Monthly and annual costs for running an LLC in the USA

M

MasterWatchdog

Newbie
Joined
Aug 25, 2020
Messages
3
Reaction score
0
Dear all,

I wanted to ask for more information regarding the registration and the maintenance costs to operate with an LLC remotely.

Most people focus on the cost of incubating the business, but my concern is instead related to the various subscriptions needed to run efficiently and trouble-free the firm. In particular, I refer to:
  1. The lease of an address for receiving physical communications
  2. Accountant costs, at least once per year, to file a tax return
  3. Accounting software/service if needed
The experience tells me that there won't be a straight answer but it would very be appreciated if somebody could give a good estimate of the costs to have a clearer picture of what's needed and what it can cost.

If somebody could shed some light on the above, it would be great.

With Kind Regards.
 
Advertise on BHW
I am interested in this too. Following.
 
LLC, where?
What will be the annual turnover?

There are so many variables...
 
way too many factors
in cali it's $100 to register + 800 yearly
in missouri its $50 to register and 0 per year

same with accountant

software, majority will say use quickbooks

lets say u want llc in nevada for the tax benefit/privacy. how much is it. u can ask google and find out a lot faster than waiting here
 
uncutu said:
way too many factors
in cali it's $100 to register + 800 yearly
in missouri its $50 to register and 0 per year

same with accountant

software, majority will say use quickbooks

lets say u want llc in nevada for the tax benefit/privacy. how much is it. u can ask google and find out a lot faster than waiting here
Click to expand...

Thanks a lot for taking the time.

For the registration, I was considering Florida as it's pretty affordable.

I also noticed that the majority of people use QuickBooks...it starts from 150$ per year and above.

For communication and correspondence, I was thinking to use Northwest. Do you recommend a different company?

Furthermore, is there any calculator that would allow me to have an estimate of the taxes if the business earns 12,000$ in a year? So far I have used the website below just to have a rough idea:
  • https://beforetax.co/llc-tax-calculator/

Kind Regards.
 
MasterWatchdog said:
Thanks a lot for taking the time.

For the registration, I was considering Florida as it's pretty affordable.

I also noticed that the majority of people use QuickBooks...it starts from 150$ per year and above.

For communication and correspondence, I was thinking to use Northwest. Do you recommend a different company?

Furthermore, is there any calculator that would allow me to have an estimate of the taxes if the business earns 12,000$ in a year? So far I have used the website below just to have a rough idea:

Kind Regards.
Click to expand...
Do you think it's worth the trouble and the costs of running an LLC if you're planning to make 12k/year? In my country it would surely compensate to be self employed rather than an LLC, costs, trouble, and tax wise. Do the math to see if incorporate will save you money.
 
I own three LLCs in Indiana (not bragging - they don't make much). But they do separate my businesses from my personal assets. That protection is the only reason I formed the LLC's in the first place. Why would you want to operate an LLC remotely?
 
1. Just use a service like Shipito for the address. Most RAs offer a mailbox service too.
2. Use an accounting software like zoho books that costs 250 a year
3. if you send your statements to an accountant he shouldn't charge you more than 200 bucks to do the filing for you, but from what I see, it isn't hard to do the filing yourself if you got your statements right.

On top of these costs you have the RA fees which works out anywhere between 25 to 250 a year, depends on who you pick, and then the state fees which will be 300 bucks for DE and 50 for WY

Simple, easy and straightforward, I love doing business in the USA
 
But this is a very good solution and protection against your personal assets not overlapping.
 
MasterWatchdog said:
Dear all,

I wanted to ask for more information regarding the registration and the maintenance costs to operate with an LLC remotely.

Most people focus on the cost of incubating the business, but my concern is instead related to the various subscriptions needed to run efficiently and trouble-free the firm. In particular, I refer to:
  1. The lease of an address for receiving physical communications
  2. Accountant costs, at least once per year, to file a tax return
  3. Accounting software/service if needed
The experience tells me that there won't be a straight answer but it would very be appreciated if somebody could give a good estimate of the costs to have a clearer picture of what's needed and what it can cost.

If somebody could shed some light on the above, it would be great.

With Kind Regards.
Click to expand...

Ask this guys:
https://peachinfinity.us/company-formation-with-payment-gateways/
 
RoyalPartners said:
But this is a very good solution and protection against your personal assets not overlapping.
Click to expand...
I can't remember where I read this but there have been cases in which single share holders of companies that have their assets attached. Not LLCs, it was a corp.
 
Paranoid Android said:
I can't remember where I read this but there have been cases in which single share holders of companies that have their assets attached. Not LLCs, it was a corp.
Click to expand...
I don't know how that works in the US, but where I live, if an LLC owes money to the IRS(equivalent) or Social Security, they will go for the assets/property of the company owners! Although you are protected from all other creditors the LLC might have.
 
First -- if you're making real money, you probably want an S corp, not an LLC

if you're making real money and you have an S corp, it'll be a few thousand / year for an accountant -- but you'll end up saving more money on your taxes (due to the tricks the accountant uses with an S corp) than you spent on the accountant

Depending on the state, you might have a yearly filing fee -- a couple hundred dollars / year.

