Packages
TRE CAPITAL BUSINESS JUMPSTART PACKAGE 1
Includes:
Business Trust
FREE EIN
$575 CASH $1000 CREDIT W/ NET 30 TERM
(for a limited time ONLY state filing fees NOT included )
TRE CAPITAL BUSINESS JUMPSTART PACKAGE 2
Includes:
Foreign EIN
LLC Formation
DBA (optional add on)
$750 CASH $1500 CREDIT W/ NET 30 TERM
(Includes state filing fee up to $150)
TRE CAPITAL BUSINESS PACKAGE 3
Includes:
Foreign Ein
100% Foreign Corporation
INT Banking options
Private Group Webinars
$1250 (limited special)
Tre Capital Essential Bonus Pack
Includes:
Free Business Logo
Business web domain
Business number assistance
Private custom business email account
Business startup website (Template based & self managed)
Free Webmail
Free animated logo
Free business card design
100 FREE standard business cards
FREE Notary Service
Free 411 business listing
Free business credit vendor list
And business credit manual
Free business coaching
DUN and Brad Street registration
FREE Custom Professional voicemail voiceover
FREE Local business listings w/ Google map Citations
Price: $250
ESTATE PLAN PACKAGE 1
INCLUDES
Will
Health Directives
Financial Power of Attorney
$1000 CASH $1250 CREDIT W/ NET 30 TERM
ESTATE PLAN PACKAGE 2
INCLUDES
Will
Living Trust
Foreign Trust EIN
Health Directives
Financial Power of Attorney
$1500 CASH $2500 CREDIT W/ NET 60 TERM
HOME & FAMILY DOCUMENT ADD-ONS: Starting at $50 each
Authorization for International Travel With Minor
Authorization for Minor’s Medical Treatment
Authorization to Drive a Motor Vehicle
Child Care Agreement
Child Care Instructions
Elder Care Agreement
Pet Care Agreement
Housekeeping Services Agreement
Housesitting Instructions
Request for Birth Certificate
Notice to Put Name on Do Not Call List
Subscription or Membership Cancellation form
Temporary Guardianship
Authorization for Care of Minor
EXECUTOR DOCUMENT ADD-ONS: starting at $75 each
Affidavit of Domicile
Employee Death Benefits Letter
Executor’s Letter to Financial Institution
General Notice of Death
Request for Death Certificate
Notice to Creditor of Death
Executor’s Checklist
PERSONAL FINANCE DOCUMENT ADD-ONS: starting at $100
General Bill of Sale
Security Agreement for Borrowing Money
Limited Power of Attorney for Finances
Notice to Terminate Joint Credit Card Account
Online Promissory Note
Revocation of Power of Attorney
DECIDE WHICH CORPORATE TYPE IS RIGHT FOR YOU
Limited Liability Company (LLC)
A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, and you should check with your state if you are interested in starting a Limited Liability Company.
Owners of an LLC are called members. Most states do not restrict ownership, and so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only one owner.
A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for further information. There are special rules for foreign LLCs.
Classifications
Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. And an LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes), unless it files Form 8832 and affirmatively elects to be treated as a corporation.
Effective Date of Election
An LLC that does not want to accept its default federal tax classification, or that wishes to change its classification, uses Form 8832, Entity Classification Election, to elect how it will be classified for federal tax purposes. Generally, an election specifying an LLC’s classification cannot take effect more than 75 days prior to the date the election is filed, nor can it take effect later than 12 months after the date the election is filed. An LLC may be eligible for late election relief in certain circumstances. See Form 8832 General Instructions for more information.
Limited Liability Company (LLC)
An LLC is an entity created by state statute. Depending on elections made by the LLC and the number of members, the IRS will treat an LLC either as a corporation, partnership, or as part of the owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. And an LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes), unless it files Form 8832 and affirmatively elects to be treated as a corporation.
Owner of Single-Member LLC
If a single-member LLC does not elect to be treated as a corporation, the LLC is a “disregarded entity,” and the LLC’s activities should be reflected on its owner’s federal tax return. If the owner is an individual, the activities of the LLC will generally be reflected on:
Form 1040 Schedule C, Profit or Loss from Business (Sole Proprietorship) (PDF)
Form 1040 Schedule E, Supplemental Income or Loss (PDF)
Form 1040 Schedule F, Profit or Loss from Farming (PDF)
An individual owner of a single-member LLC that operates a trade or business is subject to the tax on net earnings from self employment in the same manner as a sole proprietorship.
If the single-member LLC is owned by a corporation or partnership, the LLC should be reflected on its owner’s federal tax return as a division of the corporation or partnership.
Taxpayer Identification Number
For federal income tax purposes, a single-member LLC classified as a disregarded entity generally must use the owner’s social security number (SSN) or EIN for all information returns and reporting related to income tax. For example, if a disregarded entity LLC that is owned by an individual is required to provide a Form W-9, Request for Taxpayer Identification Number and Certification, the W-9 should provide the owner’s SSN or EIN, not the LLC’s EIN.
