Hire an accountant

First 30 days: Look and act like a business. Step 7 of 24 in the new LLC launch playbook. A good accountant saves you more than they cost. They help you pick the right tax setup and keep you out of trouble with the IRS. Key points: - Look for an accountant or an Enrolled Agent (EA) who works with small businesses in your industry. - Ask how your LLC should be taxed. A one-owner LLC is taxed like a sole proprietor by default, and an LLC with two or more owners is taxed like a partnership. - Ask whether an S corporation election could lower your self-employment tax. The election uses IRS Form 2553 and has a deadline. - Set up a plan to pay quarterly estimated taxes. Ask for: Accountant or EA. Timing: Before your first big sale.

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