Physical address can be a UPS store -- again, a couple hundred dollars / year.

If you're making real money, you probably want a lawyer for articles of incorporation / bylaws / etc -- all the red-tape legalese stuff. A couple grand / year.

Quickbooks is cheap but you can do your books with a spreadsheet for free easy enough.

That pretty much covers it.
 
IM Addict said:
I don't know how that works in the US, but where I live, if an LLC owes money to the IRS(equivalent) or Social Security, they will go for the assets/property of the company owners! Although you are protected from all other creditors the LLC might have.
Click to expand...
Just to get this straight, this surely happens in an LLC, but also in the equivalent to an S Corporation. In a "real" Corporation that would be alot more difficult to happen. So yeah, a Corporation (but not an S Corporation or an LLC), would be a good or better option to protect your assets. At least in my country and some other countries in Europe.
 
wankawonk said:
First -- if you're making real money, you probably want an S corp, not an LLC

if you're making real money and you have an S corp, it'll be a few thousand / year for an accountant -- but you'll end up saving more money on your taxes (due to the tricks the accountant uses with an S corp) than you spent on the accountant

Depending on the state, you might have a yearly filing fee -- a couple hundred dollars / year.

Physical address can be a UPS store -- again, a couple hundred dollars / year.

If you're making real money, you probably want a lawyer for articles of incorporation / bylaws / etc -- all the red-tape legalese stuff. A couple grand / year.

Quickbooks is cheap but you can do your books with a spreadsheet for free easy enough.

That pretty much covers it.
Click to expand...
But for protecting your assets wouldn't it be better if it were a Corp. instead of an S Corp? Or in the US is the same?
 
IM Addict said:
I don't know how that works in the US, but where I live, if an LLC owes money to the IRS(equivalent) or Social Security, they will go for the assets/property of the company owners! Although you are protected from all other creditors the LLC might have.
Click to expand...
Yeah I just quoted the accounting software costs and CPA fees. Of course you have to pay your taxes at the rate of 21% on all your profits to the IRS. But the writeoffs you get in the US are awesome.

And yes, if you thought you could just form a c corp and do whatever you want and keep your assets safe in the US, that doesn't work anymore, unless you're a serious business with a few shareholders who are in good standing too.
 
MasterWatchdog said:
Dear all,

I wanted to ask for more information regarding the registration and the maintenance costs to operate with an LLC remotely.

Most people focus on the cost of incubating the business, but my concern is instead related to the various subscriptions needed to run efficiently and trouble-free the firm. In particular, I refer to:
  1. The lease of an address for receiving physical communications
  2. Accountant costs, at least once per year, to file a tax return
  3. Accounting software/service if needed
The experience tells me that there won't be a straight answer but it would very be appreciated if somebody could give a good estimate of the costs to have a clearer picture of what's needed and what it can cost.

If somebody could shed some light on the above, it would be great.

With Kind Regards.
Click to expand...
Montana:
•$70 to file LLC. $0 annual renewal fee.
•My accountant charges $120/hr but you can use Turbo Tax to file for free if you make less than a certain amount per year. I don't know that number but I'm pretty sure you qualify.
•Wave accounting is free. Quickbooks is $70/mo. You can use Wave if your income is less than 12k/yr. You won't need QB until your accounting gets complicated
•Mailing address: you can use a PO Box. Its less than $200/year for the PO Box.

If you were looking for cheap accounting, Wave and Turbo Tax is free.
 
Paranoid Android said:
And yes, if you thought you could just form a c corp and do whatever you want and keep your assets safe in the US, that doesn't work anymore, unless you're a serious business with a few shareholders who are in good standing too.
Click to expand...
I guess that doesn't work in any country of the so called western civilized world, because of all those anti money laundering and anti tax fraud laws. It's really really hard to conceal who the shareholders are.
 
IM Addict said:
But for protecting your assets wouldn't it be better if it were a Corp. instead of an S Corp? Or in the US is the same?
Click to expand...
if you hold the profits inside the corporation they're always at risk -- the corp gets sued and has assets the plaintiff can come after

Regular corp (C corp) allows you to take profits out of the company, and then they're protected -- but they get taxed twice (once at the corporate level and then again at the personal level). Alternatively you can take all the profit out as a salary but then you pay social security and (i think) medicare on all of the profit

S corp allows you to take profits out of the company, and then they're protected -- but with an S corp, you're required to take *some* out as a salary (where you pay social security and medicare) but then you can take the rest out as pass-through income, which doesn't get taxed at the corporate level -- it only gets taxed at the personal level -- and its taxed as (i think) capital gains, so you don't pay social security or medicare on that.

This is all USA-specific -- welcome to the clusterfuck
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Networking Downloads

Marketplace

Account Selling Content / Copywriting Hosting Images, Logos & Videos Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Misc

Making Money

Affiliate Programs Hire a Freelancer Making Money Pay Per Click Site Flipping

BlackHatWorld

BHW Merch Forum Suggestions & Feedback Introductions Lounge Dispute Resolution

Other

Domain Name Forum IM Journeys Web Hosting Newsletter
Back
Top