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FAQ

  • What forms do I need to fill out as a first-year LLC owner? It's a partnership LLC.

    A Limited Liability Company (LLC) is business structure that provides the limited liability protection features of a corporation and the tax efficiencies and operational flexibility of a partnership.Unlike shareholders in a corporation, LLCs are not taxed as a separate business entity. Instead, all profits and losses are "passed through" the business to each member of the LLC. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would.The owners of an LLC have no personal liability for the obligations of the LLC. An LLC is the entity of choice for a businesses seeking to flow through losses to its investors because an LLC offers complete liability protection to all its members. The basic requirement for forming an Limited Liability Company are:Search your business name - before you form an LLC, you should check that your proposed business name is not too similar to another LLC registered with your state's Secretary of StateFile Articles of Organization - the first formal paper you will need file with your state's Secretary of State to form an LLC. This is a necessary document for setting up an LLC in many states. Create an Operating Agreement - an agreement among LLC members governing the LLC's business, and member's financial and managerial rights and duties. Think of this as a contract that governs the rules for the people who own the LLC. Get an Employer Identification Number (EIN) - a number assigned by the IRS and used to identify taxpayers that are required to file various business tax returns. You can easily file for an EIN online if you have a social security number. If you do not have a social security number or if you live outsides of United States, ask a business lawyer to help you get one.File Statement of Information - includes fairly basic information about the LLC that you need to file with your state’s Secretary of State every 2 years. Think of it as a company census you must complete every 2 years.Search and Apply for Business Licenses and Permits - once your business is registered, you should look and apply for necessary licenses and permits you will need from the county and city where you will do business. Every business has their own business licenses and permits so either do a Google search of your business along with the words "permits and licenses" or talk to a business lawyer to guide you with this.If you have any other questions, talk to a business lawyer who will clarify and help you with all 6 above steps or answer any other question you may have about starting your business.I am answering from the perspective of a business lawyer who represents businesspersons and entrepreneurs with their new and existing businesses. Feel free to contact me sam@mollaeilaw.com if you need to form your LLC.In my course, How To Incorporate Your Business on Your Own: Quick & Easy, you will learn how to form your own Limited Liability Company (LLC) or Corporation without a lawyer, choose a business name, file a fictitious business name, file Articles of Organization or Articles of Incorporation, create Operating Agreement or Bylaws, apply for an EIN, file Statement of Information, and how to get business licenses and permits.

  • What is the proper way to fill out the GST registration form?

    Hi,I have already wrote an article on GST registration process. Here is the article:GST Registration | SlickAccount BlogIts a guide to step-by-step GST registration.I hope it would solve your issues and help to register under GST easily.Thanks

  • Is it true that only a fiance or wife can ask for a leave request for a US soldier?

    I’ll echo a number of other answers here . . .Only the service member can request leave. Period.In addition . . .There is NO fee for applying for leave.Emergency Leave:Must still be requested by the service member using a DA Form 31 (Leave Request). A family can notify the service member of an emergency or other major event via the Red Cross. It’s one of the missions in their Congressional Charter. The Red Cross will verify the nature of the need and can track down a service member quickly. One does need sufficient identifying information to ensure they find the correct service member. Name alone is very rarely sufficient. I was notified in this manner when my father was by ambulance to a hospital in a condition very near death. One of my relatives knew exactly what to do and called the Red Cross. It was amazing how quickly I was found and notified.Occasionally service members or one of their family members will have what they think is a bright idea to invent a dire emergency to trigger an emergency leave. Don’t do it. The military invariably finds out it was fraudulent, nearly always immediately as we know it sometimes happens and will follow up to verify the significant facts are substantively true (not unusual for some details to be inaccurate). There’s Hell to pay if an “emergency” is discovered to be a fraud. “Death in family” must be in the immediate, nuclear, family: mother, father, sister or brother, spouse, or children. “Dire emergencies” with extended family members (grandma, aunt, uncle, cousin, niece or nephew) don’t qualify for emergency leave - although a regular leave might be arranged. The sole exception to the latter would be if the grandparent, aunt or uncle were in loco parentis, i.e. were the guardian acting as a parent with legal custody while the service member was a minor child. This is a broad brush-stroke about it. The Red Cross and military commands know all the finer points of this . . . what kinds of emergencies and family relationships qualify and which do not. Bottom line: don’t lie about something trying to get a service member on emergency leave. It’s criminal fraud in the form of false official statements and will be dealt with as criminal fraud.

  • I have created a registration form in HTML. When someone fills it out, how do I get the filled out form sent to my email?

    Are you assuming that the browser will send the email? That is not the way it is typically done. You include in your registration form a <input type=submit> and use PHP or whatever on the server to send the email. In PHP it is PHP: mail - Manual But if you are already on the server it seems illogical to send an email. Just register the user immediately.

  • How a Non-US residence company owner (has EIN) should fill the W-7 ITIN form out? Which option is needed to be chosen in the first part?

    Depends on the nature of your business and how it is structured.If you own an LLC taxed as a passthrough entity, then you probably will check option b and submit the W7 along with your US non-resident tax return. If your LLC’s income is not subject to US tax, then you will check option a.If the business is a C Corp, then you probably don’t need an ITIN, unless you are receiving taxable compensation from the corporation and then we are back to option b.

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