How Do I Close My Small Business in Georgia?

Steps to Close an LLC in Georgia To close an LLC in Georgia, you need to file form CD-145. Once this is processed, you will receive a certificate of termination for your business. However, before you can get this, you need to close any tax accounts you still have open and will have to pay … Read more

Can You Backdate an S Corp?

S-Corp Election and Revocation A corporation or LLC must file an S-Corp election within 75 days of formation for it to take effect in the first tax year. An S election revocation filed early can be effective retroactively to the beginning of the tax year. S-Corp Characteristics and Elections Not everyone benefits from forming an … Read more

How Does an LLC Work?

Overview of LLC An LLC protects owners from personal liability for company debts. LLCs don’t pay taxes directly; profits/losses are reported on owners’ tax returns. Advantages and Disadvantages LLC advantages: liability protection, tax flexibility. Disadvantages: complex taxes, paperwork. Steps to Register an LLC Choose a business name Select registered agent File formation documents Create operating … Read more

Is a Welding Business Profitable? Profitability in Welding

Starting a Welding Business To start, learn from a mentor and take classes at a community college. Work hard and profits will come. Startup costs for a welding business range from $16,000 to nearly $50,000. You’ll need a handful of items to successfully launch your welding business. Earning Potential A well-established welding service provider can … Read more