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Corporate Tax Filings Due March 15th

If you have not prepared your financial statements and information for filing yet you may want to consider filing an Automatic 6 month extension. Remember however, that the estimated tax due is suppose to be deposited even if you are requesting the extension.

Everything Business clients need to provide all their information for filing by March 8th or we will need to file for the extension.

If you would like us to file your extension please email your companies full name and address along with the EIN number by March 14 and we will get them out for you.

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All LLC's are not created equal.

Many State web sites allow for the online registration of LLC's and other entity types but few discuss the advantages and disadvantages of your various options.

Did you know there is more than one type of LLC? Most applications default to the single person LLC. Did you know that a single person LLC is considered a "Disregarded Entity" by the IRS? Therefore it is not considered a stand alone company separate from its owner. You will add Schedule C to your personal 1040 return and file them together no different than a Sole Proprietorship.

If you want your company to file separately as its own person you will need to form a multi-person LLC. Does that mean you will need to find a partner? Well yes and no. Yes multi-person requires at least two parties, but No you do not need to get a friend or an in-law and then hope to get along in business. Most artificial entities are considered persons at law.

This means that another LLC, LP, Corp. or even a Trust is considered a person at law. For example you could go into business with a Trust that has your children as the beneficiaries and you and the Trust would constitute two parties of the LLC you want to form. This would give you a multi-person LLC without the need of finding a partner to get along with.

Give us a call and let us help you make an informed decision about your options before you fill out applications you may not be fully informed about.

Scott Dion

Everything Business, LLC
36 Center Street # 172
Wolfeboro, NH 03894

Office: 603-651-0220
Mobile: 603-273-7194

Scott@EverythingBusinessLLC.com

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