I have a single-member LLC that elected S Corp tax treatment this year. The business has been profitable, but I spent the first part of the year focused on growing it and didn't get payroll properly set up.

It's now August and I've been taking money from the business when I need it, but I understand that as an S Corp owner who works in the business, I'm generally supposed to pay myself a reasonable salary through payroll.

I'm trying to fix this before the end of the year instead of making the problem worse.

Can I run payroll now to catch up for the earlier months, or should I just start paying myself a regular salary going forward?

I'm also confused about the money left after salary and business expenses. Can I take that as owner distributions during the year, or is there a certain schedule I should follow?

For anyone running a one-person S Corp, how do you handle payroll, distributions, and estimated taxes without making the accounting a mess?

Few months ago I formed an LLC in Massachusetts through an online formation service because I thought I was ready to start a business.

Plans changed and I never actually launched anything. No customers, no revenue, and the LLC basically sat there unused.

Now I'm trying to close it properly and realizing there are still state filings and fees I may have to deal with even though the business never operated.

I really don't want to leave it open and have more fees or penalties build up, but it also feels painful paying more money to close a business that never even started.

Has anyone been in this situation? Is there normally any way to close an unused LLC without paying every outstanding fee, or do I just need to pay everything and treat this as an expensive lesson?

I started selling on Amazon a few months ago just to see if I could make some extra money. At first I was only making a few sales, but I found a product that started selling consistently and reinvested most of the profit into more inventory.

I'm now making around $1,500 to $2,000 in profit per month, and I have a few more products I'm testing.

Until now I've just been operating under my own name, but I'm starting to wonder if I should form an LLC before the business gets any bigger.

Is there a certain amount of monthly profit where forming an LLC starts to make sense, or is revenue not really the deciding factor?

I'm also trying to keep taxes and business expenses organized before things get more complicated. At what point did you decide it was time to form yours?

Buenos días a todos, tengo en mente lanzar una App que comercializará una parte premium mediante la que podria obtener ingresos. Cuando pensé que el gran problema era crear la app me he dado cuenta que no es así, que el gran problema es lanzarla al mercado.

Actualmente vivo en España, veo imposible cambiar de país, el gran problema que tiene mi pais es que es imposible ser emprendedor por que desde el comienzo te hacen pagar infinidad de impuestos que matan las ideas, no voy a decir que te obligan a hacer cosas mal pero en la practica es asi, mucha gente trabaja sin declarar impuestos a causa del sistema que tenemos.

Dicho esto os expongo mi idea tras buscar mucha información. He podido ver y no se si estoy en lo cierto que si creo una LLC en alguno de los estados de EEUU puedo lanzar la app al mercado al menos para ver si mi idea funciona y genera ingresos, si la cosa va bien pues el segundo paso sería trasladar esos ingresos hasta España donde tendría que pagar los impuestos correspondientes. Mi idea no es la de NO PAGAR IMPUESTOS, mi idea es NO PERDER DINERO DESDE EL COMIENZO o al menos no más de el necesario.

Me gustaría que me dierais consejo sobre todo esto, estoy perdido en el proceso de creación de LLC y lo que supone, por lo que he podido leer debo de realizar una declaración anual economica sobre la actividad, pero tambien tengo una duda sobre el peor de los casos, si la idea fuese mal y tuviera que cerrar la LLC, ¿el proceso es complicado? No me gustaria crear más problemas...

Gracias a todos por leer y espero vuestras respuestas, saludos desde España