This is a continuance of the thread I started a few days ago, asking the general population what they thought was the best way to clean money.Now I need the community's opinion once again. I've gone ahead and registered a LLC with the state, got my Fed Tax ID, now I could use some expertise on "cooking the books." I figure using quickbooks plus their payroll system would be the best way, any objections or better ideas?? Thanks for your time!
Have you figured out how to get the cash into your business?
If you don't have an accountant, the quickbook payroll system is usable. I certainly wouldn't want ot manually calculate that shit. It makes it easier for sure.
Don't forget to create an EFTPS account so you can pay SS online.
Don't forget to get applicable insurance. If you want to pretend to be a legit business, most legit businesses need a general liability insurance policy. You'll need to get one according to the industry standards of the business you are pretending to be. They can be cheap depending on the work you are claiming. A $1MM general liability policy will probably run about 300-600/year for a basic, low risk type business. All depends what you are fronting to be.
Make sure you understand when you need to file taxes. Corporations need to pay quarterly. Make sure you understand the state's requirements as well. Every state is different in terms of what filings are required and when/if payments are due.
To open a bank account, most banks will need corporate papers. You will need Articles of Incorporation/Organization. You might also need a resolution stating that you are given permission to open a bank account.