Starting an LLC
To start an LLC, you need to:
- Choose a business name
- File state formation documents
- Comply with requirements:
- Appointing a registered agent
- Obtaining an EIN
An LLC allows owners to limit personal liability for company actions. Accountants can’t form LLCs in California due to liability issues.
Bookkeeping for LLCs
LLC accounting helps preserve limited liability. It is important to:
- Open separate accounts in the company name
- Track expenses and develop a bookkeeping system
- Determine tax obligations
LLC owners have flexibility in management and taxes, making LLCs appealing for small businesses.
Consulting Professionals
Should I talk to my CPA or accountant before I start a business?
Does LLC need bookkeeping?