I'd like to ask what your thoughts on filing for an LLC organization?
It occured to me recently that some of the expenses I have incurred were made for non-personal use, what do I mean by that?
Well, maybe I can sort out these expenses by simply sorting them according to how they were used. By that, I will have to file for an LLC organization and put all those expenses for that objective.
What's your opinion about separating expenses according to personal and non-personal activity?
What would be the legal (i.e. tax) implications that I need to be aware of?
Thanks.
Setting-up An LLC Organization
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lostclimategames
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Hi lostclimategames,
I did some Googling and found some information relating to setting up an LLC.
In my state ( Oregon ), the state, local and city gubmint is requiring me to file a Statement of Organization ($50 fee). Then I need to go to the local and apply for a business license ($80 + $25). And then I need to go to the Beaverton city hall and get another license ($150)
That's probably what will it take to get me on legal ground. All that will be done at home, since I mostly do it there.
I also found out getting a license for an LLC located at your domicile is a little rigid and strict as compared to a non-residential area. The permit is called HOP.
Then the tax part. Hmmm, not sure about that as I have not done anything close to that.
How do I do declare my LLC deductions?
I think I can deduct those expenses incurred to an account that I need to setup?
I did some Googling and found some information relating to setting up an LLC.
In my state ( Oregon ), the state, local and city gubmint is requiring me to file a Statement of Organization ($50 fee). Then I need to go to the local and apply for a business license ($80 + $25). And then I need to go to the Beaverton city hall and get another license ($150)
That's probably what will it take to get me on legal ground. All that will be done at home, since I mostly do it there.
I also found out getting a license for an LLC located at your domicile is a little rigid and strict as compared to a non-residential area. The permit is called HOP.
Then the tax part. Hmmm, not sure about that as I have not done anything close to that.
How do I do declare my LLC deductions?
I think I can deduct those expenses incurred to an account that I need to setup?
Last edited by dlangdev on Tue Jun 10, 2008 8:58 pm, edited 1 time in total.
update:
The Secretary of State website offer several ways of registering an LLC. The one I took was the online route and registered the name using their online application system.
It turned out, after filling-out all the textboxes, the time it took from start to paying $50 was about half an hour.
Now, I have an LLC having no license to operate, nor permits to do anything.
The Secretary of State website offer several ways of registering an LLC. The one I took was the online route and registered the name using their online application system.
It turned out, after filling-out all the textboxes, the time it took from start to paying $50 was about half an hour.
Now, I have an LLC having no license to operate, nor permits to do anything.