However, for certain Employment Tax and Excise Tax requirements discussed below, the EIN of the LLC must be used instead. Therefore, an LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Thus, most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number. See Form SS-4 for information on applying for an EIN.
A single-member LLC that is a disregarded entity that does not have employees and does not have an excise tax liability does not need an EIN. It should use the name and TIN of the single member owner for federal tax purposes. However, if a single-member LLC, whose taxable income and loss will be reported by the single member owner, nevertheless needs an EIN to open a bank account or if state tax law requires the single-member LLC to have a federal EIN, then the LLC can apply for and obtain an EIN.
Employment Tax and Certain Excise Tax Requirements
In August, 2007, final regulations (T.D. 9356) (PDF) were issued requiring disregarded LLCs to be treated as the taxpayer for certain excise taxes accruing on or after January 1, 2008 and employment taxes accruing on or after January 1, 2009. Single-member disregarded LLCs will continue to be disregarded for other federal tax purposes.
A single-member LLC that is classified as a disregarded entity for income tax purposes is treated as a separate entity for purposes of employment tax and certain excise taxes. For wages paid after January 1, 2009, the single-member LLC is required to use its name and employer identification number (EIN) for reporting and payment of employment taxes. A single-member LLC is also required to use its name and EIN to register for excise tax activities on Form 637; pay and report excise taxes reported on Forms 720, 730, 2290, and 11-C; and claim any refunds, credits and payments on Form 8849. See the employment and excise tax returns for more information.
Joint Ownership of LLC by Spouse in Community Property States
Rev. Proc. 2002-69 addressed the issue of classification for an entity that is solely owned by husband and wife as community property under laws of a state, a foreign country or possession of the United States.
If there is a qualified entity owned by a husband and wife as community property owners, and they treat the entity as a:
Disregarded entity for federal tax purposes, the Internal Revenue Service will accept the position that the entity is disregarded for federal tax purposes.
Partnership for federal tax purposes, the Internal Revenue Service will accept the position that the entity is partnership for federal tax purposes.
A change in the reporting position will be treated for federal tax purposes as a conversion of the entity.
A business entity is a qualified entity if
The business entity is wholly owned by a husband and wife as community property under the laws of a state, a foreign country, or possession of the United States;
No person other than one or both spouses would be considered an owner for federal tax purposes; and
The business entity is not treated as a corporation under IRC §310.7701-2.
Note: If an LLC is owned by husband and wife in a non-community property state, the LLC should file as a partnership. LLCs owned by a husband and wife are not eligible to be “qualified joint ventures” (which can elect not be treated as partnerships) because they are state law entities. For more information see Election for Husband and Wife Unincorporated Businesses.
Classification
The Entity Classification rules classify certain business entities as Corporations:
A business entity formed under a Federal or State statute or under a statute of a federally recognized Indian tribe if the statute describes or refers to the entity as incorporated or as a corporation, body corporate or body politic.
An Association under Regulations section 301.7701-3.
A business entity formed under a Federal or State statute if the statute describes or refers to the entity as a joint stock association.
A state chartered business entity conducting banking activities if any of its deposits are insured by the FDIC.
A business entity wholly owned by a state or political subdivision thereof, or a business entity wholly owned by a foreign government or other entity described in Regulations section 1.892.2-T.
A business entity taxable as a corporation under a provision of the code other than section 7701(a)(3).
Certain foreign entities (see Form 8832 instructions).
Insurance Company
Generally, LLCs are not automatically included in this list, and are therefore not required to be treated as corporations. LLCs can file Form 8832 (PDF) to elect their business entity classification.
Pursuant to the entity classification rules, a domestic entity that has more than one member will default to a partnership. Thus, an LLC with multiple owners can either accept its default classification as a partnership, or file Form 8832 to elect to be classified as an association taxable as a corporation.
The Form 8832 is also filed to change the LLC’s entity classification. Thus, an LLC that has been treated as a partnership for several years may be able to prospectively change its classification to be treated as a corporation by filing Form 8832.
Filing
If the LLC is a partnership, normal partnership tax rules will apply to the LLC and it should file a Form 1065, U.S. Return of Partnership Income (PDF). Each owner should show their pro-rata share of partnership income, credits and deductions on Schedule K-1 (1065), Partner’s Share of Income, Deductions, Credits, etc. Generally, members of LLCs filing Partnership Returns pay self-employment tax on their share of partnership earnings.
If the LLC is a corporation, normal corporate tax rules will apply to the LLC and it should file a Form 1120, U.S. Corporation Income Tax Return (PDF). The 1120 is the C corporation income tax return, and there are no flow-through items to a 1040 from a C corporation return. However, if a qualifying LLC elected to be an S Corporation, it should file a Form 1120S, U.S. Income Tax Return and S corporation laws apply to the LLC. Each owner reports their pro-rata share of corporate income, credits and deductions on Schedule K-1 (Form 1120S).