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Keep your company in good standing.
When a corporation or LLC is formed, they are entitled to several benefits that a sole proprietor wouldn't receive, such as personal asset protection. Not taking the appropriate steps to stay in compliance may result in loss of your corporate benefits, which negates the reason you formed a corporation or LLC in the first place.
We know how complex and overwhelming compliance can be. We also know that missed due dates create headaches and fines. And that lack of proper business documentation can be damaging when it needs to be presented to authorities.
Who needs Business Coaching?
- You are starting a corporation or LLC for the first time.
- You are too busy to worry about tracking due dates.
- You want to keep up to date and accurate documentation on file for your business.
- You would like a go-to person who you can turn to for help when you need it.
- You want personalized service from an expert who understands what you need.
- You missed a due date in the past and had to deal with late fees, fines, and penalties.
- You are confused about the steps to take after incorporating a business.
Business Coaching FAQs
- If I'm a one or two person business, do I really need to worry about all of these compliance requirements?
- Do I still need to worry about compliance requirements as an LLC?
- If I incorporated, but am not planning on working with customers right away, do I still have to worry about compliance?
If I'm a one or two person business, do I really need to worry about all of these compliance requirements?
Yes. Believe it or not, even as a one or two person business, you have the same requirements as a larger business. In fact, as a one or two person business it is arguable that you may need to be even more concerned about compliance since the fines can be less affordable when it has to be handled by one or two people.Back to Top
Do I still need to worry about compliance requirements as an LLC?
Yes. Most states do not require an LLC to have an annual meeting, but there are still other filings required. The state where you formed your business will monitor how you maintain your compliance, as well as the IRS, local tax authorities, creditors, employees, competitors, and possibly even customers. For instance, in the case of an audit, tax agencies may ask for documentation to prove permission was given for activities that were deducted as business expenses. This is why we recommend LLCs still complete the same documentation as a Corporation.Back to Top
If I incorporated, but am not planning on working with customers right away, do I still have to worry about compliance?
Yes. Once you form a corporation or LLC, there are requirements you must adhere to in order to remain in good standing.Back to Top