Yakezie.com - Topic: LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/ Simple:Press Version 4.5.1 Lance at Money Life and More on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87923 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87923 I'm going for a partnership with my girlfriend I think. Makes most sense tax wise.

]]> Wed, 05 Dec 2012 17:57:48 +0000 Jake@iHeartBudgets.net on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87898 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87898 Club Thrifty said:

Congrats on the LLC! We opened ours up this week as well. I agree that you would be a Single Member LLC with no employees. We are a multi-member LLC with no employees.

 

Congrats!

 

Just a quick reminder, husband-wife LLC's can count as "single member LLC's" for tax purposes :) . You can elect Sole Proprieter (Sch C) or S-Corp tax treatment as well. :)

]]> Tue, 04 Dec 2012 21:04:21 +0000 Club Thrifty on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87879 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87879 Congrats on the LLC! We opened ours up this week as well. I agree that you would be a Single Member LLC with no employees. We are a multi-member LLC with no employees.

 

Congrats!

]]> Tue, 04 Dec 2012 10:01:31 +0000 The College Investor on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87849 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87849 US Bank has good free ones as well or businesses and they let you scan in checks from home which is great.

]]> Mon, 03 Dec 2012 19:47:24 +0000 Glen Craig on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87772 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87772 Good luck with the LLC Joe!  

When I looked for a business checking account I found that Capital One was able to offer no-fee accounts that worked for me (I set up two business checking accounts with them).  As always read your fine print and watch for fees when shopping around.

]]> Sun, 02 Dec 2012 07:13:31 +0000 retireby40 on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87753 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87753 I filed as a disregarded entity - sole proprietor. I made a mistake the first time and the site wouldn't let me choose 0 employee. I started over and was able to file as a single member LLC with no employee. 

Whew, I'm really glad I got it all done before 2013. Next year everything will go through the LLC. Laugh

Now I just need to find a bank with a good business checking account. 

]]> Sat, 01 Dec 2012 14:46:39 +0000 The College Investor on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87751 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87751 Jackie said:

The IRS considers my LLC a disregarded entity, so I choose sole proprietor there and file like that. (So no employees.)

Yes, and that is how Joe will file as well, unless he elects to be considered an s-corp, which just requires the filing of a simple for with the IRS.

]]> Sat, 01 Dec 2012 12:25:52 +0000 KyleAAA on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87745 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87745 Depends on how you choose to be taxed. You can choose to be taxed as an S-Corp with yourself drawing a salary as an employee. Doing so can save a significant amount of self-employment tax if you earn a large income, but of course there are drawbacks. Electing to be taxed as a sole proprietor is much simpler and requires a lot less on-going paperwork. Plus, I think you can change your mind later. On the flip side, I think once you elect to be taxed as an S-Corp there's no going back. Not 100% sure on that.

 

http://www.obliviousinvestor.c.....vs-c-corp/

]]> Sat, 01 Dec 2012 11:55:57 +0000 Jackie on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87692 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87692 The IRS considers my LLC a disregarded entity, so I choose sole proprietor there and file like that. (So no employees.)

]]> Fri, 30 Nov 2012 05:41:59 +0000 The College Investor on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87683 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87683 I believe the answer is None.  It is a single member LLC with no employees.

]]> Thu, 29 Nov 2012 20:26:21 +0000 retireby40 on LLC question - one employee or none? https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87681 Bloggers Lair https://yakezie.com/forums/bloggers-lair/llc-question-one-employee-or-none/#p87681 Hey everyone,

I'm almost done filling out the LLC paperwork. 

One last question I have is about employee and payroll information. 

So it's going to be a new company and I'll be the only member and the only one working there.

I guess that mean 1 employee right? Or is it none because I'm the employer? 

 

Ugh, I have to pay Transit tax too. 

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