Well its time to clean up my partnerships and get on with a new LLC – Just so people know if you are into this photo thing you really need to look at the advantages of forming an LLC, S-Corp etc.. or some way to write off your expenses in the attempt to make money.. see how I said attempt 🙂
I just tried a +LegalZoom LLC and it was totally painless.. even I was impressed…
New site coming soon.. the painful part will be transitioning old accounts and usernames from my old company to the new…
can you say any of that in plain English?
I don't know if you know, +Brent Burzycki, but the state of California changed a law a while back, and on federal taxes and in legal suits, a LLC with only one employee is treated like a Sole Prop. So there's no advantage unless you have more than one "employee" of the organization. I remember changing mine to an LLP for that purpose, and my partnership with the other firm became a partnership in business.
+Sandra Parlow I don't know how it works in Canada, but I imagine it is similar. LLC stands for limited liability company, meaning that you don't have to pay corporate taxes but your personal bank account is considered separate from the business (handy in case someone sues you.) An S-Corporation is a "small" corporation. We have to file to be a corporation first, but if we have under 500 employees, we can file for status as an S-Corp and also avoid corporate tax.
+Sandra Parlow nope 🙂
+J. Rae Chip yeh – sadly when I file I will need to deal with that….Â
LOVE THE LOGO!!!
Good luck! Looking forward to seeing what's next!
el cambio siempre es para mejor!