An LLC what?

Hi Ms. Walker,

I was originally going to become an S Corp but recently decided to go LLC instead. With regard to record keeping, etc, would you suggest your books for an LLC? Or are they strictly for sole proprietors?

Thanks,
Mike
Las Vegas, NV


Hello Mike,

I suggest the first thing you do is read these posts on LLCs -- LLC? Incorporate? and Sole Proprietor as an LLC .

Why should that be the first thing you do? Well, because you don't say what kind of LLC you are. As you'll learn in those posts and many others about LLCs in this blog: An LLC is a state legal structure; it is not a tax entity. Once you are an LLC you then decide to be a sole proprietorship LLC, a partnership LLC; or a corporate LLC.

So, to answer your question you asked, which I am very pleased that you asked, I will assume you are a sole proprietorship LLC [a disregarded entity in tax jargon]. If that is so then all my material is for you.

I suggest you start with my book, Self-employed Tax Solutions, which gives you the basics on income, expenses, taxes and more.

Best,
June