Once you establish your freelance business, you’ll be eligible to receive what’s known as an EIN, which stands for Employer Identification Number. This nine-digit number, which is sometimes also referred to as a Federal Tax Identification Number, is assigned to businesses by the IRS, and it’s used it for tax filing and reporting purposes.
Ah, taxes. No one can avoid them, including your LLC. So, once you’ve formed your LLC, you need to take taxes into consideration. The problem is that, when it comes to business taxes, things could get complicated. But the good news is that, with LLC taxes, you have several options.
As the owner of an LLC, your work is never really done. Just when you thought you could relax because your LLC is officially formed, you find out that there are other things that you need to do periodically to maintain your LLC in good standing. Failing to take these steps may result in having […]
Are you the type of person who takes the DIY approach to a lot of things in life? Then you might be thinking about forming an LLC all on your own. And the great news is that you can save quite a bit of money by doing it all yourself, rather than hiring the services […]
Running a business of any kind will come with expenses. Even a freelance business that you operate from your own home will incur costs that your profits will need to cover. You already know this, but you might also be wondering how much owning an LLC in California will really cost you. For example, are […]
There are a few things that you need to do when establishing your LLC, and one those things involves coming up with an operating agreement. This is a legal document that establishes how your LLC will be run. So, it will include things like how decisions will be made, how money will be distributed, and […]