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03 - Accounting & Taxes Accounting Help & Tax Strategies

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Old 11-09-2008, 10:02 PM
wackodacko wackodacko is offline
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Default All these Tax forms to file for my LLC - which ones!?

Hello,
I'm a new small business owner. Actually, I registered my LLC in California back in 2004. It was non-operational, and the only thing I did was pay the $800/year Franchise Tax Board fee and California Form 568.

I never filed any schedule C or anything like that.

Now that the business is actually starting to do something and become active - i need to do 2 things:

1) I need to start to pay myself a salary. How do I pay myself a monthly salary and give myself a W2? What forms do I need to file? I was reading online there's all sorts of Federal withholding tax forms, State tax forms, etc. etc. I am the 1 and only employee (and the 1 and only owner) Although I may employ my husband at a later time in the future. I looked at some payroll services like Paychex and Paycycle, but for 1 employee they charge like $50+/month. Sounds hefty...does anyone recommend doing the paperwork myself or just paying the payroll company to do it?

2) When tax season comes in a few months...what form/s do I need to file with the IRS?

Thank you for all your help

Last edited by wackodacko : 11-09-2008 at 10:13 PM.
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