A Story to Grow From: But I have an LLC!
It was a fine summer Monday, and Randy was feeling good that his business was finally getting requests for new jobs, more in line with business before the downturn.
He knew what a struggle it had been to stay afloat through the last two years. He felt that he would soon be able to catch up on his past due bills to suppliers. Too much brain damage dealing with constant collection calls and no money to satisfy them.
The Tax World for Businesses
No Avoidance of the Taxing Authorities.
If you believe that you know all of the taxes your business may be exposed to, you will probably be wrong. Is it 4, 5, more?
The best way to minimize the impact of taxes on your business is to develop an overall tax strategy plan. This plan will help you and your tax adviser to anticipate the tax or filing requirement before it comes up. Planning also allows you to plan to take advantage of every possible legal reduction of your taxes.
All Businesses will have Certain "Basic" Taxes.
Understanding Risk Management
Risk management covers a wide range of business functions including; business legal entity selection and maintenance, insurable areas, safety management, financial accuracy and theft protection, employee actions, and more
Insurable risks of loss
The fact that your business is a limited liability entity helps manage risk to other assets but does not relieve you from certain legal insurance requirements. The following insurances represent the basic types of insurance required.
Business Help Resources
- Can You Use Independent Contractors?
- Doing Business in the 21st Century Electronic World
- How to Get Up and Running
- Notice to LLC Owners
- Ten Essential Business Functional Areas
- The Money Pump
- Understanding Risk Management
- What You Need to Know Before Starting a Business
- What You Need to Know When Your Business Needs Workers