Mark Kohler walks through five steps for new LLC owners: verify proper formation, maintain annual minutes and state registration, keep business and personal finances completely separate, handle S-corp tax compliance if needed, and keep clean books for accurate tax reporting.
Forming the LLC was step one, but the real benefits come from what you do after that. So here's your simple checklist. Number one make sure the LLC was set up properly in the right state and with all the pieces and parts. Now if it wasn't or you have questions, get a hold of our law firm, KQS Lawyers. We have a service just to help you get it cleaned up and organized and you can get additional support and talk to one of our lawyers if necessary. Step 2 Make sure you're doing your annual minutes and you're registered the state and maintaining it in the state. This is our company maintenance plan at Main Street Business Services. Again, our information is below. When you get to the website you'll see some videos and some explanation of our services that make it super easy and simple to use. Step 3 Keep the LLC separate from your personal life and make sure that you're treating it separate in the sense of leases and title and all of those documents that are super important when you're operating and number four compliant if you're an S corporation and doing all those special tax forms. At our Main Street Tax Pro Network we have hundreds of accountants trained on all of my strategies that you can choose from and interview to help you with your tax reporting and tax planning. And finally keep clean books. It'll help bring that whole piece together with tax reporting and good bookkeeping.
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