix your personal and business finances, and you could lose that protection entirely. This isn’t optional bookkeeping advice. Courts can “pierce the corporate veil” (ignore your LLC’s legal … Read more
Quarterly Taxes for LLCs: How to Calculate & Pay If you run an LLC that makes money, the IRS expects you to pay taxes throughout the year — not just when you file your annual return. These are called quarterly estimated taxes, and missing them can cost you hundreds or thousands in penalties. Here’s the … Read more
Business Tax Deadlines: Key Dates for Every Entity Type Missing a business tax deadline isn’t just embarrassing — it costs real money. The IRS charges penalties that start the day after your return is due, and those fees compound quickly. Every business entity has specific tax filing deadlines based on how it’s structured. LLCs, corporations, … Read more
Corporate Minutes: What They Are & How to Keep Them Most business owners know they need to file annual reports and pay taxes. But there’s another compliance requirement that often gets overlooked: corporate minutes. Corporate minutes are the written records of your business’s formal meetings and decisions. Think of them as the official diary of … Read more
LLC franchise tax: Requirements by State Your LLC is officially formed, and you’re ready to focus on growing your business. But here’s something that catches many business owners off guard: most states require you to pay an annual fee just to keep your LLC active. This isn’t income tax we’re talking about — it’s a … Read more
Can You Be Your Own Registered Agent? Yes, you absolutely can be your own registered agent. Most states allow business owners to serve as their own registered agent, and it costs nothing beyond your initial business filing fees. But here’s what you need to know before you decide. A registered agent is the person or … Read more
Self-Employment Tax for LLCs: What You Owe & How to Pay If you’ve formed an LLC and earned money through your business, you probably owe self-employment tax — even if you’ve never heard of it. This isn’t your regular income tax. It’s a separate tax that covers Social Security and Medicare contributions for business owners. … Read more
