One of my clients who is an Amazon Seller recently bought an Amazon Seller Account / New business for approx $11,000. In this case what would be the best practice to record this purchase? 1) As an Asset in current ...
  1. Hi because the business is now under the same LLC you can record the $11K as an "other asset". There is no need to maintain separate books. Hope this helps, hav ... Read more

Hi, I'm looking to start my business in the beginning of the year, how will this affect my taxes. Or, should I apply for the LLC but don't start my business until the beginning of next year?
  1. Ideally, the best time to form an LLC is BEFORE you open for business. If you have not started your business yet, you should consider this option very carefully ... Read more

Most of the clients I work with are LLCs, however I do have one that is incorporated. He is based out of Florida. He has a registered agent that sends him reminders for annual filings. ...
  1. Hi registered agents usually do the initial LLC set up and filing. You would need to have your client ask the registered agent if they are also renewing his reg ... Read more

I have been a freelance bookkeeper for almost three years now. The first two years I was still building my business. At what point should I form an LLC and what would be the benefits to ...
  1. Depending on how much income you are currently earning, and the types of expenses you have, it may be a good time to create an LLC for your freelance business. ... Read more

If all aspects of the business are foreign, other than the LLC incorporation. Does a multi-member LLC (as partnership for tax purposes) pay US taxes? I. Other words, members, clients, management, suppliers, office and agents are all abroad ...
  1. Foreigners are only subject to US tax if they are “engaged in a trade or business in the United States” (ETOB or ETBUS). If your business is not ETOB, even if i ... Read more